Yes, you can negotiate lease terms to potentially benefit from the tax credit, although the process involves the lessor rather than the lessee directly receiving the credit. Here’s how it works:
- Lessor Receives the Tax Credit: When leasing a clean vehicle, the lessor (the company that holds the vehicle title) is eligible to claim the federal tax credit, such as the Commercial Clean Vehicle Tax Credit. This credit can be substantial, up to $7,500 for certain vehicles.
- Negotiation and Incentives: You can ask the lessor if they are willing to pass on the tax credit savings to you by reducing your deposit or monthly lease payments. This is negotiable, as leases are flexible and subject to competition among dealerships.
- Considerations During Negotiation:
- Gross Capitalized Cost: This is the vehicle’s sale price, which affects your monthly payments and buyout price. Negotiating this can help reduce your overall costs.
- Buyout Price: If you think you might buy the vehicle at the end of the lease, negotiate the buyout price upfront.
- Pre-Negotiated Deals: Some pre-negotiated leases might include incentives related to the tax credit, but it’s essential to confirm this with the dealership.
- Lease Buyout Offers: In some cases, lease buyouts can provide an opportunity to negotiate based on the remaining balance of the lease and any applicable incentives like the tax credit.
In summary, while you don’t directly receive the tax credit when leasing, you can negotiate with the lessor to potentially benefit from it through reduced lease costs.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-i-negotiate-the-lease-terms-to-get-a-better-deal-on-the-tax-credit/
