Used, Leased EVs to Qualify for US Tax Credits
Jan 19, 2023
The United States Department of Treasury gave electric vehicle buyers and international automakers a new year’s gift by expanding the number of electric vehicles (EVs) and plug-in hybrids (PHEVs) that qualify for a federal tax credit of about $7,500. The new guidelines include automobiles not made in North America as long as consumers lease or purchase used models instead of brand-new ones.
The decision regarding leased vehicles does not relieve the heightened limitations placed on tax incentives for people who…
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