Is there a tax credit for leasing an electric car?

I know of the tax credit available when you buy an EV, but I’ve always leased my vehicles and don’t intend to stop. Is there a tax credit for leasing an electric car?

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Answer provided by
Chanice Boyd
Answered on Aug 03, 2022
The short answer is yes. A credit is available for leased electric cars, but the tax credit goes to the manufacturer, not you.
To receive the credit, the automaker will factor the credit into the cost of the lease, and you’ll see the difference on your monthly payment. However, the tax credit isn’t mandatory, so it might benefit you to do your research and alert the manufacturer.
The tax credits are directly influenced by the vehicle’s battery size. If qualified, most electric cars will receive $7,500, but some models will fall below the maximum credit.
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