EV Tax Credit Eligibility

I got this from another article with more detail on which get the $7500 vs 3500 credit:

The full list of vehicles that qualify for the $7,500 clean vehicle tax credit is:

• Cadillac Lyriq
• Chevrolet Bolt
• Chevrolet Bolt EUV
• Chevrolet Silverado EV
• Chevrolet Equinox EV
• Chrysler Pacifica PHEV
• Ford F-150 Lightning
• Lincoln Aviator Grand Touring PHEV
• Tesla Model 3 LR/Performance
• Tesla Model Y

Seven other plug-in vehicles are eligible for $3,750 of the tax credit, as they satisfy half of the domestic battery requirements. These models are:

• Ford Escape PHEV
• Ford E-Transit
• Ford Mustang Mach-E
• Jeep Wrangler 4xe
• Jeep Grand Cherokee 4xe
• Lincoln Corsair Grand Touring PHEV
• Tesla Model 3 Standard Range

@seancallahan Lease, basically you just lease the EV, then you can claim the $7500 tax credit, and with lease you don't need to fulfill the mineral and assembly parts of the requirements like purchase for the credit.  But there is another another loophole in which if you buy a used EV(no need for fulfill the mineral/assembly parts of the requirements) that is older than 2 years and under $25k, you can claim another $4000 max(up to 30% of the purchase price) EV tax credit.  So, basically you can:

So, lets just say Fisker for example..

1) Lease the EV out to the customer for 2 years, with high monthly payment of course, to bring the car down to under 25k outstanding after 2 yrs

  - Lessee gets to claim the $7500 tax credit on the initial lease...

2) Two years later, the lessee buys a used EV for under 25k(say $24,999)

  - Purchaser of the used EV gets to claim a $4000 EV tax credit.

lol, yup...  major loopholes, you will a lot of new EV leases and used EV purchases(under $25000) in the coming years until 2032. 

@fibrepunk Thank you for sharing. It's totally bizarre, maybe even illogical, there are loop holes that skirt around the battery requirements. Seems like the legislators either kept it to help out companies or don't know it's there. This is the article I learned about it from:

@fibrepunk We should point out the used EV credit has very low income requirements.  To get the credit you must have income below $75k for single or $150k for married.  Also, are you sure a lease buyout would qualify?  You would need to purchase the vehicle from a dealer and not the back.  Also, the regulation states that for the vehicle to qualify, "the original use of which commences with a person other than the taxpayer."  It doesn't say the original owner can not be the taxpayer (which would be the bank), but the original use so the original use would be the lessee for a lease. [I should point out that even though I read contracts almost every week at work, language of Acts are just absolutely insanely stupid so they could be interpreted multiple different ways.]

@TT97 I run my own business, I just don't work as much on the year I need to buy a used EV with my under $75k income.  As for leasee buyout, I am sure Fisker can work something out with the leasee.  Like the car is now returned to the dealer(Fisker) and since you have been a great customer over the last couple years, we are offering you a special price for a used EV that we just got back from a lease.  lol