[dethmaShine]

I'm making a post to go over my thought process but also looking for some sort of validation or counter opinions.

Model: Premium + Extended Range

I am considering canceling for 2 reasons:

• Price
• Uncertainty for 2021 and moving forward

When it comes to price, my initial calculations were off as I didn't really add the sales tax (ik I am stupid!). Here's how I am pricing things:

Base Price: 52K + Handling = 53.1K
+ Tax (9.25% San Jose) = 4.9K -> 58K
- Federal Tax Incentive = 7.5K -> 50.5K

I don't know if I am eligible for the California state tax incentive of 2.5K because my per capita is on the high end.

I don't know if there are any other incentives at play over here: any employee programs at my company (FB) OR any other incentives whatsoever. So I am looking at a 50K price tag which is a hefty one for my liking.

In terms of uncertainty, I might be moving to Texas in the next year, and essentially all the benefits that I was getting for "free" charging at my company are gone. With charging going to cost a pretty decent price tag from any where b/w 50-80% of the cost of gas, this adds another 5-6K to the tag over 5yrs for example. I am unsure if this is too aggressive but definitely not a conservative estimate. Other uncertainty is COVID still being at play and not driving as much in 2021.

I was actually hoping that the price tag of this car be around 40K with all the incentives (ignoring cost of electricity or gas) but maybe that was far fetched and I made a crucial error in not evaluating the 9.25% price tag for the car.

I am one of the first few that ordered. I think I am in the 10,6** range. Car goes into production in January and I am strongly considering my option here to not get this one. 90-10 rn.

Looking for some constructive criticism on the thought process here. Further if you have more details on incentives, let me know as that might help. Thanks for hearing me out!

 

[Summerlin Bob]

I'm making a post to go over my thought process but also looking for some sort of validation or counter opinions.

Model: Premium + Extended Range

I am considering canceling for 2 reasons:

• Price
• Uncertainty for 2021 and moving forward

When it comes to price, my initial calculations were off as I didn't really add the sales tax (ik I am stupid!). Here's how I am pricing things:

Base Price: 52K + Handling = 53.1K
+ Tax (9.25% San Jose) = 4.9K -> 58K
- Federal Tax Incentive = 7.5K -> 50.5K

I don't know if I am eligible for the California state tax incentive of 2.5K because my per capita is on the high end.

I don't know if there are any other incentives at play over here: any employee programs at my company (FB) OR any other incentives whatsoever. So I am looking at a 50K price tag which is a hefty one for my liking.

In terms of uncertainty, I might be moving to Texas in the next year, and essentially all the benefits that I was getting for "free" charging at my company are gone. With charging going to cost a pretty decent price tag from any where b/w 50-80% of the cost of gas, this adds another 5-6K to the tag over 5yrs for example. I am unsure if this is too aggressive but definitely not a conservative estimate. Other uncertainty is COVID still being at play and not driving as much in 2021.

I was actually hoping that the price tag of this car be around 40K with all the incentives (ignoring cost of electricity or gas) but maybe that was far fetched and I made a crucial error in not evaluating the 9.25% price tag for the car.

I am one of the first few that ordered. I think I am in the 10,6** range. Car goes into production in January and I am strongly considering my option here to not get this one. 90-10 rn.

Looking for some constructive criticism on the thought process here. Further if you have more details on incentives, let me know as that might help. Thanks for hearing me out!

Without knowing anything about you other than what is posted, I will offer this for what it's worth: The MMe is going to be around for quite awhile. If you are not in dire need of a vehicle now wait for the move to Texas or the 'passing of the plague' before committing to a 50k expenditure. Sales tax in Texas is 6.25% at 3% less this offsets any California 'tax breaks' . Good luck with your decision.

 

[Thomas1920]

I'm making a post to go over my thought process but also looking for some sort of validation or counter opinions.

Model: Premium + Extended Range

I am considering canceling for 2 reasons:

• Price
• Uncertainty for 2021 and moving forward

When it comes to price, my initial calculations were off as I didn't really add the sales tax (ik I am stupid!). Here's how I am pricing things:

Base Price: 52K + Handling = 53.1K
+ Tax (9.25% San Jose) = 4.9K -> 58K
- Federal Tax Incentive = 7.5K -> 50.5K

I don't know if I am eligible for the California state tax incentive of 2.5K because my per capita is on the high end.

