Yahoo Autos Leasing is the best, most affordable way to get a quality new EV — here's why
When EV manufacturers dropped prices last year — led by Tesla and then Ford — you may have assumed that the lower sticker prices signaled a good time to buy instead of lease an electric vehicle.
But the truth is that the safest bet in the ever-growing EV world is still to lease.
Why? Because federal tax credits of $7,500 can apply to all leased EVs — you just have to check and be sure that the leasing company is passing the full value to you and not holding any back.
According to Consumer Reports' Chris Harto, "A lease is considered a commercial sale to the leasing company and is eligible for a separate commercial vehicle tax credit that has fewer restrictions than the consumer tax credit."
If you buy an EV, more stringent rules may apply and affect your credit, including the sticker price of the car (for example, if it's too expensive to qualify), where the vehicle is manufactured, where the battery materials and components are from, and your own household income.
And now, with EV sales having slowed in the U.S. (even though year-over-year, EV sales increased by 50% last year), there's more inventory on dealer lots than ever before, and more new models are arriving this year. That gives you an advantage because dealers don't want vehicles parked and aging on their lots, so they are incentivized to pass on the tax credit. If they're not, you can always go elsewhere.
