Yes, and the difference matters more now that the federal purchase credit has ended. Leasing and buying have never been treated identically for incentive purposes, and the gap between them has shifted meaningfully since September 2025.
How leasing used to work
Leased vehicles were often eligible for a separate commercial clean vehicle credit that dealers could apply directly to lease pricing, a pathway that didn’t carry the same income caps, MSRP limits, or assembly requirements as the standard purchase credit. This made leasing an attractive workaround for buyers who didn’t qualify for the regular credit on a purchase. That pathway also ended for vehicles acquired after September 30, 2025, closing the gap that used to exist between leasing and buying.
Where lease savings come from today
Today, lease savings mostly come from a different source: manufacturer and dealer lease incentives, which are set independently by automakers and change monthly. These aren’t tax credits, they’re direct price reductions built into the lease deal, and they can vary significantly by model and even by region.
What to actually check before leasing
- Ask the dealer directly what lease cash or incentives currently apply to the specific model, since these change often and aren’t always advertised clearly
- State and utility incentives generally apply to leased EVs too, not just purchased ones, so it’s worth checking those regardless of which path you choose
- The new federal loan interest deduction does not apply to leases, only financed purchases, which is a meaningful factor if that deduction matters to your decision
Buying versus leasing now comes down to the numbers
With the old incentive gap between leasing and buying closed, the decision comes down more to the usual lease-versus-buy factors, monthly payment, mileage limits, and whether you want to own the vehicle long-term, rather than which path unlocks a bigger tax benefit.
💡 Tip: Not sure if leasing or buying makes more sense for you? Run the numbers with our Lease vs Buy Calculator.