I don't know if there are any other incentives at play over here: any employee programs at my company (FB) OR any other incentives whatsoever. So I am looking at a 50K price tag which is a hefty one for my liking.

In terms of uncertainty, I might be moving to Texas in the next year, and essentially all the benefits that I was getting for "free" charging at my company are gone. With charging going to cost a pretty decent price tag from any where b/w 50-80% of the cost of gas, this adds another 5-6K to the tag over 5yrs for example. I am unsure if this is too aggressive but definitely not a conservative estimate. Other uncertainty is COVID still being at play and not driving as much in 2021.

I was actually hoping that the price tag of this car be around 40K with all the incentives (ignoring cost of electricity or gas) but maybe that was far fetched and I made a crucial error in not evaluating the 9.25% price tag for the car.

I am one of the first few that ordered. I think I am in the 10,6** range. Car goes into production in January and I am strongly considering my option here to not get this one. 90-10 rn.

Looking for some constructive criticism on the thought process here. Further if you have more details on incentives, let me know as that might help. Thanks for hearing me out!

Counterpoint- It will be really cool to drive! 😎

 

[MachDrive]

I'm making a post to go over my thought process but also looking for some sort of validation or counter opinions.

Model: Premium + Extended Range

I am considering canceling for 2 reasons:

• Price
• Uncertainty for 2021 and moving forward

When it comes to price, my initial calculations were off as I didn't really add the sales tax (ik I am stupid!). Here's how I am pricing things:

Base Price: 52K + Handling = 53.1K
+ Tax (9.25% San Jose) = 4.9K -> 58K
- Federal Tax Incentive = 7.5K -> 50.5K

I don't know if I am eligible for the California state tax incentive of 2.5K because my per capita is on the high end.

I don't know if there are any other incentives at play over here: any employee programs at my company (FB) OR any other incentives whatsoever. So I am looking at a 50K price tag which is a hefty one for my liking.

In terms of uncertainty, I might be moving to Texas in the next year, and essentially all the benefits that I was getting for "free" charging at my company are gone. With charging going to cost a pretty decent price tag from any where b/w 50-80% of the cost of gas, this adds another 5-6K to the tag over 5yrs for example. I am unsure if this is too aggressive but definitely not a conservative estimate. Other uncertainty is COVID still being at play and not driving as much in 2021.

I was actually hoping that the price tag of this car be around 40K with all the incentives (ignoring cost of electricity or gas) but maybe that was far fetched and I made a crucial error in not evaluating the 9.25% price tag for the car.

I am one of the first few that ordered. I think I am in the 10,6** range. Car goes into production in January and I am strongly considering my option here to not get this one. 90-10 rn.

Looking for some constructive criticism on the thought process here. Further if you have more details on incentives, let me know as that might help. Thanks for hearing me out!

Until time of actual purchase, no incentives or purchase/lease deals are known.
If your situation gives you pause, it may he prudent to delay getting a new car.

 

[TxTom]

I'm making a post to go over my thought process but also looking for some sort of validation or counter opinions.

Model: Premium + Extended Range

I am considering canceling for 2 reasons:

• Price
• Uncertainty for 2021 and moving forward

When it comes to price, my initial calculations were off as I didn't really add the sales tax (ik I am stupid!). Here's how I am pricing things:

Base Price: 52K + Handling = 53.1K
+ Tax (9.25% San Jose) = 4.9K -> 58K
- Federal Tax Incentive = 7.5K -> 50.5K

I don't know if I am eligible for the California state tax incentive of 2.5K because my per capita is on the high end.

I don't know if there are any other incentives at play over here: any employee programs at my company (FB) OR any other incentives whatsoever. So I am looking at a 50K price tag which is a hefty one for my liking.

In terms of uncertainty, I might be moving to Texas in the next year, and essentially all the benefits that I was getting for "free" charging at my company are gone. With charging going to cost a pretty decent price tag from any where b/w 50-80% of the cost of gas, this adds another 5-6K to the tag over 5yrs for example. I am unsure if this is too aggressive but definitely not a conservative estimate. Other uncertainty is COVID still being at play and not driving as much in 2021.

