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Discussion Starter #1
Hello all, first off we have a 2009 Smart Passion since new and love it. But my wife (it's her car) said when the ED comes out she wants to try one. So by chance our local Smart dealer sent her an email about an event saturday and we get lured in by getting two free gifts and check out the Smart ED.

Went and got the Smart manager Dan. Nice young man who knew the car quite well. Gave us the keys and off we went. I drove first and couldn't get over how quick off the line it was. And how much better it drove, (smoother). Gave it over to her and we drove about 15 miles city and highway. We were both very impressed.

The lease plan is interesting, monthly payments are not really any good. Trade in for our Smart they said 6,500. $7,500 tax credit. With other deductions we hoping for final cost of 15,000. Does that sound correct or did we misunderstand ?
 

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smart ED leasing starts at $139/mo for a base car costing $25,000.
For every $1,000 in options that are added, the lease goes up "ABOUT" $30/MO.

cabrio ED starts at $199/mo for an MSRP of $28,000
Ditto, another $30/mo per $1,000 added.

SO, if the MSRP is $27,140
$139 + $60 = APPROX $199/mo payment?

I know it isn't exact math, but it's darn close?
 

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Discussion Starter #4
Thank you, how about buying it out right ? Does the price of 15,000 sound correct after discounts, trade in and such.
 

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Check out the Smart USA page. There are incentives for current Mercedes/Smart owners, USAA members, teachers and maybe more. Sounds like you ought to be able to be able to do better than 15K with your trade. When I was doing some calculating I think I got down to around 15K with no trade via the USAA program.

Len
 

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its hard to say with out seeing the contract

dont count on the 7500 from the feds.....thats based on your tax bracket and is not cash in hand you may be able to get a a state rebate if they have any where you live
 

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Th $7500 was taken off he sticker price because MB is going to claim the tax credit - in a lease they're the owner, so they get it.
Correct. The lease payments are lower because Benz gets the write-off on a leased car.

The simplest way to see how much you'll get back from the EV credit if you're buying one is to look at last year's returns. That is, assuming you haven't had a major life changing event this year or last, like you're retiring or have a significant change in your income levels. Best to consult a tax adviser when that happens in any case.

Simple test: Looking on last year's 1040, find line 46 (or really 55) on the back of the form. This is the total tax owed before (and after) credits. The $7,500 credit for the EV goes on line 53, via form 8936. So as long as lines 46/55 are above $7,500, you'll get the full amount back as a credit at the end of the year. If your line 46 is lower (or you have a tax credit that lowers line 55 already), the most you'll get back is what's left on 55.

I did this to get a ball-park figure when I bought my EV last April. I then figured out the difference and used a W4 calculator to adjust my W4 so I got more back per paycheck instead of getting a lump return at the end of the year. (Helped cover some of the car payment...)
 

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Think hard before buying it as opposed to leasing it. Who knows what this thing will be worth in 3 years or what kind of technology is available. If you lease it you don't have that exposure...

New ones might have double the range, who knows? There are huge incentives on the lease, so don't be afraid of it. Also the comment above about adding $30 to the payment for every $1000 in MSRP is incorrect, as about half of the $1000 gets residualized, so it should equate to about $15 per month per $1000.
 

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Ditto. The current generation ED is supposed to be replaced in 2016-2017, so perhaps a lease will definitely be best!

Besides, if it turned out the car wouldn't work for you, you could return it end of lease without the hassle of selling it for a drastic loss. :)
 

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I was end of year1 after tax and incentives at 8500.00 I figured a $200 / month lease at 48 months was $9600.

My ICE was costing me $430 / month including zero finance loan, fuel and insurance and
this smooth operator is only $335 including zero finance loan, worst case $kwh and insurance.

and I still have a great car for a kid in highschool!
 

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Discussion Starter #14
Well we went to our local tax people to check on our availability for the federal $7,500 tax credit. Looking at the last few years we should be good to go. Our state has a $2,500 rebate for ED and we also now know of a $1,000 loyalty from Smart. Things are looking better, our trade in number is at $6,500 right now for our little guy.
 

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Discussion Starter #15
She's still not sure which way to go, lease or buy outright. She doesn't want monthly car payments of 300-400 dollars. So it's lease or cash, been doing research on mostly everything but we do need help on the correct purchase for an outdoor charging system the 220 kind if someone would help please.
 

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I converted my Volt charge cable to a 240 system through an outside company and charge both my Volt and Smart outside in the driveway....It works in Rain or High winds...prior to me installing this in my garage i charged my Volt outside with the stock charge cord with a makeshift cover for Rain and the Elements..and worked great....

I have also charged with the stock Smart cord with an extension cord outside and it works great with no problems including charging with it in the rain....

The above units posted are great systems...I have another thread on charging that may help and others should post in that for all to see so new owners can use for charging assistance
http://www.smartcarofamerica.com/forums/f170/what-have-you-used-charge-your-smart-ed-49648/
 

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Well we went to our local tax people to check on our availability for the federal $7,500 tax credit. Looking at the last few years we should be good to go. Our state has a $2,500 rebate for ED and we also now know of a $1,000 loyalty from Smart. Things are looking better, our trade in number is at $6,500 right now for our little guy.
I received the same $10,000 from the government, but the dealer said $1,000 loyalty discount was only for ICE smart. Since I purchased a 2013 late last year, when 2014 started to come out, the dealer offered me a $2,000 dealer incentive discount :D

The dealer had several used Smart ICE with the same year, color, and options, but 50% more miles than mine. They offered me $2,500 less than they were selling for, so I didn't take the trade in because I rather sell it myself and can get more. Go to kbb.com to see the value of your car.
 

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I was end of year1 after tax and incentives at 8500.00 I figured a $200 / month lease at 48 months was $9600.

My ICE was costing me $430 / month including zero finance loan, fuel and insurance and
this smooth operator is only $335 including zero finance loan, worst case $kwh and insurance.

and I still have a great car for a kid in highschool!
Don't forget the 20% GA state tax incentive (up to $5,000).
 

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The lease plan is interesting, monthly payments are not really any good.
I'm sorry if I missed it, but one thing that I don't think has been mentioned anywhere in this thread of comparing Lease vs Buy is that lease is for 30K miles for 3 years. If you driving requires more than that, leasing may not be practical.

My wife and I lease an ED and the lease mile limit is not an issue for us.
 
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