Tax Credits (Lease -vs- Buy)

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Jul 14, 2006 | 07:12 PM

kcrossley

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From: Annapolis, MD

Tax Credits (Lease -vs- Buy)

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

Jul 14, 2006 | 08:14 PM

bigbearballs

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Re: Tax Credits (Lease -vs- Buy)

Bush.

Jul 16, 2006 | 07:19 PM

birchman2

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From: Southern California

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.

Jul 16, 2006 | 11:35 PM

ElanC

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From: El Cerrito, CA

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."