I was actually hoping that the price tag of this car be around 40K with all the incentives (ignoring cost of electricity or gas) but maybe that was far fetched and I made a crucial error in not evaluating the 9.25% price tag for the car.

I am one of the first few that ordered. I think I am in the 10,6** range. Car goes into production in January and I am strongly considering my option here to not get this one. 90-10 rn.

Looking for some constructive criticism on the thought process here. Further if you have more details on incentives, let me know as that might help. Thanks for hearing me out!

In Texas, the sales tax on new vehicles is 6.25%, as stated. And the annual vehicle registration fee is significantly less than in CA, about $70/year (no vehicle value component like in CA). Electric rates are much lower here; mine is $.106/kwh all in. However, gas is much lower here, now about $1.65/gallon vs. CA crazy prices. I'd wait, plus no hassle driving an electric car across CA/AZ/NM/TX.

 

[ITZLCTRC]

I'm making a post to go over my thought process but also looking for some sort of validation or counter opinions.

Model: Premium + Extended Range

I am considering canceling for 2 reasons:

• Price
• Uncertainty for 2021 and moving forward

When it comes to price, my initial calculations were off as I didn't really add the sales tax (ik I am stupid!). Here's how I am pricing things:

Base Price: 52K + Handling = 53.1K
+ Tax (9.25% San Jose) = 4.9K -> 58K
- Federal Tax Incentive = 7.5K -> 50.5K

I don't know if I am eligible for the California state tax incentive of 2.5K because my per capita is on the high end.

I don't know if there are any other incentives at play over here: any employee programs at my company (FB) OR any other incentives whatsoever. So I am looking at a 50K price tag which is a hefty one for my liking.

In terms of uncertainty, I might be moving to Texas in the next year, and essentially all the benefits that I was getting for "free" charging at my company are gone. With charging going to cost a pretty decent price tag from any where b/w 50-80% of the cost of gas, this adds another 5-6K to the tag over 5yrs for example. I am unsure if this is too aggressive but definitely not a conservative estimate. Other uncertainty is COVID still being at play and not driving as much in 2021.

I was actually hoping that the price tag of this car be around 40K with all the incentives (ignoring cost of electricity or gas) but maybe that was far fetched and I made a crucial error in not evaluating the 9.25% price tag for the car.

I am one of the first few that ordered. I think I am in the 10,6** range. Car goes into production in January and I am strongly considering my option here to not get this one. 90-10 rn.

Looking for some constructive criticism on the thought process here. Further if you have more details on incentives, let me know as that might help. Thanks for hearing me out!

You know your budget best - what you can, and cannot, afford. I factored in both the sales tax and the Ford Connect charger (also taxed) into my consideration, so when they lowered the price $3K, my decision was solidified. I will be financing part of the car, but until Ford announces their incentives, I have my local credit union's new car loan rate factored in as a backup.

Full disclosure, I don't believe you will get the Federal Tax Incentive (up to $7500) at the time of purchase - it's a credit you will claim when filing your 2021 taxes. The "up to" caveat is there because if you didn't pay at least $7,500 in taxes, you won't qualify for the full incentive. (makes sense, but still).

Also check with your local power utility - in NY, they have an incentive for installing level 2 chargers at your house, on top of the State's tax incentive.

But if you're worried about the cost of charging - or losing your "free" charging access, then you may not be ready for an all-electric car. I don't expect my electric costs to increase more than the cost of gasoline used. (my Volt is BEV with a gas-powered generator). But like you said, factoring 80% the cost of gas for electricity and you're still coming out ahead in the long run - that should be a positive FOR going all electric

 

[Diogenes]

I think BEVs at this point, to make financial sense, are still a "long game". A ~$50K vehicle (after tax credits) is a bit more than we would normally spend on what's primarily going to be a commuter and a grocery shuttle and we would have to pay the $7.5K tax credit up front, put in the charging infrastructure at our house, etc.

I expect our MME, over its say... 150K mile life (70~90K miles with us, remainder with one of lucky our kids who will receive it after we move on), to be at least comparable in the total cost of ownership vs a comparable ICE vehicle.

