I just purchased a new model S. Am I entitled to the federal tax credit when I lease through Tesla via US Bank? I ask because I was told it was factored in but could not find it on the paperwork anywhere.
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That is correct.Ok so please help me through this as I am not a math wiz. In general numbers, if I paid 106,000 and my buyback is 64,000 (61% residual value), it would have been worth 57,000 (54% residual value) so during my lease payments I am using the higher residual value which makes for a lower monthly payment?
Hypothetically I would say yes. Assuming you are within the mileage range, normal wear and tear, etc.So hypothetically if I want to buy a cpo in 3 years, I would only need to pay 57,000 for an equivalent s90d based on the formula we are speaking about above (54% residual value)?
Very esoteric IMHO. there is no way to know since these beautiful "time machines" have no cpo history. I just want to make sure I was getting my tax credit one way or the other.Hypothetically I would say yes. Assuming you are within the mileage range, normal wear and tear, etc.
when i leased my nissan leaf, i was entitled to the tax credit.... Im really not sure how you are not entitled to it... the tax credit is for the first person to register the car.... tesla gets their own tax credit for the car... i would dig further... the tax code does state it is for purchased and leased vehicles.
and depending on the state, you are entitled to a state tax credit as well... and some even allow a tax credit for the purchase and installation of the chargeing equipment
when i leased my nissan leaf, i was entitled to the tax credit.... Im really not sure how you are not entitled to it... the tax credit is for the first person to register the car.... tesla gets their own tax credit for the car... i would dig further... the tax code does state it is for purchased and leased vehicles.
and depending on the state, you are entitled to a state tax credit as well... and some even allow a tax credit for the purchase and installation of the chargeing equipment
Please clarify. Based on a previous post, it mentioned it will be added to my residual value at the end of the lease. If this is not the case and the leasing company said it was "factored in, would that in fact be a misrepresentation?Well, I hope you are not audited. You are NOT entitled to the Federal Tax Credit when you lease an EV. State credits are a different thing.
Please clarify. Based on a previous post, it mentioned it will be added to my residual value at the end of the lease. If this is not the case and the leasing company said it was "factored in, would that in fact be a misrepresentation?
It would be a lot cleaner -- and ethical -- if in the leasing agreement the $7500 was taken off the top as a capital cost reduction to the sale price of the car. Then, the residual would be more reflective of what the actual value of the car may be in 3 years. And, it would be clear to the buyer... When they don't do this for leases, the $7500 has become profit for the dealers (Tesla excluded)... The dealers are not giving that $7500 to the bank/leasing company, you can bet on that.
I agree 100%. This practice artificially inflates the residual value beyond the expected market value which makes no sense to me. If one wanted to purchase the car at the end of the lease, it's a penalty.
Well stated. When leasing none of this was explained to me.I agree 100%. This practice artificially inflates the residual value beyond the expected market value which makes no sense to me. If one wanted to purchase the car at the end of the lease, it's a penalty.