Everyone. It is 522. More and more electric cars are
on the road,
in part because there are thousands of dollars in incentives
to help reduce the cost.
Cashing in on those incentives can be tricky if your
car buyers.
So what about leasing today's problem solver Pete Anderson looks
at why Consumer Reports says leasing an EV might be
an easier,
better deal right now.
Want to buy an EV?
How does a $7500 tax credit sound?
There are just a few rules.
The vehicle has to be assembled in North America,
Its battery components and minerals must meet specific sourcing requirements,
and the car has to cost under a certain amount,
and your income can't be over another amount.
You'll only get that money back after your taxes.
If you're set on buying a car and you know
you qualify,
you've talked to a tax professional,
you know the car is going to qualify.
Go ahead and do that.
It's going to get a little easier next year as
dealerships are going to be able to process the the,
the credit and give the credit at the point of
sale,
which makes it simpler. But it is really,
really complex right now. But if you're eager to drive
an EV now,
CR says Elise may get you on the road faster.
The long and short of it is that all those
rules go out the window.
If you lease a vehicle no matter where the car
was made,
how much it costs, you can get that full $7500
off the total price of the vehicle and then the
leasing.
Company processes that credit up front,
which lowers your monthly payments.
The usual leasing rules apply along with the down payment.
You'll make monthly payments for a set number of months
and for a set number of miles,
and at the end of the lease you return the
car to the leasing company.
Those rules can deter some traditional car buyers,
but in the case of an EV,
they might work to your advantage.
Electric vehicle technology is changing really,
really rapidly. There are new cars coming in.
The market range is getting longer.
For battery powered vehicles. So the car that you buy
today might end up being outdated in a few years,
and and leasing can help you avoid getting stuck with
yesterday's technology.
And as automakers continue to lower the price of electric
vehicles trying to attract more buyers,
you won't take the hit if your leased vehicle is
suddenly worth less.
And while no one has a crystal ball to see
the future,
if demand for used EV's is still high at the
end of the lease,
it may make sense to purchase the car for the
buyout value.
That's written into the lease contract,
and did you know you can negotiate the cost of
a lease?
Consumer Report says it's important to remember that local car
dealers are competing with each other for business,
so it never hurts to ask them to waive dealer
fees and other markups.
Pete Canuteson, 2 News, Oklahoma Problem Solvers.
Alright, Pete, thank you.