No. When you lease you don’t qualify for any federal tax credits.
so how is the $7500 accounted in the our tax returns… if its taxable then I should get some form from finance company about it. If its just a “rebate” then there should be no forms to fill up. What am I missing here?
I believe the incentives are just taxed using your sales tax rate - Sales and Use Tax Annotations - 295.0948
Who said there were forms to fill out?
In California, the $7,500 incentive is subject to sales tax when you lease the vehicle. It is not subject to Federal or State income tax.
@happy What did you end up deciding? I think the dealer is using Hyundai’s 7500 cash rebate and also rebate from US bank but still making you give down payment. Probably making a ton of money in this deal. They could have passed on a lot more of that money to you.
I’m curious to see if there is a way to use this deal to do a buy soon after the lease. Does US bank make it hard to purchase early? Also the terms you posted… can anyone interpret them and say what would be included in early buyout?
the 7500 from Hyundai is only available if they use HMF and 7500 from US Bank is only available if they use US Bank. so i do not understand this double dipping you are talking about!
got an ID4. For $345 i was getting ioniq 5 for 2 years /20K miles.
I got ID4 for $371 for 3 years 36K miles + Lease wear & tear coverage (worth $1050) covers upto 10K worth of damage during lease return.
So total $25 more I get car for 1 extra year + 6K miles + no stress of wear and tear.
I am happy 
On SEL AWD, you don’t need to use HMF. It is customer cash.
“$7,500 Retail Bonus Cash available on a Hyundai 2023 IONIQ 5 SEL AWD purchased from dealer stock between 8/1/2023 and 9/5/2023."
So they can claim that for every SEL AWD being sold. Leasing it through US bank is where the bank passes on some benefits. I spoke to one dealer who confirmed this and was surprised that I knew.
You will be very happy with the ID4 I love ours…
Where were you getting this?
Anyone have recommendations for a One-Pay dealer in Socal? Having no luck getting a deal with any of the one’s I have contacted
Dublin Hyundai
What was the down payment? Dublin hyundai is uncompetitive.
San Leandro is better but right now, the inventory is so low again
They do add ons iirc.
In have a written quote at 520
For limited rwd?
This post got me looking at ID.4’s, in my area (Denver metro), there’s at least 2 to 3 times as many ID.4’s as any other VW model, seems like a bit of a boat anchor, some dealers have a ton and showing discounts of $3500+ across the board. I’d expect more incentives to start popping up, they aren’t popular here.