Jump to content
Ford Fusion Energi Forum

What About Leasing a Fusion Energi?


pluggedin
 Share

Recommended Posts

If one does not want to wait until 2014 to use the assumed $3,750 tax credit for the year 2013 or you will not have a tax burden high enough to use the full tax credit, would leasing the car make sense?

 

I'm not completely sure how leasing a car works but I think the dealer/leasing company can use the tax credit themselves and reduce the price of the car by $3,750 before they figure tt&l and payments. In that way you can take advantage of the tax credit right away. Right?

 

Anyone want to make comments on that idea?

Link to comment
Share on other sites

  • 3 months later...

I am in the Scottsdale/Phoenix area and have only found 2 Fusion Energis at the 3 dealerships I contacted. (I'm using the True Car website for my insurance company.) I am thinking of leasing because the technology is changing so fast. Ford has a 2-year lease, whereas Chevy requires 3 years on the Volt. 

 

Question: How much does the 240-volt charger for the Energi cost? Can this be paid separately from the car? In other words, paying it separately would not increase the lease payments. 

 

Any feedback for this newbie would be much appreciated. Thank you in advance. 

Link to comment
Share on other sites

You can buy the charger separately.

 

http://www.amazon.com/Leviton-EVB22-3PM-Evr-Green-Charging-Station/dp/B004G6ZSZG/ref=sr_1_1?ie=UTF8&qid=1363746957&sr=8-1&keywords=leviton+ev+charger

 

It doesn't say Ford on it but it was made by the same company that makes the "Ford" one.

 

There would also be the cost of installing a 240 volt outlet for a 6-20P plug.  The power cord is 1 foot long and extension cords are not permitted.

 

You might be able to get by with the 120 volt charger that comes with the car unless you make a lot of trips from home during the day.  If you leave in the morning to go to work and return in the evening the 120 volt charger will charge the battery over night.

Link to comment
Share on other sites

  • 2 weeks later...

I'll be looking at a two year, 12,000 mile lease. If the Energi proves to be the car I think it will be, I'll drive a 2013 for two years, then do purchase on a 2015 model if the tech seems to have improved. I test drove a Fusion SE Hybrid yesterday to see if the vehicle footprint fits my needs, which it seems to. The dealer and I spoke about leasing costs on the Energi and it does seem like the leasor takes the tax credits off the top.

Edited by thinkcooper
Link to comment
Share on other sites

  • 3 weeks later...
  • 7 months later...

Yes, the leasing company takes the Federal tax credit, and then applies the same amount to you as an incentive. This eliminates the need to do anything special at tax time.

So when I was negotiating the deal, my dealer told me that I claim the tax credit, even though I leased. I had not done any research on that before hand and had them check multiple times to make sure. They still continued to tell me that. Now since they did not give me the tax credit as an incentive when I signed for the car, I am now trying to figure out what to do. The people at Ford Credit do not know what I am talking about and keep saying that if they get any money regarding the vehicle I leased, it will not go into their pockets, rather it will go to my lease to reduce my lease payment. The purpose of me leasing was to take advantage of the tax credit before 2013 ended. Somehow I just have a bad feeling it is not going to work out the way it should. So does anyone know if the leasing company will apply that credit towards my leases since they did not give that to me at the dealership?

Link to comment
Share on other sites

You cannot get a tax credit if you lease the vehicle, as you are not the owner.  You have to purchase the vehicle.  Your dealer misled you in order to push a lease.  My dealer tried the same thing with me, pushing a lease saying it would save me a bit of money up front but didn't calculate the $3750 I would receive with the credit.  I've always been weary of leases as generally they cost you more in the end; especially if you decide to purchase the car at the end of lease.  If you turn the car in, then you have nothing to show for all of the money you expended.  I actually did pause to consider since this is a 1st generation car from Ford and if it did have problems it might be nice to be rid of the car in two years.  Who knows, in two years the batteries may be much more efficient.

 

Sorry you were misled into thinking you would receive a tax credit.

