Its totally different language than section 45 though, which specifies a vehicle that has been purchased by a company for the purpose of leasing it.
The language around the used ev credit very specifically doesnt mention anything about purchasing it.
My guess here is that the guidance was written without much thought about this specific scenario and will be clarified. It isnt like there are many off lease evs that this pertains to yet.
Now, a much more interesting hypothetical would be someone that purchased a used bolt/leaf/etc at some point, sold it to a dealer, and then repurchased it from them.
this is the part that 'm the most confused about with how it plays for leases
Iām lucky to be someone thatās beyond the salary cap. If I leased an eligible EV would the bank still get the $7500 credit and potentially pass those savings on to me? Or would I find out that because of my salary those savings donāt exist for the bank either
The bank gets the tax credit, unless they pass it on as an incentive (currently just a few like CCAP and MB) you get nothing but the lease you signed-for and new car smell.
Section 30, which is the personal purchase tax credit, has a salary cap, msrp cap, manufacturing requirements, etc.
Section 45, which is the commercial tax credit that applies to businesses that purchase a vehicle for a business purpose (which includes leasing that vehicle to consumers) does not have a salary cap, msrp cap, manufacturing requirements.
In the case of a lease, the lessor is purchasing the vehicle and they can claim a tax credit under section 45. If they pass on an incentive is totally up to them.
I have been trying to get a new lease and heard that EV leases now can qualify for 7,500 off and since Iām in texas probably the 2,500 state incentive. Most of the more budget EVs are ugly but was trying to decide if this makes EVs a decent lease option. Does this incentive come out in cash like if a 3 year lease comes out to like $15k, my effective lease would cost 15 - 7.5 - 2.5 = 5? I am currently leaseing a 2019 rav4 for $300 and itās due in March. I tried researching but hopefully this community has some insite or experience. Thank you!
On a lease, the lessor qualifies for the tax credit, not you. That means they can, if they chose to, pass on an incentive. You have no say in the manner. They either offer an incentive or they donāt.
In another thread, folks have pointed out that Ally seems to be passing through more incentives than certain captives are. So you might want to check if the dealer you are working with works with Ally.
I have Ford Mustang Mach EV coming in (ordered 9 months ago) and asked the finance manager and they said that Fordās Red Carpet Lease does not kick back any portion of the $7500 that Ford Financial gets.
So I am going to do they hybrid lease/balloon financing thru Ford Options.
At least with Ford Options I am getting back $2000 incentive to the deal.
Yes, I saw the price drops with Tesla, but I can not drive an EV that gets people car sick due to the suspension on the Y.
I currently have the Ford Lightning EV truck and love it.
My wifeās Mustang EV is coming in this month and wanted to lease it but thatās not going to happenā¦
Her MME will net cost $37K before TTL - after the $6500 private cash + $7500 tax credit + $2000 state rebate + $2000 Ford Options incentive + $1000 Ford credit card points.
I didnāt realize there were so many Ford incentives on the MachE, I thought they were selling for MSRP with no manufacturer incentives. $37k is definitely a great price if you are getting the big battery and awdā¦
My incoming ordered Mach E is a Premium base, standard range battery, RWD.
Barely made the $55K IRS cutoff by $25.
My original order was back in April and since Ford pushed my order into a '23, they are giving $6500 back as a price adjustment to make it the same as a '22.
And if I choose the balloon finance, they are giving $2000 incentive.
Plus state & Ford credit (Ford Pass points) gets me down to $37K before TTL.
