IRS Refund = Loan payoff = FUV!

[Rickb]

I used my CC for the down payment, but don’t think it’s an option to pay off the balance due. The credit card payment has a 1-3% vendor (Arcimoto) transaction fee. Nothing wrong with using a credit card, providing you pay off the balance due at the end of the month. Who wants to pay 18-21% interest on a credit card balance?

My understanding is the first 100 are sold out, but they are taking deposits on the 2nd Evergreen production run. I recall the production goal was 400 Evergreens by the end of 2019.

[ben]

I used a credit card, not for the points, but because they let me know that I had two weeks to decide whether to take the plunge or wait, and my tax refund didn't arrive for five.  I wouldn't consider using a credit card to be a great financial decision, but in this case it let us bridge that three week gap.

thanks for the "insider" info,... yeah I hear ya about a credit card not being a great financial decision BUT so far I've managed to pay off my credit cards every month and plan to continue to do so

WRT the evergreen edition,... at first just wanted a basic KISS model to get around the neighborhood and downtown San Diego area,... don't really need the "west coast doors" but kinda like the idea of a cargo box,... so since I have the means (i.e. savings) to for an evergreen edition thought what the hey might as well go for it and help get the show on the road (i.e. stop driving a larger than needed four wheel vehicle for "solo" errands)

figure since insurance is based on vehicle purchase price, realize a $20k buy-in for an evergreen is going to cost mover over the long run than a $12k KISS "basic FUV" but again thought what the hey might as well go for it and help get the show on the road (i.e. stop driving a larger than needed four wheel vehicle for "solo" errands),... since earth day is coming up, would be nice to have an FVU to get over to the local celebration

https://www.earthdayweb.org/EarthFair.html

fortunately I live walking distance to the park and have an electric bike,... so an FVU to get over to the local celebration would be a "want" and not a "need"

FYI since you specifically mentioned "I wouldn't consider using a credit card to be a great financial decision" perhaps you might not be too surprised @ 

Should High Schools Teach Financial Literacy?

Only 17 states require a financial literacy course in high school. Perhaps that explains why U.S. adults averaged an "F" on a recent survey about financial literacy from the business school at George Washington University.

https://www.wbur.org/hereandnow/2019/04/...l-literacy

I specifically mention this because the other day driving on my way to sign off on my 2018 tax returns, listened to a news segment about U.S. adults who on average get an "F" WRT financial literacy (and I find this "fact" pretty sad)

[jimball]

I don't use a credit card, but use a bank-issued debit card. The loan I paid off with my refund was to pay for medical bills incurred when my wife broke her wrist in two placed and required surgery to repair it.

[DanPDX]

I used credit card for the points. That only makes sense if you plan on paying the full balance off right away of course.
If I remember correctly, I don’t think they listed credit card as an acceptable form of payment for the final $15k payment. I could be wrong but that seems to be stuck in my memory banks...

[harriska2]

I also used a credit card, mainly for the points ($50). It will get paid off on the first of May. And yes, their faq stipulates wire transfer or eft for the rest.

[CharonPDX]

Between getting a federal refund, and paying the state, I had a net refund of $7. But, we did just get a nice bonus check (my wife is part owner of her family's farm back East - we get an annual check for her share of the profit, and this year's was higher than expected. Not sure why, I haven't dug in to the farm books in a while.) So now I'm feeling better about putting down for the Evergreen.

And yes, I put it on a rewards credit card, that was immediately paid off. We have three credit cards - two with different rewards levels that get paid off in full every month. The third is a much lower rate and higher limit. We keep it around solely for emergency use. (Last time we had to use it was during unemployment when one of our cars needed $4000 in repairs - a car that was needed to look for work. Paid it off over the course of a year after getting a job.)

[Rickb]

$7, Wowser! Imagine what you would have had to pay without the BIG tax cuts for middle America wage earners.

[CharonPDX]

Last year my federal withholding was $9 more than my federal tax due. I got a $9 federal refund last year. Unfortunately, I owed about $2000 between two different states.

This year I obviously planned better. Now if only I could get federal down to single-digit AND state down to single-digit, rather than just combining the two to be single-digit. (As it was, I filed in mid-March, got my federal refund in early April, and used that refund to pay the states yesterday. But the second non-resident state I will always owe, because the income from there doesn't withhold.)