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Americans opt to lease electric cars to tap Biden tax credits

17 Dec 2023 | Abstracted from West Observer

About 52 per cent of EVs were leased in November, compared to 8 per cent in November 2022, according to data from Edmunds...The lease rate for cars with traditional engines in November was 22 per cent...Leasing allows car shoppers to apply the full $7,500 tax credit included in the Inflation Reduction Act to an electric vehicle, regardless of whether the car meets [federal] benchmarks for parts produced in North America that apply if the vehicle is purchased."

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