Lease Deposit.

[JWKIM]

When applying for a lease, does the $7500 tax credit get deducted later during the contract signing or is it deducted from the deposit?

I mean, if I can use TexCredit as a deposit when I sign a lease, do I not have to prepare cash?

Can you please let me know?

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[jjswan33]

No, tax credit goes towards capitalized cost reduction not fees due at signing.

 

[Joe Hoffman]

In other words: The Tax credit has already been factored into the price that we see. ?

 

[hobbyjogger71]

Yes, it has. Hence the "applied offers" - 7500 lease credit in the right-hand column. Those offers are under the hood of the calculator.

 

[sifutbol]

To be clear (I just leased and took delivery). My actual drive-off/down payment was about $11500. What I paid out of my pocket was about $4000 after they applied the $7500 tax credit.

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