UPDATED, Below, with new $$ amounts
One of the most clicked posts I’ve ever written was this one about the Colorado tax credit and how, using it and other incentives, it was possible to bring the final out-of-pocket cost of the Brammo Enertia down to $2,540. (Oops… I think it’s slightly more than that, but not much… recalculation to come) Now, it’s California’s turn, because the Enertia just got approved by the California as eligible for the grants. Brammo released this email from the California Air Resources Board:
Congratulations! The California Air Resources Board (ARB) has reviewed your vehicle eligibility application and has determined that 2010 model year Brammo Enertia motorcycles purchased or leased for 36 months or longer on or after March 15, 2010, and having a two-year warranty are eligible to receive grants of $1,500 on a first-come first‑served basis contingent upon the availability of CVRP funding. The CVRP Manager at the California Center for Sustainable Energy will update the vehicle eligibility list available from the CVRP website (http://cvrp.energycenter.org). An e-signature copy of the approval letter is attached. A hard-copy of the letter has been mailed to you.
Brammo customers requesting a CVRP rebate will need to provide the program administrator evidence, either in the purchase agreement or in a separate receipt, that they purchased the second year warranty.
So, all you would-be on-the-fence Enertia buyers in California… here’s the deal. Buy your Enertia now for $7995, get the $800 Federal Tax Credit, and get the $1500 California Grant.
7995 – 800 – 1500 = 5695
$5695 for an Enertia.
More details, below:
Let’s recap the basic pricing and the Federal tax credit:
Disclaimer: Don’t get your tax or other financial advice from anyone whose online name ends in -fan. This means: do your own homework on this purchase. I’m just trying to get you to think.
United States of America
Let’s assume for the sake of simplicity and Ameri-centrism, that you are a citizen of the U.S. You have just bought a Brammo Enertia powercycle, and it cost $7,995.
Thanks to the Federal Government, you are eligible for a tax credit on 10 percent of your purchase price. This isn’t a rebate, so you don’t get the “benefit” of the money until you file your income tax return for the year. Since we’re looking at ultimate out-of-pocket, let’s go ahead and credit that amount: 10% of $7995 is $800 (we’re rounding up) which brings the out-of-pocket to: $7195.
California’s State Tax Incentives
California’s Clean Vehicle Rebate Project currently provides a $1,500 rebate for the purchase of an eligible zero-emission motorcycle.
7995 – 800 – 1500 = 5695
I know what you’re thinking. “But Brammofan, surely it can’t get better than this?”
Just hold on to your butts. The ride’s not over.
Remember that check for $7995 that you handed over to Best Buy? You didn’t really pay by check, did you? Of course you didn’t. You used your Reward Zone card, didn’t you? So you basically earned $5 for every $250 you spent at Best Buy. So you ended up with an extra $160 you can spend at Best Buy… or… GIVING you an extra $160… because you were going to shell out at least that much at Best Buy anyway, in order to complete your collection of late 1970s hair band CDs, right?
So, where are we now?
7995 – 800 – 1500 – 160 = $5535
So, I’ll ask it again:
Hey, Einstein… how much are you going to be saving at the gas pump this year because you’re not driving your Landcrusher back and forth to work?
Hey, Judy…how much money are you going to save because guys are buying all your drinks so they can sit next to the “Powercycle Chick” at the biker bar?
And you… yes you, Mr. Hollywood Hills-livin’ reality-TV-Show-makin’ but economy-concernin’ Director guy… you know who you are. How much longer are you going to wait for your never-happenin’ Aptera to materialize? Stop your polluting and get down to Best Buy and plunk your money down on the Brammo Enertia. Seriously… you have no idea how long this rebate is going to be in place before Arnold shows up at your door, wearing his barrel, tin cup in hand, begging for money and saying, “oh I’m so sorry but you waited too long to buy the Enertia. Now, can you spare some money?” It’s $5535 we’re talking about here. You blow through more than that in “personal trainer” services in a month… amiright?
Come on people… no brainer here.
Run, don’t walk, to your nearest Best Buy (as long as it’s one of the Best Buy’s that currently selling them… El Segundo, San Marcos… check the brammo.com site for the others) and plunk down that Rewards Card, get the two year warranty, and start filling out the application for the grant.
UPDATE I neglected to put in the cost of the two-year warranty required by California for the Enertia to be eligible for the grant. That warranty is $ 299. That brings the total out-of-pocket cost (if you use the Rewards card) to: