Leasing vs. Buying an Electric Vehicle

Leasing vs. Buying an Electric Vehicle
An electric car charges at a mall parking lot in Corte Madera, Calif., on June 27, 2022. Photo by Justin Sullivan/Getty Images
Anne Johnson
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Owning a car is a no-brainer for most people. You shop around, look for financing, and then purchase it. It’s yours, and, as opposed to leasing, eventually, you won’t have a car payment. But if you’re interested in an electric vehicle (EV), buying may not be the best option.

The 2022 Inflation Reduction Act may have changed how EVs are purchased or leased. But how did this act affect buying an EV, and did it make leasing a better option?

Inflation Reduction Act

Besides expanding the Internal Revenue Service (IRS), the Inflation Reduction Act addressed clean vehicles and home energy.
Anne Johnson
Anne Johnson
Author
Anne Johnson was a commercial property & casualty insurance agent for nine years. She was also licensed in health and life insurance. Anne went on to own an advertising agency where she worked with businesses. She has been writing about personal finance for ten years.
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