The new EV Instant Rebates Program offers $9,000 for three-year leases. Other rebates are available for purchases and used EVs. There is, however, a catch.
The comparatively high purchase price of electric vehicles is still one of the main pain points of getting into one, but if you live in Washington State you’re in for some very good news. Starting this August, the Washington State Department of Commerce will offer up to $9,000 in instant rebates toward the lease of a new EV. Other incentives will also be available for used battery-powered cars and new EV purchases.
The dealer applies a $500 lease fee and a $200 documentation fee, and collects state and local transit, title and registration fees of $734, making the final lease total $2,798, or $78 per month over the 36-month agreement. The same department put up some estimated three-year lease examples using the $9,000 rebate as a down payment for different cars on the market today; the federal tax credit is also included.
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