Leasing then buying out after 3 months

[LR4toR1S]

Question:
What is everyone's experience with exploiting the $7500 Federal Tax loophole? Just curious, after fees etc buying out the lease did you wind up ahead 4-5k ish? (Loophole: You claim the $7500 on lease, then you can buy the car pay fees and come out a bit ahead).



My Thinkingcould be dangerous)
I took advantage of the ICE to EV incentive $3k, and figured the lease Fed rebate of $7500, Plus our state Benefit of $5k (the incentives push the car below the 80k threshold) . I pick up the Car the fist week of December. I already own an EV (Mach E) so I'm fully away of EV terminology. Just not Lease terminology.



I'm considering a lease for 3 months (or sooner) then buying the car outright.


Heads up:
I know nothing about leasing. I usually buy outright. Some of the terminology may confuse my brain.
Please try the: make it clear to an eight year old.


Thanks in advance

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[Donald Stanfield]

You'll come out a little bit ahead that way, but I ran the numbers and the amount I'd come ahead wasn't worth all the messing around to do it that way. YMMV.

 

[meshugy]

Here’s a detailed breakdown of the lease buyout:

About $6K in savings vs purchasing normally, although he didn’t pay the destination fee for the lease. Not sure why, but I think most people would have to pay the $1800 destination fee either way so more like around $4K savings.

 

[LR4toR1S]

Here’s a detailed breakdown of the lease buyout:

About $6K in savings vs purchasing normally, although he didn’t pay the destination fee for the lease. Not sure why, but I think most people would have to pay the $1800 destination fee either way so more like around $4K savings.

Thanks This is exactly what I thought would happen, but needed some more clarification.

Thanks
Looking forward to showing off my R1s Dual Max in December.

 

[cobras.risers]

Here’s a detailed breakdown of the lease buyout:

About $6K in savings vs purchasing normally, although he didn’t pay the destination fee for the lease. Not sure why, but I think most people would have to pay the $1800 destination fee either way so more like around $4K savings.

He did indeed pay the destination fee. As stated in one of the replies “ You can see that in OP's snapshots, the gross capitalized cost 85200 minus the vehicle price 83400 is $1800.”

 

[Electrified Outdoors]

Make sure you do the math. The amounts could vary based on your state of residence.

 

[Golfer04]

This is definitely true. Some states/municipalities charge sales tax when a lease is bought out also. Essentially every time there is a vehicle title change.

 

[HammerFLA]

New here. I don't see the break down, it says Reddit. Is there a link?

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