Does everyone who is leasing qualify for the $7,500 tax credit since the credit goes to GM?

Does everyone who is leasing qualify for the $7,500 tax credit since the credit goes to GM?

The credit can only go to one entity. Since GM's leasing branch is taking the credit, as they physically own the car, the person who is leasing cannot take the credit.

The $7500 going to the leasing company is one of the two huge reasons why the lease is so affordable!

The other one is the (likely) high residual. The gas engine won't get used as much and won't have lost as much life at the end of the 3 years.

Yes i understand that. I just want to make sure ANYONE you leases can take advantage of the low lease agreement due to the fact GM is the one taking the tax break. Sounds like my answer is yes. Thanks for the help!

P

Yes i understand that. I just want to make sure ANYONE you leases can take advantage of the low lease agreement due to the fact GM is the one taking the tax break. Sounds like my answer is yes. Thanks for the help!

P

Ah, yes that's correct. GM is allowed to take the credit on every car regardless of your own tax liability, so everyone should receive the attractive $350/month lease regardless of their income, so long as GM continues to offer it. :)