A dealer can apply the tax credit to any leased electric vehicle, no matter where it's made, to reduce a customer's monthly payment.

Thanks to a boost from the government, leasing — not buying — is becoming the most affordable way to get your hands on an electric vehicle. Last year’s Inflation Reduction Act provided a federal tax credit of up to $7,

Tesla Inc's rapid adjustment of its battery supply chain means all of its Model 3 vehicles qualify for federal U.S. credits that, along with other tax breaks, could lower its price to less than a Toyota Camry.

All Tesla Model 3 sedans qualify for the federal tax credit, a change that has recently appeared on a government site tracking which EVs qualify for the incentives.

The US government confirmed the tax credit of as much as $7,500 for all variations of the Model 3 in an update on its website Tuesday. The change brings the total number of electric vehicle models eligible for the full tax credits to 22,