That said, not everyone can or is interested in playing this "long game". Some folks can't afford the initial $$$ outlay, some folks don't want to keep a car that long, and others are concerned with the drop in value due to a still developing technology.

My analysis is fairly simple. The question I asked myself is... "can we extract $50K + maintenance/other costs of value out of this car over the next 10 years?".

 

[KCC12]

Until time of actual purchase, no incentives or purchase/lease deals are known.
If your situation gives you pause, it may he prudent to delay getting a new car.

My sister said that incentives in S. Cal for the Premium are currently 2.5k...(but only 1k in Michigan.). I know the only # that matters is what the incentives are on the day you purchase. My sister is a Ford Retiree...so she can see things I can’t. That’s just my 2 cents. So is FB moving to TX? Another corporate checking out of CA?

 

[Thomas1920]

My sister said that incentives in S. Cal for the Premium are currently 2.5k...(but only 1k in Michigan.). I know the only # that matters is what the incentives are on the day you purchase. My sister is a Ford Retiree...so she can see things I can’t. That’s just my 2 cents. So is FB moving to TX? Another corporate checking out of CA?

Is the $1k in Michigan through an income tax credit?

 

[KCC12]

Is the $1k in Michigan through an income tax credit?

I believe it is an ’incentive’ at the dealerships on top of the Federal and maybe state tax credits. You can usually look the Incentives up on line by zip code...but since the MME isn’t on lots yet, I don’t know if that option is available on line. I am going by what my sister told me...I haven’ looked it up or talked to my dealer yet. I’ll talk to them on Thursday and let you know.

 

[dethmaShine]

Thank you all for being so kind and constructive in your thoughts. This thread could have easily gone either way but I only received helpful comments in this thread about how to consider logistics moving forward.

I am going to keep my spot for as long as I can and order based on the financial condition as well as my my move to Texas.

My sister said that incentives in S. Cal for the Premium are currently 2.5k...(but only 1k in Michigan.). I know the only # that matters is what the incentives are on the day you purchase. My sister is a Ford Retiree...so she can see things I can’t. That’s just my 2 cents. So is FB moving to TX? Another corporate checking out of CA?

FB is allowing remote work so that's why considering TX strongly.

My analysis is fairly simple. The question I asked myself is... "can we extract $50K + maintenance/other costs of value out of this car over the next 10 years?".

Makes a lot of sense.

Without knowing anything about you other than what is posted, I will offer this for what it's worth: The MMe is going to be around for quite awhile. If you are not in dire need of a vehicle now wait for the move to Texas or the 'passing of the plague' before committing to a 50k expenditure. Sales tax in Texas is 6.25% at 3% less this offsets any California 'tax breaks' . Good luck with your decision.

Thanks. Going to follow your advice very much.

 

[captdf]

I don't know if there are any other incentives at play over here: any employee programs at my company (FB) OR any other incentives whatsoever. So I am looking at a 50K price tag which is a hefty one for my liking.

In CA you should also be eligible for $1,500 through the Clean Fuel Reward program.

California Clean Fuel Reward | EV Rebates and Incentives

Want as much as $1,500 off your new EV lease or purchase? See if you're eligible for the California Clean Fuel Reward & other electric vehicle rebates & tax credits.

www.cleanfuelreward.com

 

[SolarAB]

If cost is a major consideration, there are more affordable EVs that will still perform well. In the SUV style, the VW ID4 and the various Hyundai & Kia offerings are good options that are much less expensive. I took the Kona for a test drive, it was very nice.

 

[Rjsmith]

I'm making a post to go over my thought process but also looking for some sort of validation or counter opinions.

Model: Premium + Extended Range

I am considering canceling for 2 reasons:

• Price
• Uncertainty for 2021 and moving forward

When it comes to price, my initial calculations were off as I didn't really add the sales tax (ik I am stupid!). Here's how I am pricing things:

Base Price: 52K + Handling = 53.1K
+ Tax (9.25% San Jose) = 4.9K -> 58K
- Federal Tax Incentive = 7.5K -> 50.5K

I don't know if I am eligible for the California state tax incentive of 2.5K because my per capita is on the high end.

