Posts Tagged Illinois

Hawaii Hang 20 for Brammo?

I’ve never been to Hawaii, but I imagine it’s a perfect place for an EV like the Brammo Enertia.  It’s pretty small.  The weather’s great. And they have some great roads for riding on.  It’s also the next stop on the SIWIBABE list (States in which I’d buy a Brammo Enertia).

This month, Hawaii is scheduled to begin providing “rebates for Hawaii residents, businesses, State and County agencies, and nonprofit entities for the initial purchase of new, commercially available electric vehicles for use in Hawaii and for the purchase and installation of commercially available charging equipment in Hawaii.” See this page.

Oops.  Almost forgot the standard Brammofan Tax Advisor Disclaimer:

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.

The amount of the tax rebate (hey!  it’s a rebate, not a credit, so you’re getting a check, Dan-o) is “up to 20% of the vehicle purchase price, up to a maximum of $4500 per vehicle.”  I’m not sure why they put that first “up to” there… I see no other limiting information, but the official applications may include some fine print to mull over.

Let’s go to the numbers:

$7995 – retail price of the Brammo Enertia

-799 – Federal Tax Credit

-1599 – Hawaii Tax Rebate

——–

$5597

Not too shabby, Big Kahuna.  On the SIWIBABE list, that puts the Aloha State in between Illinois and Georgia:

Oklahoma: $4059

Colorado: $4225

Illinois: $4240

Hawaii: $5597

Georgia: $5696

California: $5834

Oregon: $6127.

Of course, there’s also the problem of getting a Brammo Enertia to the Big Island.  I am somewhat doubtful that Brammo’s $500 delivery fee for residents of states other than California and Oregon would apply, but it you’re one of the thousands of readers of Brammofan in Hawaii, and you’re ready to give it a shot, put down that pina colada and get busy: http://www.brammo.com.  Or, if you want to wait for the Empulse, at least get your preorder in.  The Empulse 10.0 would be:

13995

-1399 Fed cred

-2799 Hawaii rebate

—-

$9797

This information should be showing up soon over on empulsebuyer.com, as well, complete with his Total Cost of Ownership calculator.

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Colorado Brammo-fantasy – Revisited

Colorado has just approved the Brammo Enertia as eligible for the state’s Alternative Fuel Tax Credit.  Although it doesn’t show up yet on their online document as an approved vehicle, the State said in a recent email:

Thank you for all the information on your electric motorcycle. It appears to qualify for the Colorado Alternative fuel tax credit.  I show the incremental price difference to be $3,495.00 your vehicle would qualify under category 1 so would be entitled  to an 85% credit. $3,495x.85= $2,971.00 minus any federal tax credit available.

What does this mean in English (and with real numbers)?

It means that if you buy a Brammo Enertia in Colorado, you will initially hand over the retail price of the bike plus any sales tax (I think Colorado’s State Sales Tax is 2.9%, but I’m going to leave all the taxes out of these articles because different cities and counties have their own sales taxes, and, frankly, I’ve got better things to do than to chase down local tax rates.  Better things, like…um… Hey… do your own homework.)  Speaking of homework . . .

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.

Colorado by the numbers:

$7995 – Retail price of Brammo Enertia

-$799 – Federal Tax Credit

-$2971 – Colorado Tax Credit

____________________

$4225

Okay, so that’s not quite as good as the $2700 figure I came up with the first time I wrote about this issue, but that’s what you get for trusting the advice of a man who chose his profession because he couldn’t stand the sight of blood and because he didn’t “do” numbers.

Still, $4225 is nothing to sneeze at.

In the current tally of SIWIBABE (States in which I’d buy a Brammo Enertia) here’s the rundown:

Oklahoma: $4059

Colorado: $4225

Illinois: $4240

California: $5834

On some of these, I added things like a “delivery charge” and some fees here and there, but this is just for comparison purposes, anyway.  I’ve never considered moving to Oklahoma before, but given that my home state of Missouri offers exactly zilch in the area of alternative vehicle incentives, it might be worth at least making a friend with a Sooner.

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In Illinois? Want a Brammo? Get Best Buy on it.

Brammofan is on the Tax Incentive Warpath.  We’ve looked at Colorado, California, and, just yesterday, Oklahoma.

Today, it’s Illinois’ turn.

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.

Before we begin, close your eyes and imagine walking into your favorite Chicagoland Best Buy.  The doors open, beckoning you inside.  To your left is Stu, the burly guy who normally checks your receipt as you leave.  As you enter, he also would put a magic sticker on the laptop you were bringing to Fred, the Geek Squad guy, for him to repair and copy the hidden porn directory onto his thumb drive.  Stu sizes you up as you enter and sees you have no merchandise in your hands.  He notices that you are looking straight ahead.  He sees your eyes focus on the display in the front of the store: Electric Vehicles at Best Buy.  Specifically, he sees the look of ecstasy as you spy this:

Now, open your eyes.

You’ve gotten a glimpse at the future in Illinois, but I have no idea when that future will become our reality.  Until it does, none of the tax incentive information I’m about to share will apply to the Enertia.  Why?  Read on, and all will be revealed.

Illinois has a great program called the “Alternate Fuels Rebate Program” that states:

Vehicle Rebate applies to the incremental cost of an alternate fuel vehicle purchased from a dealership or similar vendor as compared to the cost of its gasoline or diesel counterpart.  The vehicle must be purchased from an Illinois dealership or similar company doing business in Illinois.

The amount of the Vehicle Rebate is for 80% of the incremental cost of the alternate fuel vehicle versus the same type of gasoline or diesel vehicle, up to $4,000.

Translation:  If you buy an Enertia from an Illinois dealership or similar company, you should qualify for a rebate for 80% of the difference in cost between the Enertia and “the same type of gasoline or diesel vehicle.”

Brammo has claimed, fairly consistently, that the Enertia is comparable to a 250cc internal combustion engine (ICE) motorcycle.  For instance, the Ninja 250R has a suggested retail price of $4300 – $4500.  The “incremental” cost of the Enertia would be $7995 – $4300 = $3695.  In other words, an Enertia buyer is paying a $3695 premium to get an electric motorcycle, rather than a comparably-powerful ICE motorcycle.

The rebate would equal 80% of $3695, or $2956.  The Federal tax credit is $799.  7995 – 2956 – 799 = $4240.

So the out-of-pocket on the retail price of the Enertia would be $4240 . . . PROVIDED, however, that you bought it from an “Illinois dealership or similar company.”  So far, no such dealerships exist in Illinois.

There are plans to roll out the Enertia to select Best Buy stores in Illinois.  Those plans are dependent upon powerful Best Buy people who wear ties almost every day,  like Kai Patel, the Executive Vice President of Emerging Business, and Rick Rommell, the Senior Vice President of Emerging Business. Because I’m certain they read my blog each day, I’ll ask them to reply in the comments to the question, “When will the Enertia be sold in Illinois Best Buy stores?”

Just to sprinkle a little rain on your happy thoughts of the future, I want to remind you that certain taxes and fees may apply to your Brammo Enertia purchase in future-Chicago.  For example, Illinois has a 7.25% sales tax on items to be titled or registered, but if you lived in Chicago, you’d end up paying about 8.5% in sales tax. That would add about $680 onto the cost.  In 2009, the Federal stimulus bill allowed you to take an income tax credit for your sales tax on vehicles purchased that year, but this law has lapsed.  I don’t know about fees such as registration/title/license fees that might be charged, but you should consider that.  Also, you’ll have to insure your Enertia, buy a great helmet, protective hear, a hefty stick to beat off admirers, and electricity.

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