Here’s How You Can Get Paid to Purchase or Lease a Hybrid MINI Countryman
The case for investing in a plug-in electric hybrid (PHEV) vehicle – such as MINI Cooper’s SE Countryman ALL4 – gets stronger all the time. There’s a compelling financial case to be made on top of the good environmental sense. Compelling along the order of generous federal and Colorado tax credits on your purchase or lease that can be immediately applied to the sale or lease price of your car!
SAVE MONEY AND THE ENVIRONMENT BY GOING ELECTRIC!
Plug-in hybrids don’t use fossil fuels (gasoline or diesel) and so they don’t emit greenhouse gases from their tailpipes. That’s good for the air and atmosphere, which is why the government is providing drivers with incentives. And overall, consumers will spend less for the electricity to fuel their vehicles than they would on similar gas-powered vehicles.
TAX CREDIT ABUNDANT FOR EV AND PHEZ DRIVERS
The feds offer a $4,001 tax credit on the SE Countryman. Leased vehicle tax credit is less. Colorado’s tax credit, meanwhile, is $5,000 on a purchased PHEV and $2,500 for a similar leased vehicle. The money is available right off the top as a rebate, providing you go through BMW Financial Services, so you don’t have to wait until tax time and claim it on your tax return.
The federal tax credits will be phased out once BMW has sold 200,000 PHEVs and electric vehicle, while the Colorado tax credit will be phased out in stage by January 2022. BMW/MINI is working aggressively to offer more EVs and PHEVs. In addition to the MINI Cooper SE Countryman ALL4, MINI expects to bring at least two more of these energy efficient and environmentally friendly vehicles to market within the next year or so.
There are some qualifiers, including what your tax bracket is, so you should be sure to check with your tax adviser, as well as your Schomp MINI client advisor, to see precisely how much you are eligible to receive. Other qualifiers include requiring you to specify you are taking the credit up front at the time you sign your sale or lease contract, and titling and licensing your new vehicle in Colorado. Once you’ve elected to the immediate rebate you can’t also take it later on your tax return.
COLORADO IS A LEADER IN IMPROVING AIR QUALITY STANDARDS
Colorado is moving aggressively toward more stringent emission limits and EVs and PHEVs are the most reliable ways for manufacturers to achieve them. Governor Hickenlooper recently signed an executive order that instructs the Colorado Department of Public Health and Environment to develop a rule establishing a Low-Emissions Vehicle (LEV) program in Colorado similar to one in effect in California. It would reduce greenhouse-gas emissions by 26 percent by 2025.
The Colorado Air Quality Control Commission could adopt this new rule in August and it would add Colorado to the 12 states and the District of Columbia with tougher emissions standards than the federal government has.