Leasing companies do not always pass on the tax credit savings to lessees. When you lease an electric vehicle, the federal tax credit belongs to the lessor (the leasing company), not the lessee (you). While some leasing companies may choose to pass the tax credit savings on to customers in the form of reduced monthly payments or a one-time rebate, others might not.
How It Works:
- Eligibility: The tax credit for leased vehicles is available without the same income limits or sourcing requirements as purchasing, making more vehicles eligible.
- Passing on Savings: If a dealer decides to pass on the savings, it might be reflected as a lower lease price or reduced monthly payments.
Key Considerations:
- Voluntary Basis: The decision to pass on the savings is at the discretion of the leasing company.
- Marketing Terms: Some companies explicitly mention the tax credit as part of their lease offers, while others might refer to it more indirectly.
Thus, while there is a potential for significant savings if the leasing company chooses to pass on the tax credit, it is not guaranteed.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-leasing-companies-always-pass-on-the-tax-credit-savings-to-lessees/
