I have a Volvo xc90 lease coming to an end in May in Maryland. Is there any way to use the tax credit from it on a different brand car lease? Since Volvo doesn’t allow 3rd party buyouts, only thing I was thinking was to pay off the car ($41k). Then trade it in to new dealer while leasing different brand which would be around the same price as the current payoff on the xc90. But are dealers able to pay for a trade in with cash but still apply the tax credit on the new lease? Or does the trade in tax credit only work by reducing the price of the new car being leased?
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