Tax Credit on Lease (not loan or cash)

1107 Views 5 Replies 5 Participants Last post by swzzle, 2 mo ago

TipperTheObsceneCat

Discussion Starter · 4 mo ago

This might change the dynamic here. Anyone have any luck on finding out whether Nissan is willing to pass through the $7500 tax credit on a lease?

A Treasury Department spokesperson told CR that most traditional leases would qualify for a $7,500 commercial credit not subject to the myriad requirements that must be met to qualify for the consumer new vehicle credit. Among those are requirements that buyers meet income restrictions, the vehicle is priced below a certain amount, and it’s made in North America. In the case of a lease, the dealer would receive the commercial credit, not the person leasing the vehicle, and it would be up to the dealer to pass those savings on to the consumer.

After Price Drop, More Teslas Qualify for the Full Electric Vehicle Tax Credit in 2023 - Consumer Reports

Consumer Reports details which new, used electric vehicles qualify for Inflation Reduction Act tax credit—including some Teslas, and EVs made in North America.

www.consumerreports.org

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EarlyEVadopter

· #2 · 4 mo ago

TipperTheObsceneCat said:
This might change the dynamic here. Anyone have any luck on finding out whether Nissan is willing to pass through the $7500 tax credit on a lease?

After Price Drop, More Teslas Qualify for the Full Electric Vehicle Tax Credit in 2023 - Consumer Reports

Consumer Reports details which new, used electric vehicles qualify for Inflation Reduction Act tax credit—including some Teslas, and EVs made in North America.

www.consumerreports.org

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I have not read that Nissan has changed their lease format since these latest guidelines by the IRS were released. IMO the current Ariya lease program is a non starter for many since there is no residual buy out provision at the end of the lease.

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TipperTheObsceneCat

Discussion Starter · #3 · 4 mo ago

EarlyEVadopter said:
I have not read that Nissan has changed their lease format since these latest guidelines by the IRS were released. IMO the current Ariya lease program is a non starter for many since there is no residual buy out provision at the end of the lease.

Weird. No residual buyout? Just bought out my Leaf.

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voxel

· #4 · 4 mo ago

TipperTheObsceneCat said:
Weird. No residual buyout? Just bought out my Leaf.

Was removed for the Leafs recently - for any leased signed in Dec 2022. Nissan Eliminates EV Lease Buyout Option

Also applies to Ariya it seems.

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dafish

· #5 · 4 mo ago

EarlyEVadopter said:
I have not read that Nissan has changed their lease format since these latest guidelines by the IRS were released. IMO the current Ariya lease program is a non starter for many since there is no residual buy out provision at the end of the lease.

Wow!

I'm not a tax guy, but lease tax code used to stipulate that for an auto lease to be deductable as a business expense (if anybody cares), it had to include a fair market value residual buyout.

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swzzle

· #6 · 2 mo ago

We were offered a $7,500 credit on a leasing offer from Nissan yesterday April 5, 2023 on a Platinum+. Required a minimum of $10,000 to get into the lease, which didn't make sense so we purchased via bank auto loan (BofA). Perhaps Nissan feeling the "heat" of an over-priced product, combined with recent tax credit (dis-) incentives?

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