Dealership keeping the EV lease rebate for themselves

Ask the Hackrs Buy/Finance
1

Howdy, I’m in Oregon, new to this site. I’m considering leasing a Tucson PHEV or Sportage PHEV to get the lease tax rebate benefit (not sure what you call it). If I learn that the rebate is $7500, but the dealership is offering only a $4000 rebate, does that mean the dealership is pocketing the difference? That would stick in my craw. Thanks

2

Yes. If a vehicle qualifies for the $7500, that goes to the leasing company (not you).

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3

25 Tucsons and Sportages are only getting < $4000
24s are getting $6000/$6750

So yes the bank is keeping it , NOT the dealer. The dealer does not control rebates, but he might mark up the price on you to keep the rebate

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4

You do not get a federal ev tax credit on a lease.

The bank gets a federal ev tax credit when they purchase the vehicle to lease it to you. They then get to choose to do whatever they want with it. You get whatever incentives the bank offers. The dealer has no say in the matter.

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5

Thanks for that. I find it funny/strange when the dealership thinks they appear generous by offering a $3000 tax rebate on a lease, but the dealership finance company is pocketing a bunch of the rebate for themselves.

6

The dealership and the finance company are completely separate businesses.

The dealer is not involved in what incentives are offered.