12-08-2012, 03:52 PM
Join Date: Apr 2012
Things to consider before buying used.
Things to consider before you buy a used Ford Focus Electric.
Since a few used FFE are now for sale, here are a couple of things to consider.
I would highly recomend only buying from a Ford dealership!
Is the remaining warranty transferable to the new owner?
3 year 36,000 mile bumper to bumper warranty
5 year 60,000 mile power train warranty
8 year 100,000 mile 23kwh high voltage battery warranty
Tax credits and other government incentives you most likely will not be able to use.
The federal government is offering $7500 tax credit that reduces your tax liability. Some states are offering up to $2500 in state incentives. Since this only good for new car purchases you will not be able to use the credit. The federal government tracks this by the VIN number of the car. So a possible $7500 to $10,000 government incentive when buying a new Focus Electric does a lot to reduce the price. It is important to note the tax credit will not, under any circumstances, exceed your tax liability. This means you can’t use the credit to generate a tax refund. In other words, if after preparing your taxes, you find you owe the government $7,500, and you bought a suitably qualifying vehicle in 2012, you’re in luck; your tax bill will be reduced to zero. (Taxable income can be found in IRS 1040 form line 44 TAX) You will need to file form 8936 to take the federal tax credit.
However, if you owe say, $2,500, that $2,500 will be the total amount of your tax credit and your tax bill will be reduced to zero. The government isn’t going to then turn around and refund you the other $5,000. Similarly, if you owe no taxes at all, you won’t get the electric car tax credit, nor will you be permitted to roll it, (or as in the scenario above, the $5,000 “balance”) into your potential 2013 tax liability.
Last edited by JeffAnd; 12-08-2012 at 04:01 PM.