‘Loophole’ may get you a $7,500 tax credit for leasing an EV, auto analysts say

‘Loophole’ may get you a ,500 tax credit for leasing an EV, auto analysts say

Key Points

The Inflation Reduction Act has a few provisions related to tax credits for electric vehicles.
Consumers can get a $7,500 tax credit for buying a new EV. It may be challenging for cars and/or buyers to qualify due to certain requirements.
It may be easier to get a $7,500 credit by leasing an EV. Leases aren’t subject to the same rules.
Automakers may pass along the tax credit by lowering monthly payments.

Source

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