I totally agree with you! Financing can be a much better option for certain scenarios, especially when it comes to taking advantage of federal EV credits and maintaining long-term value with certain cars.
I especially like the point about the Federal EV credit—it’s important to make sure you get the full benefit, which can be easier to secure when financing. Leasing companies don’t always pass on the full credit, so it’s a great hack for those looking to purchase electric or hybrid vehicles.
The high lease money factor is another big factor. As you mentioned, in some cases, the cost to lease can end up being more expensive than financing from a bank or credit union. So, it’s always good to crunch the numbers.
And yes, the vehicle’s value retention is something people often overlook. If you’re buying a car like a Mercedes AMG or an Audi RS, it can make more financial sense to finance, as you can keep it long-term and even build equity as the car holds its value.
Key Point on Financing:
It’s so true that credit unions and community banks often offer better interest rates. In fact, I’ve found that many of these institutions have very competitive rates for electric vehicles and hybrids. It’s also smart to shop around beyond your local area—sometimes you can find better deals online or with remote membership options.
Thanks for sharing these insights! Definitely gives a lot of food for thought when deciding between financing or leasing.