Tesla Model 3 May Get Full US EV Tax Credit Via Loophole via insideevs.com
We've already learned that the cheapest Model 3, the single-motor rear-wheel-drive"Standard Range" version, doesn't qualify for the whole credit. In fact,. However, if you're okay with leasing it, you may be able to get the full $7,500, and you won't have to wait until tax time to see the benefit.
A loophole in the rules makes it so that some forms of leasing aren't hindered by all of the strict rules. If you buy a new base Model 3, you'll pay at least $39,990 plus taxes and fees. This option would make the car eligible for a tax credit of $3,750, but, based on your individual tax situation, you may or may not be able to get the credit. If you get a credit, it won't come until you file your taxes, so you have to pay in full at the time of purchase.
Leasing a new base Model 3 allows the leasing company to get the full $7,500 credit, which it can then apply to the lease to benefit the customer. 's website currently shows that leasing the cheapest Model 3 is estimated at $419 per month with $4,500 down. However, it also shows that with potential incentives, the payment would be more like $350.Keep in mind, Tesla doesn't allow lessees to keep their Model 3 after the lease expires, so you'll have to return it. Sure, the tax credit loophole may bring your payment down, which could get you into an electric car and help your monthly budget.
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