Anybody get the fed tax credit amount deducted from their lease payment amount?

Anybody get the fed tax credit amount deducted from their lease payment amount?

As I understand it, if you buy a new Tesla, you qualify for the federal tax credit, which as of last June would have been $3750. But since I leased my Model 3, it was my understanding that Tesla got the credit, and was then supposed to deduct it from the price of the car, giving me a somewhat lower lease payment. Now that it's tax season, I just began looking for evidence that I got some of that $3750 benefit, but I can't find any sign of it in my lease contract. Has any other leaser run into this? Were you expecting some benefit from the federal tax credit? Did you get it? Or does Tesla not pass this on?

M-A-B-MCMLXXX | 2020年2月17日

If you got it, it would be baked into the price you paid. I doubt you’ll see a line item.

lbowroom | 2020年2月17日

The time to ask that question is before you sign the lease contract. Auto manufacturers are not required to pass any federal rebates to the customer whether they get them or not.

EVRider | 2020年2月18日

When I leased my first Model S, the $7,500 credit was not shown anywhere on the lease contract, but the residual value was inflated to offset the credit. For most people who leased a Model S/X back when they were eligible for the full credit, it’s cheaper to buy a comparable used Tesla than to buy out their leased Tesla.

brian4 | 2020年2月18日

Thanks, all. Unfortunately, if they applied the credit to the residual value, that wouldn't help Model 3 leasers at all, since we have no buyout option at the end of the lease (at least so far). Tesla maintains they simply want the car back at the end of the lease, presumably for their autonomous taxi fleet(?).

bradbomb | 2020年2月18日

@brian4 Was that understanding given to you by Tesla or did you assume? When I was looking to get my Model 3(albeit before the leasing program existed), I remember specifically reading that if you lease the vehicle you were not entitled to the Federal Tax Credit. I also don't remember reading anything that Tesla (or the leasing company Tesla was using) was factoring in the credit into the monthly payments.

bradbomb | 2020年2月18日

This was Tesla's leasing page back in April 2019

It doesn't list Model 3 specific terms, but it does say this:

"Price indicated does not include taxes and registration fees unless stated otherwise. You will be responsible for these additional taxes and fees. The payment calculations are provided for informational purposes only and may reflect assumptions that may not apply to you or lease terms for which you may not qualify. Tesla vehicles qualify for a federal tax credit up to $3,750 which is already included in the payment calculations."

Bighorn | 2020年2月18日

Applying the tax credit to the residual value lowers monthly payments commensurately. That’s what they did.

kim | 2020年2月18日

Lessors do not get the federal tax credit, because they do not own the vehicle. Tesla owns the vehicle, so Tesla gets the federal tax credit.

lbowroom | 2020年2月18日

Yes Kim. Then Tesla can choose to keep that money, or adjust the deal by raising the residual (which shrinks the payment)