WHY IT’S SMART TO LEASE AN EV

ACCORDING TO THE data analytics company Experian, 30.7 percent of EV drivers chose a lease in 2023, up from just 9.8 percent in 2022. It’s easy to see why. Lessees can qualify for a federal tax credit of up to $7,500 without meeting restrictive requirements on where an EV or PHEV was made, how much it cost, or the lessee’s income—all of which apply to purchases. Some automakers also discount leases on EVs and PHEVs to help sell vehicles that meet emissions rules. Leasing an EV makes sense for other reasons, too, says Jake Fisher, CR’s senior director of auto testing. “Prices and rebates on EVs have been fluctuating quite widely, making resale values impossible to predict,” he says. For example, both Ford and Tesla have recently cut the prices…

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Consumer Reports New Cars (Digital) - 1 Issue, December 2024

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