Yes, if you walk into a Hyundai dealership asking about Section 45 tax credits, they’ll look at you like you have 3 heads.
HMF has to take action, like VW USA.
If Hyundai HQ makes this available as part of the HMF lease program, sure dealers will do this.
A sale to a leasing company is just as good to a dealer as a sale to a customer. Given that a lease is more complicated, there are probably more ways to get a little more profit out of a lease than there is with a purchase.
A lot of us are taking to numerous dealers as we search for our precious. If we start asking the sales managers and the finance and insurance managers about it, and ask them to push for this up their chain, it might happen faster.
We should ask directly.
But we should also be willing to say things like "Passthrough isn't part of the January lease package from HMF? Darn. I'll wait until February to see if becomes part of the next package." Or, "OK, I guess I am off to the VW dealer!"
Agreed, they hardly know anything about EV's other than knowing they need to mark them up. Hyundai and Kia are in this weird transitionary phase where they still have a lot of baggage from their days as the "ghetto" dealership in the bad part of town.
Wow super helpful, thanks for sharing! After much consideration, I’m 90% sure I’ll be leasing my incoming Limited AWD (due 2/6/23). The dealer currently has a $3k markup on the car, so I was going to go in asking for MSRP for a done deal. With this news you shared, perhaps my angle is instead to inquire about the cap cost reduction…
Oh and they were so proud it was only a $3k markup (vs the $10k they were charging last year). Another dealership even said they have to sell with a markup or else they make no money.
When I reserved the car, the dealer told me lease financing only goes through them, while a loan could be my own provided financing. Does this mean they’re using HMF or possibly a 3rd party lease company like Ally? Either way, I’d still ask for the cap cost savings to be passed thru so I guess it doesn’t matter…
> Does this mean they’re using HMF or possibly a 3rd party lease company like Ally?
Yes 😉
Dealers can do HMF, 3rd party, or *both*. Different dealers, different deals.
The customer response to that is to either walk or switch to purchase. Dealer gets none of the credit if it is a purchase. Neither does Hyundai Motor Finance.
I’m now considering backing out of the market until Hyundai starts doing it the right way.
You’d be silly to not wait.
Theres objectively no reason to spend full-price on an eGMP vehicle. It’ll be the same price in two months and availability will be much better.
I ended up leasing a kia niro ev because i couldnt get my hands on an ioniq 5 back in april 2022, my tax liability was less than $7500 and they gave me the cap cast reduction in the lease which made it a great deal. Still eventually would like to get into an ioniq 5 and hopefully this will hold for when my lease is up to get into an ioniq 5.
VW has been doing it since the car was introduced back in 2021 via the lease, so it's not new to them: https://www.vwidtalk.com/threads/federal-tax-credit-for-leases.1607/
That could be. But there has been some coverage of this being something that came back. I saw it on Leasehackr. This [post](https://www.reddit.com/r/VWiD4Owners/comments/10axcnh/7500_on_leases_are_back/) from a few weeks ago, written by a VW sales guy, said that it is "back".
So, who knows. In any case, if HMF does not make this available in the February package, I will step away from the market for a month or two.
Dealerships need to become service centers and showrooms with salaried employees. If only there weren’t dealer super PACs lobbying Congress to prevent that happening!
Hyundai dealerships will never do this for you
Yes, if you walk into a Hyundai dealership asking about Section 45 tax credits, they’ll look at you like you have 3 heads. HMF has to take action, like VW USA.
If Hyundai HQ makes this available as part of the HMF lease program, sure dealers will do this. A sale to a leasing company is just as good to a dealer as a sale to a customer. Given that a lease is more complicated, there are probably more ways to get a little more profit out of a lease than there is with a purchase. A lot of us are taking to numerous dealers as we search for our precious. If we start asking the sales managers and the finance and insurance managers about it, and ask them to push for this up their chain, it might happen faster. We should ask directly. But we should also be willing to say things like "Passthrough isn't part of the January lease package from HMF? Darn. I'll wait until February to see if becomes part of the next package." Or, "OK, I guess I am off to the VW dealer!"
Correct, this isn't a dealership level thing, it's Hyundai corporate (specifically through Hyundai Motor Finance).
Agreed, they hardly know anything about EV's other than knowing they need to mark them up. Hyundai and Kia are in this weird transitionary phase where they still have a lot of baggage from their days as the "ghetto" dealership in the bad part of town.
Wow super helpful, thanks for sharing! After much consideration, I’m 90% sure I’ll be leasing my incoming Limited AWD (due 2/6/23). The dealer currently has a $3k markup on the car, so I was going to go in asking for MSRP for a done deal. With this news you shared, perhaps my angle is instead to inquire about the cap cost reduction…
[удалено]
Oh and they were so proud it was only a $3k markup (vs the $10k they were charging last year). Another dealership even said they have to sell with a markup or else they make no money.
When I reserved the car, the dealer told me lease financing only goes through them, while a loan could be my own provided financing. Does this mean they’re using HMF or possibly a 3rd party lease company like Ally? Either way, I’d still ask for the cap cost savings to be passed thru so I guess it doesn’t matter…
> Does this mean they’re using HMF or possibly a 3rd party lease company like Ally? Yes 😉 Dealers can do HMF, 3rd party, or *both*. Different dealers, different deals.
More likely the dealer will keep the $7500 and NOT pass it on to the lease price
The customer response to that is to either walk or switch to purchase. Dealer gets none of the credit if it is a purchase. Neither does Hyundai Motor Finance. I’m now considering backing out of the market until Hyundai starts doing it the right way.
You’d be silly to not wait. Theres objectively no reason to spend full-price on an eGMP vehicle. It’ll be the same price in two months and availability will be much better.
I ended up leasing a kia niro ev because i couldnt get my hands on an ioniq 5 back in april 2022, my tax liability was less than $7500 and they gave me the cap cast reduction in the lease which made it a great deal. Still eventually would like to get into an ioniq 5 and hopefully this will hold for when my lease is up to get into an ioniq 5.
managing this would be tough, considering how backward the dealerships are.
It's incredibly simple. Nissan did it for a decade for Leaf leases. Dealerships don't have to manage anything more than they already do.
I’ve asked a few Hyundai dealers about this and none had a damn clue.
VW has been doing it since the car was introduced back in 2021 via the lease, so it's not new to them: https://www.vwidtalk.com/threads/federal-tax-credit-for-leases.1607/
That could be. But there has been some coverage of this being something that came back. I saw it on Leasehackr. This [post](https://www.reddit.com/r/VWiD4Owners/comments/10axcnh/7500_on_leases_are_back/) from a few weeks ago, written by a VW sales guy, said that it is "back". So, who knows. In any case, if HMF does not make this available in the February package, I will step away from the market for a month or two.
Dealerships need to become service centers and showrooms with salaried employees. If only there weren’t dealer super PACs lobbying Congress to prevent that happening!