[Article] No Tax Credit For An EV? Try Leasing.

I just stumbled upon this interesting article about EVs and tax credits. It seems like automakers such as Hyundai Motor Group, with their Hyundai and Kia brand EVs, are facing a challenge.

Captain Blight said:

.........That will be a boon to automakers such as Hyundai Motor Group, whose Hyundai and Kia brand EVs (the Hyundai Ioniq 5, Kona Electric and Kia EV6 and Niro EV crossovers, as well as the Niro PHEV and Hyundai Tucson and Santa Fe plug-in hybrids), are built in South Korea and aren’t tax credit eligible for those who prefer buying over leasing.

No Tax Credit For An EV? Try Leasing.

Leasing an electric car can circumvent the restrictive North American assembly requirement to receive the federal tax credit for EVs.

www.forbes.com

Click to expand...

It does not require leasing companies to hand over their credit to the customer, only allows them to.

All of this is moot. This window closed when the government published the final standards for EV/PHEV credits. Joe Manchin still has his performative panties in a wad over the deals that slipped through.

As far as I know, These South Korea-built models, like the Hyundai Ioniq 5, Kona Electric, Kia EV6, Niro EV crossovers, and the Niro PHEV, as well as the Hyundai Tucson and Santa Fe plug-in hybrids, aren't eligible for tax credits if you prefer buying over leasing. It's a bit disappointing for those who were hoping for some financial incentives. However, there's a silver lining - leasing! Opting for a lease could still provide you with the opportunity to enjoy the benefits of these EVs without missing out on potential tax credits. By the way, I recently discovered a Mortgage Broker in Ferriby who offers assistance with mortgages and loans. Thought it might be worth mentioning.