I reside in New Jersey and seeking to lease a Nissan Leaf, however, I have two questions
- Can the leasee claim the $3725 NJ EV Rebate?
- Can the leasee claim the up to $7500 tax credit?
or these are restricted to the dealer?
The dealer was not able to answer the question. I trust it here.
The dealer doesn’t claim any credits. The bank does.
The federal tax credit is not available on leases. The bank gets it. They can choose to (or not to) pass it on in the form of incentives.
There’s a good discussion on the NJ credits here: Thought about buying an electric car? NJ may soon offer one of the nation's best incentives
I really appreciate the answer. Saw a Leaf S lease for $46 a month for 24 months with $2250 DAS and figured it will pay me to drive. However, if I cannot claim the tax credit, I’ll break even including the cost of insurance.
The incentives provided by the bank doesn’t include the tax credit unless NMAC incentive of $10k includes the tax credit.
I would bet that $7500 of that $10k is them passing on the federal tax incentive.
You have to do a 36 month lease to get the NJ money.
I’m so happy I came here since the dealership wasn’t quite informative. They’d also tell me anything I wanted to hear. I submitted the order and everything to lock in on the deal then decided to ask the hackers!
I canceled the order since the deal is for 24 months and like you said the tax credit is likely built in and the rebate is only for 36 months leases.
Look through the forum for NJ Chevy Bolt deals
If you can do a one-pay for ~$6-7,000 and get $5K back
I don’t know if BMW forgets or just chooses not to pass the federal tax credit to lessees. I was looking at the numbers for a X3 30e and it just wasn’t adding up. Most 2021 BMW PHEV models get about $5836 in a tax credit but none of the lease offers on their website even hit 2k in lease cash. What’s even funnier is that the née X5 45e has the full $7500 tax credit, but only $500 is lease cash. For the i3 though they do fess up the $7500, but that’s the most they’ll give, without considering the 3k loyalty incentive.
They tend to pass it on eventually, just not on newer models that people buy anyway.
Anyways the NJ rebate does have its issues. It used to be a 24 month resident and “keep the car” minimum then they just changed it out of the blue.
You can try for Bolt, a very long process trying to find the right dealers and deals. The one thing for the bolt deal is that you do have to pay up the full price of 5/6/7k and just wait the months long process to get your money back from NJ. There is the Ioniq EV though. Some notable brokers on here offer some amazing no haggle deals.
Did one bolt back in October for $6700… not getting 6/7k anymore. Anyone still getting those numbers? Want to jump in for a second
Nope. Bolt inventory is very dry in NJ and those numbers aren’t happening anymore. Ioniqs are $7562 though, making them the cheapest EV lease in NJ after CHARGE UP.
Really? How many 2020 bolts are sitting on lots? My perception is some dealerships still have quite a few.
They don’t sit too long, one dealer told me he’s getting in 7 2020 models, won’t last I expect