“Navigating what to buy and how to buy it is literally my day job, and this is so bloody complicated,” says Weaver, who’s editor-in-chief of automotive researcher Edmunds.com Inc. “EVs are just expensive—that’s the fundamental challenge—and I don’t want to pay through the nose.”
Source: EV Tax Credit Loophole Means Leasing Can Save You $7,500 – Bloomberg
Only a few EVs qualify for a tax break if purchased outright. But in a paradox, all EVs qualify for the top tax break if they are leased instead of purchased. The result is that the majority of new EVs are likely to be leased, rather than bought.
Most people borrow money to purchase a car – the result is they view a car purchase as a monthly payment. Under the new rules, it may be more tax efficient to make a monthly lease payment than a monthly debt payment.
We are gradually moving from an ownership society to a pay by the month society where you own nothing.
