Got my check today!

[georgek]

Whew! Today's mail brought my Illinois rebate check for $3920.00. Not sure why it's not the full $4, as the state site suggests. Must be some kind of processing fee?

Bought the car in January, and applied in March. In July, they contacted me re window sticker problems. It took a while to straighten that out.

And I haven't forgotten about it. But I kept thinking they will come up with some other reason why to send me packing. But, alas, it was mailed (Sept. 30) the day before the gov. shut down/slow down .

Now I'm trying to decide if I should take my wife out to a nice dinner, bank it, and or buy something we wouldn't ordinarily buy?

 

[az erik]

Wait. This was for a 2013? that wasn't a lease? I'm lost and but would LOVE a $4k or nearly 4k check.

 

[georgek]

Wait. This was for a 2013? that wasn't a lease? I'm lost and but would LOVE a $4k or nearly 4k check.

az erik, Correct. It wasn't a lease. I took delivery in Jan. 2013. I applied for the Illinois state electric vehicle tax credit. In the state of Illinois, it is a one time $4,000 direct credit (cash).

The FEDERAL tax reduction is up to $7,500, depending on the amount of your 2013 federal tax amount. That is, if the bottom line of your 2013 federal taxes owed (after deductions, etc.), is $7,500 or less, then you get that much netted against your taxes. If you end up only owing say, $5000. in federal taxes, that is what your reduction will be. If you end up owing $10,000, then your reduction is $7500, and you would owe $2,500 to Uncle Sam.

It's more complicated than it needs to be.

So what state are you in?

 

[dmen]

Whew! Today's mail brought my Illinois rebate check for $3920.00. Not sure why it's not the full $4, as the state site suggests. Must be some kind of processing fee?

The IL state rebate for EVs is 10% of vehicle price, up to $4000. Yours must have been $39200. Apparently tax, title etc not included in cost figure.
7 months was about the delay I saw too. Of note, has to be pure EV... Volts & Energis don't qualify.

Enjoy dinner!

 

[georgek]

dmen,

Thanks for that. That must be it.

 

[EVA]

Yeah George, you had to read all the fine print carefully to see the 10% of sticker. They are also supposed to deduct options, like leather or special paint. Congratulations on the check!

The payouts are at very strange intervals also - roughly every six months they start paying the rebates. I happened to buy my car about 2 weeks after the summer deadline. I won't see any money for almost 9 months, maybe more.

 

[georgek]

The payouts are at very strange intervals also - roughly every six months they start paying the rebates. I happened to buy my car about 2 weeks after the summer deadline. I won't see any money for almost 9 months, maybe more.

EVA, yes, Illinois seems to do it 6 months or so, from when you send in your form.
Another reason I was concerned is that Illinois is having financial problems, as is their biggest source of income, Chicago. And I was afraid they would stop paying some of their (non- essential) liabilities.