with participating dealers ONLY
Can confirm the $9000 WA State incentive can be stacked with the $7500 Federal incentive for leases. WA State also waives sales tax for EVs under $45,000.
Our newly graduated daughter qualified for income eligibility and I co-signed (allowed by the program). Traded in a seriously old (but fun) Audi and applied the $2000 as cash.
2024 ID.4 Standard
36-months/10k miles/$60.58 monthly is right in line with her budget.
The dealer (VW Bellingham) is basically sold out of EVs but more on the way they say.
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Thanks for the update.
If you co-sign do they factor in co-signerās income for ālow incomeā qualification?
The co-signerās income is not considered according to the program website. Thereās not an actual validation of eligibility, just a statement the leasee signs. As I understand it, WA state will audit a certain percentage of applicants to confirm eligibility.
https://waevinstantrebates.org/eligibility/
Yes, as long as the customer on the lease or purchase agreement qualifies for the program you may have a co-signer. The co-signer does not need to qualify for the program and may be a business.
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This is awesome! What was total down? Was $2k towards cap reduction or it also covered the fees?
once signed up can the lease be transferred?
And I would have thought we would see a flood from CO with their lease incentives but I dont see that flood.
Used the $2k trade towards cap reduction. Fees were minimal due to WA State sales tax exemption for Evs ($445 license/registration/doc fee) so paid these directly.
At least for VW Leasing, the lease is not direclty transferrable. I suppose you could always ask VW. Not sure what the implications for the WA State lease incentive program would be if it were transferred to a non-eligible individual though.
so a high school/college kid from a household can get the lease under their name and qualify?
Probably not. You can find the full eligibility requirements on the program website (Am I Eligible? ā Washington Electric Vehicle Instant Rebates) but for our daughter it worked because:
- Not claimed as a dependent
- Does not live with us
- Income is below the threshold (300% of the current federal poverty level)
For sure the program is aimed at a specific set of people and it does appear to be successful at getting them into EVs with low-payments.
New here and wanted to post that Iām trying to work the WA rebate currently. Iām in talks with a couple of dealerships to see how they will integrate the WA Rebate with current lease offerings. One dealership has 19 EVās on their lot and it makes me feel they are motivated to move them. Iāll report back in a separate dedicated post of my journey.
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The way I read the program eligibility (Iām in no way a tax/legal expert), the main thing to qualify is your household income must be below the income thresholds.
Example 1: College kid, lives at home, is counted as a dependent by parents on taxes, but the household income is above the threshold, do not qualify.
Example 2: College kid, lives at home, is counted as a dependent by parents on taxes, but household income is below the threshold, they qualify.
Example 3: College kid, lives at home, is NOT counted as a dependent by parents (does their own taxes separate from parents and is thus counted as a separate household from parents), and they are below the income thresholds, they would qualify.
Co-signers, who could be parents or even another business, do not have to qualify for the program.
Just Signed a 1 pay lease for a Kia EV6 Light Long Range AWD, unique circumstances allowed me to do a 1 pay when they normally donāt. For a 36m/10k lease total payment was $4258.88, $0 DAS.
Break down:
cap cost reduction 0
sales tax on cap cost 0
first month 0
single payment 25058.88
deposit 0
acq fee 0
ttl 0
doc fee 200
total 25258.88
trade in 0
rebates 21000
paid in cash 4258.88
value of vehicle 49493.00
license title reg 247.25
acq fee 650.00
gross cap cost 50390.25
what are rules of transferring a lease?
Also saw a link that you can get a model y for ~$207/month no down. Anyone able to get that?
Not sure about transferring a lease under the WA EV rebate. That may not be possible but I dont know how that is tracked either. The issue with Tesla is thereās limited info that I can find. So it may be best to try and talk to one of the Tesla Advisors directly. From the Wa EV website, Tesla Model 3, X and Yās qualify for both the Federal and the WA EV rebate.
You might get better responses by posting this separately but from a glance this looks like a pretty good deal.
I think that article was either incorrect or has outdated info. You can go to the Tesla site and check the cheapest Model Y lease with 36 months/10k year. With a down payment of $8733 (the maximum they let you enter) the estimated payment if $310/month. Considering $8733 is only $267 less than the $9000 WA will contribute to the lease there is no way you can reach $207/month.
Saw someone on Reddit get a lease deal for a ~$53k Ioniq 5 for $235 a month on lease in WA with this program. I actually think on $45k a year thatās not unreasonable. It comes with two years of free EA charging although I think electricity is already pretty cheap in WA.
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When looking at the webist its ~499/month for the long range for 3 yrs 10k miles. so with 9k off POS it should rough out to 250/ month. after the 3k DAS.