 

Steve

Link to comment
Share on other sites

Im not a tax expert, but from the IRS page

 

"The vehicles must be acquired for use or lease and not for resale. Additionally, the original use of the vehicle must commence with the taxpayer and the vehicle must be used predominantly in the United States. For purposes of the 30D credit, a vehicle is not considered acquired prior to the time when title to the vehicle passes to the taxpayer under state law."

http://www.irs.gov/Businesses/Plug-In-Electric-Vehicle-Credit-%28IRC-30-and-IRC-30D%29

 

I would assume you would just file the paperwork with your taxs at the end of the year. I was told the same thing when buying my car, I could lease and still use the tax credit. The key is the lease company cant also claim it. I would contact an accountant to get a real answer.

Link to comment
Share on other sites

This from Edmunds:

 

"If a vehicle is being leased, the credit stays with the leasing company, which is the actual owner of the car or truck. In most cases, however, the tax credit has been factored into the cost of the lease, so the customer still benefits. Lease programs for the Chevrolet Volt and Nissan Leaf, for instance, include the $7,500 as a credit toward the down payment."

 

http://www.edmunds.com/fuel-economy/the-ins-and-outs-of-electric-vehicle-tax-credits.html

Link to comment
Share on other sites

You cannot get a tax credit if you lease the vehicle, as you are not the owner.  You have to purchase the vehicle.  Your dealer misled you in order to push a lease.  My dealer tried the same thing with me, pushing a lease saying it would save me a bit of money up front but didn't calculate the $3750 I would receive with the credit.  I've always been weary of leases as generally they cost you more in the end; especially if you decide to purchase the car at the end of lease.  If you turn the car in, then you have nothing to show for all of the money you expended.  I actually did pause to consider since this is a 1st generation car from Ford and if it did have problems it might be nice to be rid of the car in two years.  Who knows, in two years the batteries may be much more efficient.

 

Sorry you were misled into thinking you would receive a tax credit.

 

Steve

Ford Credit finally contacted me back after a week. They verified that the tax credit is only applied as an incentive at the time of signing the lease. My dealer told me it was not given at the time of lease signing but the leasing company said that they recall making the dealer calulate the incentive to "structure the lease legally". On my lease papers that was given, it does not show a breakdown of the incentives, but Ford verified I was given the credit at lease signing. I just dont know why the dealer would lie about that. The only thing I could think of is that they are butt hurt over how much I was able to get off the car. Sticker price was $46,310 and made it out with the price of $36,100 which included the Oklahoma excise tax. I am happy with the car and the deal I got, just wanted to make sure my dealer wasnt trying to get away with it like I have read from others. Thank you for your reply!

Link to comment
Share on other sites

  • 3 weeks later...

If anyone's interested. I just leased a 2013 Fusion Energi Titanium on 12/31. Vehicle included Adaptive Cruise Control, Moonroof, and White Paint. I used the X-plan through my employer to get ~$2,500 off, and then there were $7,500 in rebates for a lease. The net result was a capitalized cost 10k under the sticker price. 

 

For a 24 month lease with 13,500 miles/year, my total out of pocket was $800 and the monthly payments are $437/month total (Note: The state of KY charges a "Personal Property Tax" each year in addition to sales tax, which Ford Credit includes in the monthly payment. This works out to be $30/month, so it's really $405/month for the lease and sales tax). Oddly, due to the incentives, the 24 month term was the cheapest option due to residual values. After three years, Ford calculated the residual to be 48% (Compare to 59% for my 2011 Hyundai Sonata and 56% for a 2013 MKZ). The interest rate on 2013s is .25%!

 

Why did I lease? The main reason is technology. Two years from now, the market is going to be much different. I'm hopeful that the charging infrastructure is there to make going "All electric" a reality. Until then, this car gives me the chance to get my "feet wet". That said, I've only had the vehicle for a couple of days and I'm already in love!

 

Hope this helps someone!

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

×
×
  • Create New...