Reply to First Car - New Driver - EV Lease vs Finance

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I just leased an IQ.4 for the same reasons. I've never leased before and have always been a proponent of paying cash for cars, but in the case of an EV, we felt it makes sense, given the expected advances in technology and the $7,500 rebate for leasing an EV. With a 3-year lease, we have free charging covered for the duration and it is under warranty the entire time. In 3 years, we will assess and decide whether to upgrade to a newer EV or move to hybrid or back to gas. I honestly don't think buying an EV is that prudent--EVs depreciate more than any other type of car. BTW, I'm loving the IQ.4 so far.[/quote]

Does that rebate depend on the customer's income tax bracket?

Also, what was the cap cost reduction upfront?

And what did it cost to get a charging station in your house?[/quote]

The $7,500 rebate for leasing has no income requirement, but there is a $300,000 limit if you purchase an EV. Capital cost reduction was $13,000. I'm pretty sure we got a good deal. We have not gotten the charger installed, but it will probably be around $700, but there are some discounts and rebates to be had. I also believe we will get a $3,000 tax credit from Maryland: https://410energy.com/maryland-electric-vehicle-tax-credits/[/quote]

To clarify, the 13000 cap cost reduction, is this the amount of the down payment (I guess) you put down on the lease?

Not familiar with lease terms or even leasing in general but that seems a little high (if down-payment). [/quote]

We put a few thousand down, but the majority of that amount is the rebate and dealer incentives.[/quote]

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