One-pay lease and account balance? SOLVED!

[Deleted member 12493]

There is no such thing as a govt recapture of a tax credit. It's fake news.

You are !!!!!NOT!!!!! getting a tax credit when you lease a car. You are getting a DISCOUNT. Discounts cannot, by federal law, be "clawed back".

The tax law is completely irrelevant to you as a leasee (even though the tax law is perfectly irrelevant to this case either way, there is no stipulation preventing a lease from being bought out in US tax law.)

Good to know Thx for your education

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[dgkhn]

I posed this question to Chat GPT. Here is its answer:

No, there is no tax credit recapture if you lease a vehicle, receive the $7,500 federal EV tax credit, and later buy out the lease. Here’s why....

Wow, a surprisingly accurate and thorough response from Chat GPT. That said, you never know when Chat GPT is hallucinating or lying, so in general I would never act on what Chat GPT says. Not that I never use Chat GPT, but if I do, it's more as a reference search engine; I read all the referenced footnotes very carefully! (More than once, I've seen Chat GPT responses where one paragraph completely contradicts another paragraph.)

 

[krissrock]

makes sense...that's why we hear so many different numbers being thrown around for the months ppl have to wait to buy out the lea

Wow, a surprisingly accurate and thorough response from Chat GPT. That said, you never know when Chat GPT is hallucinating or lying, so in general I would never act on what Chat GPT says. Not that I never use Chat GPT, but if I do, it's more as a reference search engine; I read all the referenced footnotes very carefully! (More than once, I've seen Chat GPT responses where one paragraph completely contradicts another paragraph.)

yeah, one thing to know about AI...is that it doesn't know when things are fact or fiction...it just finds what's out there, and presents it to you in a nice manner... Gotta double check that stuff..

 

[FutureMacanOwner]

Also worth noting that if you are technically "leasing" the car, and don't actually own it, you won't get paid by the insurance company if the car is totaled in an accident.

The leasing company gets paid out for the value of the car, so you lose all the money you put into the lease.

I'd think of buying the car as an insurance policy against losing the entire investment in the unlikely event it gets wrecked.

 

[FutureMacanOwner]

Also worth noting that if you are technically "leasing" the car, and don't actually own it, you won't get paid by the insurance company if the car is totaled in an accident.

The leasing company gets paid out for the value of the car, so you lose all the money you put into the lease.

I'd think of buying the car as an insurance policy against losing the entire investment in the unlikely event it gets wrecked.

 

[FutureMacanOwner]

Also worth noting that if you are technically "leasing" the car, and don't actually own it, you won't get paid by the insurance company if the car is totaled in an accident.

The leasing company gets paid out for the value of the car, so you lose all the money you put into the lease.

I'd think of buying the car as an insurance policy against losing the entire investment in the unlikely event it gets wrecked.

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