Leasing: The Lost Art

November 29, 2023

Leasing: The Lost Art

It's time to talk about electric vehicles, also known as EVs. People seem to have differing opinions about this concept, and some are hesitant to embrace change. Additionally, rising vehicle costs and interest rates have led many consumers to believe that they can't afford a new EV. This is where leasing can be a helpful solution.

In reality, most consumers do not fully understand the leasing concept, and some may have had a negative experience with it in the past. Nonetheless, leasing an EV or a regular vehicle can make the payment more affordable for consumers. Also, EVs are regulated as to which ones qualify for the $7,500 tax credit and which do not. When you lease, the tax credit is automatically applied, and the Lessor is reimbursed the credit, while the Lessee benefits immediately without having to do anything extra.

Whether consumers prefer to buy or lease, educating them and your salespeople is key. This ensures that consumers can make informed decisions, and your salespeople can answer their questions and show the comparison with confidence.

Like it or not, the future is moving toward EVs, and dealers must find a way to embrace and maximize them.

Written By: Stephany Whitted

Wendt. R (2023, November 2). The Road to EV Sales.

Auto Dealer Today. https://www.autodealertodaymagazine.com/372343/the-road-to-ev-leases