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posted Jun 1, 2019 12:47:44 PM

Do I qualify for the federal plug-in electric vehicle (PEV) credit if I leased a new PEV, or only if I purchased the vehicle?

I leased a new PEV that's listed as a qualified vehicle.  I would like to know if I'm eligible for the tax credit, or is it only available to purchases.

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Level 15
Jun 1, 2019 12:47:46 PM

You are not eligible for the credit because the leasing company gets the credit. You should have received a more favorable lease rate as a result of the lower cost of the vehicle to the leasing company from them getting the credit. 

See this Autotrader article: https://www.autotrader.com/car-news/plug-hybrid-buyers-should-consider-leasing-193327