Does anyone know how the new $ 5,000 EV rebate in New Jersey would affect lease prices? Would the full $ 5,000 go towards a downpayment? Or does the leasing company keep a portion of the rebate? (If anyone has another EV lease in other states with rebates please let me know your experience).
New $5,000 EV rebate in New Jersey
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From what I have read, a Ford exec at the LA auto show said that they would have a lease-like product on the Mach-E that would actually be a 4 year loan with the option to return the car at a predetermined price like a lease. This product would title the car in the customer's name so the customer gets all the rebates. Another individual who works for Ford piped up with a little more detail saying it would likely be 47 regular payments with a balloon payment at the end. The last payment could be paid by returning the car, paying cash for the balloon payment, or get another loan for the balance.
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I hope this helps:
"S2252 Section 5 b. A seller or lessor of an eligible vehicle shall provide a purchaser or lessee the option to have the amount of the light duty plug-in electric vehicle incentive deducted from the final negotiated and agreed upon sale or lease price of the eligible vehicle..."
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More info about New Jersey incentives for electric vehicle purchases:
if effect now:
- the 7% sales tax is waived.
- 10% discount applied to off-peak toll pricing on NJT and GSP (must apply through EZ-Pass)
- HOV lane use (in certain areas only)
if effect once the incentive program is in place (i believe they have 180 days to work out the details):
- up to $500 toward the installation of a home charger (sales tax waived on this too)
- up to $5000 rebate incentive for vehicles with a MSRP of $55,000 and under. (whether this is base MSRP or after options has to be clarified)
- the rebate can be applied towards the purchase/lease.
More information should be available when the incentive program details are finalized. check --> www.drivegreen.nj.gov for updates.
if effect now:
- the 7% sales tax is waived.
- 10% discount applied to off-peak toll pricing on NJT and GSP (must apply through EZ-Pass)
- HOV lane use (in certain areas only)
if effect once the incentive program is in place (i believe they have 180 days to work out the details):
- up to $500 toward the installation of a home charger (sales tax waived on this too)
- up to $5000 rebate incentive for vehicles with a MSRP of $55,000 and under. (whether this is base MSRP or after options has to be clarified)
- the rebate can be applied towards the purchase/lease.
More information should be available when the incentive program details are finalized. check --> www.drivegreen.nj.gov for updates.
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GOOD NEWS: some Ford Mach-E Buyers In New Jersey Are Being Given A $5k Discount
If you would have qualified for the $5,000 ChargeUp New Jersey rebate (ordered before Dec 15,2020, and MSRP under $55,000), but got delivery after the program closed on March 15, 2021, then Ford will be giving you a good-will discount of $5,000 towards your purchase. This affects about 125 customers.
m.carsdirect.com
If you would have qualified for the $5,000 ChargeUp New Jersey rebate (ordered before Dec 15,2020, and MSRP under $55,000), but got delivery after the program closed on March 15, 2021, then Ford will be giving you a good-will discount of $5,000 towards your purchase. This affects about 125 customers.
Ford Mach-E Buyers In New Jersey Are Being Given A $5k Discount
Ford is compensating Mach-E buyers in New Jersey with a $5,000 discount meant to offset the expiration of a popular plug-in incentive called the Charge
I read this but how do I claim or inform my dealer? I just got done several text with them introducing them to the Ford Options Plan prior to my cars arrival (but it's late) -GOOD NEWS: some Ford Mach-E Buyers In New Jersey Are Being Given A $5k Discount
If you would have qualified for the $5,000 ChargeUp New Jersey rebate (ordered before Dec 15,2020, and MSRP under $55,000), but got delivery after the program closed on March 15, 2021, then Ford will be giving you a good-will discount of $5,000 towards your purchase. This affects about 125 customers.
Ford Mach-E Buyers In New Jersey Are Being Given A $5k Discount
Ford is compensating Mach-E buyers in New Jersey with a $5,000 discount meant to offset the expiration of a popular plug-in incentive called the Charge
I assume I am one of those 128 customers since it was ordered 7/20 and expected build date was Nov of 2020 until built on March 5th, 2021. I'd love to send them information on this as well so I don't go into it with some of the horror stories I have seen on this forum.
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Looks like you could be (depends on your MSRP). Hopefully, Ford Corporate will contact you directly through the mail, or e-mail about this, prior to your car being delivered. It will be a certificate in your name.
The article says the quote is from Emma Berg, I would Direct Message her on Twitter and inquire.
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Great to see Levine share it on Twitter recently!
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I don't know if this prompted them to act quicker but I Tweeted Jim Farley yesterday afternoon and that same evening I recieved a call from my dealer saying I will be receiving a check in the same amount as the NJ rebate. I took delivery of my Mach-E at the beginning of this month. My MME was under 55K..
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Hey everyone, quick update: If you fit this category and haven't received your certificate number yet. My car was delivered last night, I called ford today and they provided me with the cert number to provide to dealer for the $5000 off. I haven't officially gone through anything yet but so far seems like it is that seamless for those 125 customers in NJ whom were affected.
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