I first posted this in the Conversion section, but realized I'm new, so this might be a better spot.
I'll admit that I'm late in joining the CNG craze here in Utah, but better late than never, I suppose. Last week I flew to Arizona because there was a GSA auction for some Bi-Fuel CNG F150's. I was blown away when a 2001 extended cab F150 with 30,000 miles on it sold for over $17,000. That seems crazy when I saw a similar model normal gasoline F150 sell for $4,500.
So that got me on the thought of conversion. I know it's expensive, but I have been reading up on the subject. It looks like a conversion will run you about $10,000. I know there is a range, but that appears average. But I'm looking and in Utah there is the tax rebate up to $3000, but I'm also seeing that if you convert to dedicated CNG there is also a Federal rebate of up to $5000 for small cars. Does anyone know anything about that?
I read something that says when you convert a late model "clean" car to dedicated CNG they'll potentially take half of the conversion cost (in this case, $10K) and apply a multiplier of 0.8. That would put the federal tax credit at $4K and the Utah credit at $3K (if I'm doing my math right). That would net out my out of pocket expense at $3K. If I drive my truck 15,000 miles this year, at maybe 20 MPG, that'd be 750 gallons. Saving (right now) about $3 per gallon, that saves me $2,250 this year alone.
Someone please let me know if my math is off. I really want to pull the trigger, but want to make sure it makes sense too. I don't mind going to dedicated CNG because I'm in Salt Lake where there are stations and the only other place I'd drive it is Logan for family and there's a station there too. Thanks!
I love this site, by the way!
I'll admit that I'm late in joining the CNG craze here in Utah, but better late than never, I suppose. Last week I flew to Arizona because there was a GSA auction for some Bi-Fuel CNG F150's. I was blown away when a 2001 extended cab F150 with 30,000 miles on it sold for over $17,000. That seems crazy when I saw a similar model normal gasoline F150 sell for $4,500.
So that got me on the thought of conversion. I know it's expensive, but I have been reading up on the subject. It looks like a conversion will run you about $10,000. I know there is a range, but that appears average. But I'm looking and in Utah there is the tax rebate up to $3000, but I'm also seeing that if you convert to dedicated CNG there is also a Federal rebate of up to $5000 for small cars. Does anyone know anything about that?
I read something that says when you convert a late model "clean" car to dedicated CNG they'll potentially take half of the conversion cost (in this case, $10K) and apply a multiplier of 0.8. That would put the federal tax credit at $4K and the Utah credit at $3K (if I'm doing my math right). That would net out my out of pocket expense at $3K. If I drive my truck 15,000 miles this year, at maybe 20 MPG, that'd be 750 gallons. Saving (right now) about $3 per gallon, that saves me $2,250 this year alone.
Someone please let me know if my math is off. I really want to pull the trigger, but want to make sure it makes sense too. I don't mind going to dedicated CNG because I'm in Salt Lake where there are stations and the only other place I'd drive it is Logan for family and there's a station there too. Thanks!
I love this site, by the way!
Comment