I don't know if there are any other incentives at play over here: any employee programs at my company (FB) OR any other incentives whatsoever. So I am looking at a 50K price tag which is a hefty one for my liking.

In terms of uncertainty, I might be moving to Texas in the next year, and essentially all the benefits that I was getting for "free" charging at my company are gone. With charging going to cost a pretty decent price tag from any where b/w 50-80% of the cost of gas, this adds another 5-6K to the tag over 5yrs for example. I am unsure if this is too aggressive but definitely not a conservative estimate. Other uncertainty is COVID still being at play and not driving as much in 2021.

I was actually hoping that the price tag of this car be around 40K with all the incentives (ignoring cost of electricity or gas) but maybe that was far fetched and I made a crucial error in not evaluating the 9.25% price tag for the car.

I am one of the first few that ordered. I think I am in the 10,6** range. Car goes into production in January and I am strongly considering my option here to not get this one. 90-10 rn.

Looking for some constructive criticism on the thought process here. Further if you have more details on incentives, let me know as that might help. Thanks for hearing me out!

 

[Rjsmith]

I agree price is steep and I don’t factor in tax credits when calculating price of the car because I have to pay it up front and since I am self employed it washes out for me. I am waiting for the car to be out for a while and then pick up a nice used one for two reasons. 1. Let someone else pay the depreciation 2. Never buy a first year model car, let them work the bugs out first. Good luck with your decision.

 

[guyofthesky]

I'm making a post to go over my thought process but also looking for some sort of validation or counter opinions.

Model: Premium + Extended Range

I am considering canceling for 2 reasons:

• Price
• Uncertainty for 2021 and moving forward

When it comes to price, my initial calculations were off as I didn't really add the sales tax (ik I am stupid!). Here's how I am pricing things:

Base Price: 52K + Handling = 53.1K
+ Tax (9.25% San Jose) = 4.9K -> 58K
- Federal Tax Incentive = 7.5K -> 50.5K

I don't know if I am eligible for the California state tax incentive of 2.5K because my per capita is on the high end.

I don't know if there are any other incentives at play over here: any employee programs at my company (FB) OR any other incentives whatsoever. So I am looking at a 50K price tag which is a hefty one for my liking.

In terms of uncertainty, I might be moving to Texas in the next year, and essentially all the benefits that I was getting for "free" charging at my company are gone. With charging going to cost a pretty decent price tag from any where b/w 50-80% of the cost of gas, this adds another 5-6K to the tag over 5yrs for example. I am unsure if this is too aggressive but definitely not a conservative estimate. Other uncertainty is COVID still being at play and not driving as much in 2021.

I was actually hoping that the price tag of this car be around 40K with all the incentives (ignoring cost of electricity or gas) but maybe that was far fetched and I made a crucial error in not evaluating the 9.25% price tag for the car.

I am one of the first few that ordered. I think I am in the 10,6** range. Car goes into production in January and I am strongly considering my option here to not get this one. 90-10 rn.

Looking for some constructive criticism on the thought process here. Further if you have more details on incentives, let me know as that might help. Thanks for hearing me out!

Will your charging be from home or at DC fast chargers?

I ask because home charging is pretty cheap. A thousand miles per month is maybe 330 kwhr, and at even $0.13/kwhr, that's less than fifty bucks.

If you live where you can't install a level 2 charger, the math is much worse, of course.

 

[Barno]

If cost is a major consideration, there are more affordable EVs that will still perform well. In the SUV style, the VW ID4 and the various Hyundai & Kia offerings are good options that are much less expensive. I took the Kona for a test drive, it was very nice.
[/QUOTE
Kona Recall

Fire concern prompts stop-sale, US recall for 2019-2020 Hyundai Kona Electric

The Hyundai Kona Electric has been recalled over fire concerns, but it hasn't yet found the issue; it's also stopped the sale of the EV until the recall remedy has been performed.

www.greencarreports.com

 

[Kristins]

Another point to consider - Texas periodically has a $2500 EV rebate if you buy after moving here. I got it on my last two cars along with the $7500 federal tax credit - a pretty good deal.