My dad is 83, and after riding with me in my Bolt EUV many times, he’s decided he wants an EV of his own. He’s thinking about an Equinox EV, which I’m sure would be fine, but he’s always been a Ford truck guy. I think he’s avoiding the Lightning because it’s pricier than the Equinox, but with the incentives and discounts I’m seeing, I don’t think a Lightning would be out of the question. However, it seems like most of you are eligible for X Plan pricing.
A while ago, I briefly looked into it and I remember something about joining the Mustang Club of America or some aeronautics club (I forget the exact name) to become eligible for X Plan pricing after 90 days. Not sure if we can afford to wait that long since the EV Tax Credit might expire soon. Does anyone have tips on how to become eligible for X Plan pricing faster than 90 days? Thanks!
Unless your dad has a $7500 federal tax burden, he won’t be eligible for the full tax credit. Just a heads up, since some people overlook that the $7500 is a tax credit, not a rebate. You need to owe at least $7500 in federal taxes and not exceed the income limit to take advantage of it.
@Zinn
Yeah, good point. He’d be converting part of his traditional IRA to a Roth to create some tax liability if he buys, but I think he’d prefer to lease and avoid the IRA hassle. X Plan still works with leasing, right?