[PolestarMW]

Hi everyone! I ordered a thunder / slate non-PP back in September for NYC delivery in December. One of the deciding factors (besides the awesome acceleration, styling, hatch, interior, tech, etc..) was the $7500 federal and $2000 New York State EV rebate that is supposed to be applied to the leases in NYC. Before I made the deposit, I questioned the workers at the NYC pop-up location and quickly learned that they were as confused as I was (if not more). They said to get a written statement from CS about what how the rebates would be applied to the price but CS keeps saying to wait "a few more weeks".

I'm asking because the website is very unclear. As many of you know, it says "Applied Savings of $7500*" in the confirmed order page but incentives are also listed as "$0" in the pricing breakdown. This is a real concern to me because my monthly lease payment (with $3k drive off/36 month/10k miles) goes anywhere from $484 when I add $9500 as the down payment (as Tesla does it) or $757 when I assume incentives are included in the calculation. If it's ~$757, there's no point in waiting as I won't be paying that amount.

Has anyone gotten guidance on how the EV incentives will be applied to the purchase price in the US? Any help would be appreciated!

ps. above is assuming the NYS EV website is updated with Polestar prior to Delivery (How the Drive Clean Rebate Works - NYSERDA)

 

[polerad]

The online financing/lease calculator is incredibly buggy and has been for some time. I think the actual terms docs from Manhattan Motors (for the NY Space) are what’s needed.
I don’t believe any of us in the US have seen those formal terms docs.

 

[PolestarMW]

Latest response from CS:

"As we move closer towards your delivery timeline, you will be contacted to finalize your order, take care of financing, and make the arrangements for vehicle hand-over or delivery. This process will take place approximately 2 weeks before delivery of your vehicle is scheduled. Also at that this point, you will be able to see your detailed cost breakdown. "

 

[JRRF]

If you are leasing I don't believe the $7,500 rebate applies. I'd be thrilled if I could get the lease price down in the 700s.

 

[polerad]

Latest response from CS:

"As we move closer towards your delivery timeline, you will be contacted to finalize your order, take care of financing, and make the arrangements for vehicle hand-over or delivery. This process will take place approximately 2 weeks before delivery of your vehicle is scheduled. Also at that this point, you will be able to see your detailed cost breakdown. "

As a preview of Christmas future, a number of us have been contacted to finalize our orders and are at different stages of getting through that process.

I think many of us are stuck at having given our information for a credit check to set up the financials, and are awaiting to hear back from our Space to move forward with receiving terms sheets, signing the contract, handing over $$, and setting a delivery date.

My own portal indicates that delivery is expected in September; I've been told by CS that end of October is the current actual expectation; my credit check info has been entered twice and have been waiting ~1 week now since the last entry; and I have yet to hear from anyone of my Space to confirm any of these details, although CS (Mike/Alane) has been very responsive.

Given that there's 6 business days left in October, my current expectation is November for delivery, and I believe I'll be in the first batch of US deliveries based on my order # and available info.

 

[polerad]

If you are leasing I don't believe the $7,500 rebate applies. I'd be thrilled if I could get the lease price down in the 700s.

I thought standard practice is that for a lease the incentive was taken by the vendor and came off the front end of the total capitalized cost?
In effect, that makes the incentive more up front for a lease than for financing.

 

[JRRF]

I thought standard practice is that for a lease the incentive was taken by the vendor and came off the front end of the total capitalized cost?
In effect, that makes the incentive more up front for a lease than for financing.

On my last lease I got a partial credit of the 7500. For the Polestar the manager there told me that the 7500 is not applied at all and gave me a figure that made that clear.

 

[PolestarMW]

On my last lease I got a partial credit of the 7500. For the Polestar the manager there told me that the 7500 is not applied at all and gave me a figure that made that clear.

When leasing, the federal incentive goes to the leasing company. However, the rebate is traditionally passed on to the customer as a capitalized cost reduction (source: Tax Credits and Rebates for Plug-In Cars Made Easy). For example, Volvo's advertised lease offer for the S60 R-Expression Design automatically includes the rebate in its cap cost reduction calculation. Hopefully Polestar does the same!

 

[Ivan1]

from July communication (Alane):

​

​ Hi Cory, Thank you for contacting us. The federal incentive is applied to the lease as a whole and reflected in the monthly payments to make them less expensive. Your Polestar space will confirm and handle all details regarding leasing.​

 

[JRRF]

I'm happy to hear that. I hope my final lease payment is less than what the Space already quoted me.

 

[polerad]

I'm happy to hear that. I hope my final lease payment is less than what the Space already quoted me.

Was this over the phone or did they give you the actual terms sheet?

Feel like I'm being paranoid, but I'm starting to distrust any info from different Polestar contacts that isn't written out in full detail or straight from the finance manager who will be the one to actually sign off on the deal.

 

[JRRF]

Was this over the phone or did they give you the actual terms sheet?

Feel like I'm being paranoid, but I'm starting to distrust any info from different Polestar contacts that isn't written out in full detail or straight from the finance manager who will be the one to actually sign off on the deal.

Agreed. I got quotes for several lease configs over the phone with the Space in NY. I'll be pleasantly surprised if the price drops.

 

[JRRF]

And I can't come up with any of the figures on the PS website. Their total seems several thousand off of anything I'm able to calculate.