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Reply to "Lease buyout loophole to get $7500 credit for EV if income is too high - anyone done this?"
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[quote=Anonymous]Our income is too high (>$300k) to qualify for the $7500 EV credit. I've read online that to work around the limit you can lease the car, receive a discount for the credit, then buy out the lease soon after. The fees for leasing and the buyout eat up some of the benefit buy you still come out way ahead (saving $6k for a Tesla by my calculations). Has anyone done this successfully? I am considering going through this process before the EV credit expires on 9/30. (Not sure if it works for all EVs but it seems to work for Tesla and Hyundai)[/quote]
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