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Is the federal tax credit applied to any part of a Prime lease?

Discussion in 'Prime Main Forum (2017-2022)' started by CalMark, Dec 8, 2018.

  1. CalMark

    CalMark Junior Member

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    How does Toyota Financial Services apply the $4502 federal tax credit to a lease, if at all? Is it added to the residual value (as Tesla does), is it applied to the cap cost reduction (as BMW and Volvo do), or does Toyota keep all of it for itself?
     
    #1 CalMark, Dec 8, 2018
  2. Blue-Adept

    Blue-Adept Active Member

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    Not generaly as the owner not the leasee gets the tax credit. You don't own the car so the credit goes to the leasing company.

    Steve
     
    #2 Blue-Adept, Dec 8, 2018
  3. triggerhappy007

    triggerhappy007 Active Member

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    Steve, it doesn't seem like you fully understood the OP's question.

    The answer seems to be Toyota Financial keeps the tax credit for itself and doesn't take the $4502 off the price of the lease. Almost all other EV or PHEV leases, the manufacturer will take the EV tax credit into account when pricing the lease. The only discount lease I see for the Prime is this dealer in CT:
    Lease Specials in Hartford | Hartford Toyota Superstore
    They take $2500 off, not the full $4502.

    The national lease deal is for the Plus at $369/mo for 36 months and $1999 down. That's just horrible. It's probably cheaper for you to buy a Prime for $7000 off MSRP from the east coast and then get $4502 back in taxes and sell it in 3 years. Check the prices paid forum to see a list of dealers offering big discounts (user reddie).

    For a list of lease deals, check out this blog:
    Charge!!!: Current Lease Offers for Selected EVs
    Amazing deal on the Volt.
     
    #3 triggerhappy007, Dec 8, 2018
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