PHEVs will be capped at $4k (anything with a battery smaller than 40 kwh), at least with the current proposal…
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Hopefully they take their sweet time passing it until after my 4xe shows up
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Price caps will be the other hurdle, the way the House proposal is $55k limit for sedans and $69k for SUVs. Senate plan is more forgiving, capping it at $80k regardless of body style…
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XLT Lightnings rumored to be low $50s?
going to laugh if this back and forth goes on for another year, nothing gets passed, and then they lose both houses of congress for their ineptitude.
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It looks like it survived the Manchin/Sinema cuts so that’s the largest hurdle for reconciliation this year.
+$25K mARk3th AdjUStMenTh
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if they were serious about it, they’d make it mandatory to pass the FULL credit to the lessee & require minimum lease term or refund to avoid the flipping the EV for profit.
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There has been some talk about no longer allowing the backdoor for leasing at all.
Senator Chuck Grassley introduced an amendment (p. 48) with additional measures to deal with fraud. The seller must report the following information to the IRS: (1) the purchaser’s name and Taxpayer Identification Number (TIN, usually social security number). (2) The VIN of the electric vehicle. (3) Verification that the car was purchased, not leased. (4) Verification that the car is new, not used. (5) The battery capacity of the vehicle. (6) A summary of the maximum credit the purchaser is eligible to claim.
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speaking to a couple of Tesla reps - they mentioned that a lot of people are thinking / already asking about doing this which may end up creating a massive backlog / mess-up with their deliveries and push deliveries until March - I was talking December estimate for a M3 LR.
There may be some semantics at play there and they’re trying to prevent a lessee from claiming the tax credit (which they currently can’t do). The bank would be purchasing the vehicle, not leasing it, so they may be able to claim it still. Without seeing the actual details, I wouldn’t read too much into that.
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I wouldn’t read too much in to it because there are 50 people whose opinion matter and Grassley isn’t one of those 50.
What you would want is let the lessee claim the tax credit just like purchasers do (not sure if that’s what you are saying) and completely remove finance arm from equation. Telling banks to pass it on just means they raise the MF and purchase price (with additional incentives for people who finance to offset price increase) while they pocket the government incentives.
I’m probably more pro EV/clean air than most here but all the ways to incentivice EVs stink. They either end up being a handout to auto dealers, manufacturers or the rich, and usually a combination of all three.
One could come up with better systems but they are mostly bureaucratically untenable/ripe for fraud.
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Either that or just make it a point of sale rebate like some of the state ones. Of course, then you run into some dealers potentially “hiding” it in a marked up sales price.
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Yeah, that’s definitely most effective for low and middle income buyers but also a huge giveaway to car dealerships. Especially now with so many cars having “market adjustments”, it would just be a windfall for them.
So however effective that way may be it’s the hardest for me to stomach.
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I’m in the camp of funding DCFC facilities and possibly providing down payment assistance for low income EV buyers in form of a voucher that’s provided at point of sale.
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Right. We (in VA, MD, etc.) pay sales tax on the full selling price when leasing, so why not to pass the full EV credit on the lease as well? 
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True.
I think there’s also the issue if invome limits so it will complicate things further.
I am praying that it’s the 80k cap. The Tesla M3P comes in at just under 60k which would screw me if the House limit passes 
I think that if you made it into a down payment assistance system — perhaps even as a tax abatement on purchase like NJ rather than a rebate on the back end but at point of sale it could reduce the temptation for dealers to participate in such practices or at least help educate consumers on what to look for.
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I’m just not sure how the proposed income limits come into play as current credits don’t have that (at least for the lease transaction)
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