Dave Walters, a resident of Orange County, California, has recently leased a Hyundai Ioniq 5 electric vehicle. He was tired of high gas prices and was attracted by federal tax credits, which led him to choose an all-electric vehicle for his next purchase. Initially, he considered buying a used model, but he discovered that leasing the vehicle would allow him to take advantage of a key loophole under the Inflation Reduction Act.
Since the Ioniq is produced in South Korea and Indonesia, purchasing a used model would not qualify him for a $7,500 federal tax credit. However, leasing the vehicle would. “I ran the numbers – what it would be without the leasing credit and with the leasing credit – and that kind of put me over the top and that was the main thing of why I went in that direction,” he said. “It was a few hundred dollars less a month.”
Hyundai Motor and other automakers are now targeting consumers like Walters for EV leases…
2023-05-13 07:00:01
Article from www.cnbc.com