[DrFunkelstein]

I put down my deposit for a 23 v60PE a couple months ago. My sales rep told me they heard that Volvo is just building the PEs basically one at a time and moving down their order list regardless of dealer location, allocation, etc. Their understanding is Volvo is still working through the 22 orders that didn’t get filled, and will then start on the 23 orders. There’s no timeline on any particular order since they’re not coming out at a consistent rate. They fully intend to build everyone’s order but there’s just no telling how long it will actually take.

 

[DrFunkelstein]

If you planned on leasing a V60 again, there is some good policy news out of the US Treasury this week that includes EU manufactured Volvo cars that previously qualified for the $7,500 EV credit. The same more restrictive 2023 direct purchase policies apply, but beginning 1/1/23, leasing companies (such as Volvo Financial Services) will be able to pass the previous EV credits along to consumers. With leases, the purchase price cap is waived as well.

Do you have more info on this? I had resigned myself to losing out on the credit due to the V60s being made in Sweden.

 

[DrFunkelstein]

So does the Polestar qualify for this as a Lease?

The Polestar DOES qualify for now, and Volvo Financial is passing on the $7,500 as a lease incentive. However, they've jacked up the money factor to the worst I've seen in a long time. It's .00409 or 9.816% for 12k miles/year and 3 yrs

 

[DrFunkelstein]

As is often the case in the US, there are two rules. One for consumers with income caps, stringent battery mineral requirements, vehicle MSPR limits, and mandated North American final assembly. The rule for businesses has none of those requirements. Commercial Clean Vehicle Credit | Internal Revenue Service

By long-standing IRS definition, a leased vehicle is a commercial vehicle. Thus as a business owner of a commercial vehicle, the leasing company is eligible for the full credit. While the leasing company has no legal obligation to pass along the $7,500 tax credit to you, most do. The IRS further clarified this in a memo released in December. If you want to lease a $750,000 Ferrari SF90 made in Italy, it qualifies.

Thank you for that info. It seems there is still a lot of confusion about this "loophole" but so far MB and Audi have been open about passing that money on as a lease incentive. I just posted this above as well, but I'm also now hearing that Volvo is doing the same (at least for the V60), but charging dearly for the service with a lease money factor up up north of 9% APR.

 

[DrFunkelstein]

Happy to report my 2023 finally came in! Started the order process way back in May 2022. I have really loved my 2020 but with its lease ending soon, I had to decide if I wanted to buy it out or get into something else. There isn't much on the market right now that interests me, so I figured I would get into the upgraded version and then hold onto it for a while.

Initial impressions: really love the new electric drivetrain. The engine was firing constantly in my 2020 unless I was doing strictly low-speed urban driving. However on the '23 the electric motor is handling everything by itself up to and including freeway onramps and passing. With that and the one pedal mode, this really acts more like an actual EV, albeit with short range, instead of a hybrid. As far as AAOS, I think it is a net upgrade even if some things are worse. Hoping the little annoyances can get fixed over time with updates.

Otherwise, it's my same car (same color even) but improved in many ways. Part of me will miss the supercharger whine on the 2020 but overall I'm very happy with the trade.

Picture tax: