Can You Claim EV Tax Rebates on Leased Vehicles?

When considering whether to buy or lease a vehicle, it’s not uncommon to have some questions. As electric vehicles become more and more popular, one of the biggest questions faced by potential buyers and lessees is this: Can you claim EV tax rebates on leased vehicles? The answer is a resounding yes, Canadians who buy or lease zero-emission vehicles are eligible for an EV tax rebate through the government’s iZEV program, as long as specific conditions are met. Our team at Pfaff Leasing discusses this subject in more detail below, and when you’re ready to find an EV to lease for all your Toronto and Calgary drives, visit our website.

What is the iZEV Program?

So, can you claim EV tax rebates on leased vehicles? Thanks to the Incentives for Zero-Emission Vehicles Program, you can. The iZEV program is a federal government initiative that allows both buyers and lessees to claim up to $5,000 in EV tax rebates on qualifying vehicles. The eligibility criteria are as follows:

• The vehicle must be a battery electric, hydrogen fuel cell, or plug-in hybrid electric model.
• The vehicle must be purchased or leased for at least 12 months, on or after its eligibility date.
• The vehicle must have an MSRP of less than $55,000 for passenger cars or less than $65,000 for higher-end configurations.
• The vehicle must have an MSRP of less than $60,000 for a station wagon, pickup, SUV, minivan, van, or special purpose vehicle or less than $70,000 for higher-end configurations.

The government maintains a list of EVs eligible for the iZEV rebate program. It includes a wide range of EVs from the world’s leading automakers, from economy cars to luxury models.

Keep in mind that the dealer will apply the EV tax rebate at the point of sale. It will be included on your bill of sale or lease agreement.

Lease an EV in Woodbridge Today

Now that you know you can claim EV tax rebates on leased vehicles, you’re ready to start car shopping. If you have any questions or would like more information about the iZEV program or how to lease a vehicle, don’t hesitate to contact us. We’re confident we have the ideal EV for all your driving needs in Woodbridge and beyond.