As we all know, buying an EV can be confusing as the cost you pay the dealer is not the true cost you paid for the vehicle. After considering the incentives, your true vehicle cost is much less than the sticker price. I've been considering pulling the trigger on the Bolt and wanted to make sure all the math sits right with my bank account.
I've simulated the monthly payments from my hypothetical loan, however, it is a bit more complex due to the arrival of the incentives over the duration of the loan. Therefore, I created a spreadsheet to automatically compute my monthly payments on my hypothetical loan assuming I receive certain tax credits or rebates at a certain period in time.
Its a bit confusing to explain via text so I will let my spreadsheet do the talking. Feel free to download and manipulate however you wish. I'd also love some feedback in case you have any good ideas for improvements.
Enjoy!
View attachment EV Loan Amortization Schedule.xlsx.zip
I've simulated the monthly payments from my hypothetical loan, however, it is a bit more complex due to the arrival of the incentives over the duration of the loan. Therefore, I created a spreadsheet to automatically compute my monthly payments on my hypothetical loan assuming I receive certain tax credits or rebates at a certain period in time.
Its a bit confusing to explain via text so I will let my spreadsheet do the talking. Feel free to download and manipulate however you wish. I'd also love some feedback in case you have any good ideas for improvements.
Enjoy!
View attachment EV Loan Amortization Schedule.xlsx.zip