To find out if your EV lease includes the tax credit, follow these steps:
- Contact Your Dealer: The most straightforward way to verify if the tax credit is included in your lease is by contacting the dealership or the lease provider. They can inform you whether they are passing the credit to you and how it is applied—e.g., as a down payment or reduced monthly payments.
- Check the Lease Agreement: Review your lease agreement for any mention of the federal tax credit or how savings from it will be applied. Some agreements may specify how the credit benefits the lessee.
- Manufacturer’s Policy: Check with the manufacturer of the vehicle to see if they have a policy of passing the tax credit to consumers through leasing. This information might be available on their website or through customer service.
- Negotiate: If the dealer or manufacturer is passing the tax credit through leases, you may need to negotiate to ensure you receive the full benefit. It’s essential to confirm this before signing the lease.
Remember, the tax credit belongs to the lessor (typically an affiliate of the manufacturer), so any savings you receive would be in the form of a rebate or lower lease payments.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-i-find-out-if-my-ev-lease-includes-the-tax-credit/
