Electric Vehicle Forums - Tax Credits (Lease -vs- Buy)

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kcrossley

07-14-2006 07:12 PM

Tax Credits (Lease -vs- Buy)

If you lease a hybrid instead of purchasing one, who gets the tax credit?

bigbearballs

07-14-2006 08:14 PM

Re: Tax Credits (Lease -vs- Buy)

Bush.

birchman2

07-16-2006 07:19 PM

Re: Tax Credits (Lease -vs- Buy)

Quote:

Originally Posted by kcrossley

If you lease a hybrid instead of purchasing one, who gets the tax credit?

No one my understanding is the credit applies to personal use only. And it needs to be a purchase.

ElanC

07-16-2006 11:35 PM

Re: Tax Credits (Lease -vs- Buy)

Quote:

Originally Posted by kcrossley

If you lease a hybrid instead of purchasing one, who gets the tax credit?

The IRS web site at - http://www.irs.gov/newsroom/article/...157632,00.html
says "The credit is only available to the original purchaser of a new, qualifying vehicle. If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit."

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