Yes I did deduct loaner miles and unfortunately I’m still almost 3k over already. Lesson learned.
The bank gets the federal tax credit for the PHEV but can choose to pass along none/some/all of it to you. So, for cars where the credit is pass on to you in a lease but where it might be more advantageous from a total-cost-of-ownership perspective to purchase, you lease the car and then buy it out immediately (or, I guess, buy it out once the deal funds?).
It’s discussed pretty frequently here.
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Yes I know I’m screwed here. Just trying to figure out what is the least awful option. It’s sounding like keeping it and driving it as little as possible is the best of the worst for now. I definitely don’t want higher monthly payments.
Oh thank you for that explanation. Might be a little over my head at the moment but I’m going to look into it.
Can you post the buyout document without your personal info?
It changes. Keep checking Signed Deals & Tips
The best sentence you wrote.
Don’t worry so much about paying mileage overage as if you would have got a higher mileage lease initially you would have paid for those miles too with a lower RV/higher payment…so, you would have had to pay for the mileage one way or another.
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