Rookie here. Currently getting out of a 21 Volvo xc 90 lease. Ready to move into a truck. More inclined to move into an electric truck. Love the lightning. Actually made a great connect here for tundras Another connected me with his connect on his lightning. Much appreciated!
Where I’m stuck, I’m not getting even remotely close to the rebates I’m seeing others.
I was told today i couldn’t get the 7500 federal ev credit with a lease. In the research I’ve done, that’s not true.
If a dealer doesn’t give you that rebate, do they get it? Is that the scheme here?
Do dealers get to keep the rebates in general? Is that why some are giving me $4250, others aren’t?
It’s interesting to me. But if i find out I’m absolutely due this rebate, Id like to escalate it with this one dealer I’m talking to.
when you lease a vehicle the credit is given to the manufactorer, some like BMW/Audi will pass all to you, some like Ford may only pass some of it to you.
Dealer can’t touch this money, it’s either you or Ford.
To be pedantic, the owner of the vehicle gets the tax credit when they purchase the vehicle. In the case of a lease, the lessor (the bank you are leasing from) is the owner of the vehicle, so they get it.
Sometimes that bank is owned by the manufacturer, sometimes theyre not related
So Ford Credit picks and chooses who gets the credit? Does the giveback fluctuate on demand/supply? That’s the part I’m lost on. One dealer gives it, the next doesn’t. But they have no say in it? But the same lessor (ford credit) randomly pivots and changes deals for different dealerships?
Any advice on how to handle the money factor game? They all avoid talking about it lol.
Ford rebates on Lightning are complex. They can vary by trim, region and VIN. In some cases, Ford is passing on less than the $7500 (XLT SR). In other cases, they are passing on more (XLT ER, Lariat) maxing out with the Platinum at $15,200. The dealer’s job is to help you qualify for the best rebates given your unique situation. What you need to watch for is dealers including these rebates in their dealer discount. It’s important to analyze a dealer discount before rebates.
Unfortunately, the RateFinder calculator does not properly support Ford programs. The best source for Ford incentives is Edmunds. Here is a link I have shared before;
Ford lease money factors are historically extremely high, which makes the current subvented programs, with rates near zero, very rare. The MF will also vary along similar dimensions as the rebates. I have already recommended a dealer to you who is very transparent with MF.
The R1T program, without F&F is nearly double what a similarly equipped Lightning XLT ER will cost. Even with F&F, the Lightning program is better this month, and the Lightning is a much bigger truck, both cabin and bed size, with an actual service network.
That’s where I’m baffled. The guy you recommended is only giving me a $1500 rebate and he’s telling me i can not get $7500 ev credit from fed because it’s a lease. But everything I’m reading says i absolutely should be getting that credit at the time of sale, based on new rule irs put out Jan 1 2024.
So i guess the $1500 is what it is? But now im lost on this $7500 credit. Would rather the dealer handle the credit and pay less.
You do not get a tax credit on a lease. Period. There have been no changes as of Jan 1 2024 that effect that in any way. The jan 1 changes to make the tax credit a point of sale option only applies to purchases, because on a purchase you can get a tax credit.
You get whatever incentives are available from the bank and only that.
You should find another dealer. Essentially this dealer is offering no discount, they are just claiming the rebates for which you qualify are your discounts. They are also quoting the wrong rebates, for purchasing, instead of leasing. In fact, as I mentioned before, the lease rebate on Platinum is $15,200, so you are actually being under quoted at $15K.
This is more what transparent pricing from a Ford dealer should look like (albeit a XLR SR), discounted starting price separated from RCL rebates. Any dealer you see advertising $7500 off as the only discount, just move on. I would be look for $6500 to $10,000 dealer discount on a Platinum.
We’re in the process of updating Rate Findr for Lightning. Currently, it displays lease cash amounts for all trims, regardless of which trim you select.
For reference, here’s available RCL lease cash on 2023 F-150 Lightning in CA:
RV and MF was also incorrect in Ratefinder, at least for Lightning XLT trim. It seemed to be missing the latest special program. No X-plan incentive this month for Lightning. Tesla conquest does not stack with much, making it hard to use.
Rate Findr is showing the same Lightning XLT RV and MF as your signed deal: 57% and .00006666 (as near as makes no difference to .00007) for 36/7.5K. Looks like it was updated recently!
