Amazing read, this thread was. Thanks for the content.
Yes enjoy the truck man. I love mine
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Can you please send over the link where you found these retention terms? Iâd like to review and confirm them myself.
ComEd landing page:
https://www.comed.com/about-us/clean-energy/electric-vehicle-rebate-program
Look for this link:
Access the PDF.
BTW, leases have to be 36 months to qualify. Your dealer screwed up⌠itâll be interested to see what happens if the point of sale rebate doesnât fund. Probably worth a message to your sales person or the F&I guy to confirm.
The OP can comment to this, but he likely did pay the $37k upfront, with the rebate being sent later on. The Comed rebates were actual rebates - most were not instantly applied.
That said, yes, his effective monthly payment is much lower once you factor in the rebate.
OP attached his contract. The dealer participated in the point of sale interpretation where the dealer takes the risk to get the funds from ComEd. OP only paid $7,499.16.
If ComEd doesnât enforce the 36 month minimum lease term requirement, itâs all good. But if they do enforce it, I wonder how the dealer will reconcile the gap.
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Closing per OP. For posterity, any leases using a ComEd rebate must
If the applicant sells, transfers, relocates, or otherwise disposes of the vehicle before the 36-month retention period ends, the applicant must: o Notify ComEd within 30 days of the sale, transfer, or relocation. o Return a prorated portion of the rebate, as determined by ComEd, based on the number of months remaining in the retention period.