How does the tax credit work with a lease?

How does the tax credit work with a lease?

Apologies if this has already been covered, but how does the $7,500 US tax credit work if you lease the car? I'm a day 1 West Coast reservation holder with more than $7,500 annual tax liability, so I'm optimistic I will be eligible. But what if I decide to lease? How does that work? Does the leasing company get the credit and I get a lower payment? Or do I still get a lump $7,500 credit? Or do I get nothing at all?

bwb1 | March 12, 2017

Lease company gets the credit and you get reduced monthly payments based on it being applied as a Cap Cost reduction.

Coastal Cruiser. | March 12, 2017

But be advised it varies as to how much of the $7500 the leasing company is channeling back to you. They're under no obligation to give you a penny... or all of it. You have to pay attention, and possibly be prepared to negotiate.