I have a month or two left on my current 2019 EV lease. With the potential for the Fed tax credit landscape changing more and more, does it make sense to grab a 3 year lease vs 2 years, as the pass-through loophole offered by leasing might not be around in the future?
I’m wondering if there is consensus from the leasing experts as to the right choice, as of Aug 2023.
Thanks!
They’re barely able to move those EVs with the $7500 lease incentive. Without it, they would have to make up for it with an equal amount of factory incentives. I wouldn’t worry too much about that lease incentive going away. Get what works for you. Some people are happy with their 13 month EQS lease.
There’s no such thing as a “consensus” best choice about anything since there are millions of unique circumstances out there and millions of automobiles being leased.
If you view things through a purely financial lens just target the lease duration that has the lowest effective monthly cost you can manage for the vehicles that you view as comparable substitutes.
On the topic of substitutes… some people think a IONIQ is a comparable substitute for a Mercedes EQS. If that’s you… the best deals will likely be on an IONIQ. If you think the only substitute for a BMW i7 is another BMW i7, then your universe of substitutes shrinks a lot and you’ll have fewer options to pick from.
If you view things through a pragmatic usefulness of a BEV, I think leasing shorter duration on CCS/J1772 equipped EVs may be smarter. As BEVs transition to to NACS and vehicles gain access to Tesla Superchargers, you may feel left out if you’re stuck in a CCS BEV while newer vehicles are enjoying Tesla Superchargers.
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