Great news for those looking to lease a Tesla Model 3 Highland – you may qualify for the full $7,500 IRA tax credit thanks to a crafty loophole for commercial vehicles. Here’s how it works.
New launched Model 3 Highland is now available to order in North America. While purchased models don’t meet federal tax credit requirements, Tesla intriguingly lists a $7,500 incentive for leased versions.
How so? Turns out leases can be classified as commercial transactions under the Inflation Reduction Act rules. And commercial EVs aren’t subject to the same battery and assembly restrictions as consumer purchases.
This means the Model 3 Highland qualifies for the full $7,500 credit when leased, despite Tesla’s foreign assembly and battery chemistry disqualifying purchased models. It’s a creative loophole to unlock savings.
Tesla specifies the tax credit savings are distributed across the lease term. They estimate 36-month lease payments at $329 per month for the RWD trim. Factoring in the $7,500 credit drops the effective monthly cost to $246. That makes Model 3 leasing extremely competitive.
Of course, Tesla isn’t actually offering lease-end buyouts currently. So you’d have to return the car after the term. But the low monthly payments while retaining the Model 3’s performance and technology still make it an appealing option.
The Model 3 Highland order page now confirms availability in the United States, Canada. Delivery timelines for the refreshed EV are estimated between January and February 2024.
Two all-new variants are offered:
- Model 3 Highland RWD: $38,990
- Model 3 Highland Dual-Motor AWD: $45,990
Price excludes tax credits and incentives.
Thanks to this creative leased vehicle loophole, Tesla looks to make the Model 3 Highland more accessible through reduced monthly payments. For those wanting to get behind the wheel without buying, it’s a great opportunity.
Have you put in your order for a leased Model 3 Highland to take advantage of the $7,500 tax credit? Follow and DM us @GearMusk on X, let us know if you’ll be cruising in Tesla’s latest and greatest for under $250 a month!