2024 Nissan Leaf Requalifies for Federal Tax Credit Benefit, Offers Less Price for Buyers

Mar 07, 2024 01:36 AM EST

NISSAN CAR AUTOMOBILE AUTO VEHICLE — (Photo : PIXABAY/DayronV)

The federal tax credit is once again available for the 2024 Nissan Leaf. For those who are considering purchasing, this is a huge development. Nissan has attested to the Leaf's compliance with the most recent Inflation Reduction Act criteria. This implies that the partial $3,750 tax credit is now available for Leafs built in 2024 that are sold after March 6.

2024 Nissan Leaf Regains Federal Tax Credit

Although the appearance and features of the Leaf for 2024 haven't changed significantly, a small modification in the supply chain has made this renewed eligibility possible. The 2024 Leaf has a basic price of $29,280, but with destination fees included, prospective buyers may be able to get this environmentally friendly car for as little as $25,530.

The 2024 Nissan Leaf has requalified for tax credit eligibility, according to recent updates published by EVs InsideEVs Global, after satisfying the updated battery component sourcing requirements. This implies that qualified purchasers may be able to claim the entire $7,500 tax credit, which would increase the Nissan Leaf's affordability to about $24,000 after the tax credit. Nissan is also providing a $3,750 leasing bonus, which increases the Leaf's allure.

The federal tax credit landscape for electric vehicles has seen variations since the more stringent IRA rules went into effect on January 1, 2024. There were models qualifying for the federal tax credit that ranged from 43 the previous year to just 19 at the start of 2024.

The list of EV models that are once again eligible is expanding, though; the most recent cars to match the eligibility requirements are the 2024 Volkswagen ID.4, Honda Prologue, and Cadillac Lyriq. This trend demonstrates how the market's offerings for consumers who care about the environment are changing and how the requirements for electric vehicle tax credits are adaptable.

As per Cars.com 2024-manufactured Nissan Leafs sold on or after March 6 are eligible for the EV tax credit. Although the maximum price for electric vehicles is $55,000 (and $80,000 for trucks and SUVs), most potential Leaf buyers are not overly concerned about this number.

The buyers themselves have to meet specific eligibility standards. Standards include having a household adjusted gross income threshold of $300,000 (or $225,000 for a head of household) or $150,000 for single tax filers. These highlight the tax credit's targeted nature and its intention to encourage the purchase of environmentally friendly vehicles.

2024 Nissan Leaf

Nissan is credited by Edmunds with being the first carmaker to create a useful electric vehicle at a price that many consumers could afford. With the release of the first-generation Nissan Leaf, a small, five-door hatchback that paved the way for reasonably priced electric cars, this goal was accomplished. Fast-forward to the most recent Nissan Leaf (2024), and it still follows this fundamental strategy. It has, however, strayed from its innovative nature in certain ways, which is indicative of the market's development and maturation for electric vehicles.

There are certain restrictions with the Nissan Leaf that prospective purchasers need to be aware of. First of all, there isn't much room for tiny stuff in the automobile, which can worry people who travel with their belongings often. Furthermore, the cargo room may not be as versatile as it may be because the back seats do not fold flat.

Moreover, the Leaf's range is somewhat shorter than that of many other electric cars, which can be a disadvantage for people who want a longer driving range. Finally, users who depend on fast-charging infrastructure may experience inconveniences due to the limited support for the sort of fast-charging port that the Leaf uses. When deciding which vehicle to buy, these drawbacks should be carefully considered in relation to the advantages of the vehicle.