Any insight and tips on leasing a 2025 Genesis electrified GV70 - 36/12? Not finding much movement on dealer incentives or locating RV on texas
If you join as a Super Supporter, I assume that info should be available in the Ratefindr.
Otherwise, you can ask on the pertinent Edmunds lease forum for free.
Thanks. I used RateFindr. No mention of a federal tax credit
You don’t get a federal tax credit on a lease.
You get the incentives given, which on the 25 gv70 is something like $10500 lease cash.
No, not really. Read more here. https://www.consumerreports.org/cars/what-to-know-about-leasing-an-ev-or-phev-with-tax-credit-a3007689035/
Good write up on lease basics, but no useful information on the details of how to negotiate a good lease deal. By searching Marketplace I was able to find a broker out of CA offering total discounts of up to $19,500 on the Advance trim. That may not be fully repeatable in TX, but gives you an idea of what you should be looking for in total discount and rebates.
Not sure how that contradicts what’s being said here.
Genesis is passing on tax credits plus money of their own for a single line item rebate
That article is an over-simplified description of what happens on a lease.
On a lease, the lessor (the bank that owns the vehicle) claims a tax credit under section 45W of the Inflation Reduction Act by purchasing the vehicle for commercial use.
They then choose to do whatever they want with their tax credit. That may be passing on an incentive, that may be inflating the residual value, that may be subventing the money factor.
You get the incentives offered by the bank. They might call their incentive the “federal ev credit”, but it is an incentive from the bank you’re getting. The incentives given are all you get. There is no separate tax credit.
The article is actually accurate enough and doesn’t support what @Genesisshopper is claiming.
But those conditions all get thrown out the window if you lease. “A lease is considered a commercial sale to the leasing company and is eligible for a separate commercial vehicle tax credit that has fewer restrictions than the consumer tax credit,” says Chris Harto, CR’s senior energy policy analyst. That means the leasing company can get a full $7,500 tax credit for an EV, and in turn pass some or all of those savings on to you in the form of lower lease payments.
Huh? It absolutely supports what I wrote. The question raised was whether Genesis had wrapped their lease credit in their consumer discount or whether a leasee (if they were leasing the vehicle as a commerical entity) could apply for the credit. Only one entity can apply for the credit.
There is no option for the lessee to apply for the credir, regardless of what the bank does.
Commercial use for leasing applies if you purchase it and then are a lessor to someone leasing it from you, not because you’re a lessee using it for business purposes.
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