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$7,500 Federal EV Tax Credit

22K views 19 replies 13 participants last post by  Aanik Adatia 
#1 ·
The Jeep Wrangler 4xe qualifies for the $7,500 federal electric vehicle tax credit, according to the IRS website. State credits up to $3,500 should also be available.
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#3 ·
Just be careful and make sure you know how you're getting the rebate. Before ordering the 4xe I specifically asked if the fed rebate was something I apply for on taxes next year and receive. They told me yes, but then I realized after signing the lease that it was already subtracted from the lease. So I put down some money (something I never do on leases), thinking I'd get it back next year. Doh, my fault for being so excited about picking up the 4xe that i forgot to check
 
#4 ·
Our dealer was great, right up front they said, yes, the rebate will be applied as a cap reduction, basically the bank is taking it, so our personal tax situation wasn't even part of the discussion.

You're right on about putting money down on a lease, we usually do $0, but with the MF on Wranglers being so high, it was advantageous to put a few extra bucks, save several hundred dollars.
 
#5 ·
Yeah, I've wanted a wrangler my whole life so it's not the end of the world. Been leasing cherokees until the time was right, and this 4xe is worth it so far.

The dealers make those leases so confusing on purpose so you can't make any sense of what your signing haha. I noticed the rent charge is like 10x higher then it was on my cherokees because the depreciation is so low on wranglers
 
#10 ·
Is it possible to start with a lease (no experience with a lease) and then, say a month later buy it outright? So, say I negotitate the OTD price with the $7500 credit, I receive it in the form of lower lease price, but want to buy the car outright for that price ($cash) is that possible?
 
#12 ·
Its my understanding that you always have the ability to buy back the car at any point. But be careful, I think they usually structure the leases so it's not a good deal to buy out of the lease early on.

Someone else with more knowledge might have some better information.
 
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