Autos & Vehicles
Why EV Leasing Is a No-Brainer in the US Thanks to This Tax Benefit
Electric vehicles (EVs) have been gaining popularity over the years, as more people become aware of their environmental and financial benefits. However, the high upfront cost of purchasing an EV can still be a barrier for some consumers. That’s where leasing comes in as an attractive option, and a new tax benefit is making EV leasing more affordable than ever.
According to the IRS, taxpayers who lease an EV in 2021 can claim a one-time credit of up to $7,500, the same amount as the federal tax credit for purchasing an EV. This credit is passed on to the lessee in the form of a reduced monthly payment, effectively making EV leasing more affordable than leasing a gas-powered vehicle.
This tax loophole has been in place since 2009, but its benefits have become more apparent in recent years as EV technology has improved and more automakers have entered the market. As a result, the number of EV leases has been steadily increasing. In fact, according to a recent report by Cox Automotive, EV leases accounted for 8.4% of all new leases in the first quarter of 2021, up from just 2.5% in 2017.
One of the main advantages of leasing an EV is the lower cost of ownership compared to buying one outright. EVs typically have lower maintenance costs and fuel costs, and leasing allows consumers to upgrade to newer models with the latest technology every few years without having to worry about selling or trading in their old vehicle.
Additionally, EV leases often come with other perks, such as free charging at certain locations or incentives from the automaker or dealer. Some states also offer additional tax incentives for EV leases, further lowering the cost of ownership.
However, there are some limitations to the tax benefit for EV leases. The credit is only available to the original lessee of a new EV and is based on the battery capacity of the vehicle. The credit is also phased out for high-income taxpayers, with the full credit only available to individuals with a tax liability of at least $7,500.
Despite these limitations, the tax benefit for EV leases is still a significant advantage for consumers looking to make the switch to electric. With more automakers introducing affordable EVs and the infrastructure for EV charging continuing to improve, it’s likely that the popularity of EV leasing will continue to grow in the coming years.
In conclusion, the tax loophole that allows for a one-time credit of up to $7,500 for EV leases is making EV leasing more affordable than ever before, and this is attracting more consumers to consider this option as a viable alternative to purchasing a gas-powered vehicle. The benefits of leasing an EV, including lower maintenance costs and the ability to upgrade to newer models with the latest technology, are further enhanced by the tax credit. As more automakers introduce affordable EVs and the infrastructure for EV charging continues to improve, it’s likely that the popularity of EV leasing will continue to rise.
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MOT Test: The Importance of Tyre Checks for Vehicle Safety
An MOT test is the legal requirement for every vehicle in the UK. When the age of a vehicle reaches three years old, the MOT test is required to ensure the annual test of the vehicle.
Various components of a vehicle are examined during the MOT test. But tyres directly contact the road, so it is necessary to check the entire tyre. Sometimes, well-maintained vehicles are unsafe if the wheel balance and tyres are incorrectly fitted or worn out.
A driver should understand which tyre components need to be tested during the MOT. It can improve safety, manage compliance, and avoid unexpected failure for the test. This blog describes the key tyre checks during the MOT test. and helps you decide how important MOT testing is for you and why you should get your car MOT tested.

How Important Is Maintaining Vehicle Safety?
Tyres play an essential role in managing steering, braking efficiency and overall stability. The poor condition of the tyres reduces grip and stop distance, and increases the risk of blowouts. For these reasons, the MOT test is conducted to check the tyres, ensure compliance with legal standards, and assess roadworthiness.
Failing an MOT test due to various tyre issues is a common aspect. However, some of the failures can’t be prevented with timely replacement and routine checkups. And this test helps you a lot in maintaining the safety of your car.
Tread Depth of Tyre
The main aspect of tyre testing during the MOT test is inspecting the tread depth. The minimum tread depth in the UK is 1.6mm in three-quarters of the width under all circumstances of tyres.
During the MOT Test Northampton, the examiner inspects the worn-out tread. They also test if the tread depth exceeds or meets the legal limit. The insufficient tread depth can reduce the grip in wet conditions. This increases the risk of aquaplaning. The tyres below the legal limit may result in the automatic failure of the MOT test.
Condition of the Tyres
The condition of the vehicle’s tyres is carefully inspected. The MOT testers check the signs of damage, which can be the reason for compromising safety. This also includes the following:
- Exposed ply or cords.
- Signs related to the previous and improper car repair.
- Splits, cuts, and cracks on the rubber.
- Signs of improper repairing.
Sidewall damage is a serious issue because it weakens the structure of the tyres. If the tread depth is affected by visible damage, it may lead to the MOT failure.
Uneven Patterns of Wear and Tear
Uneven tyre wear may signal underlying issues like steering misalignment or suspension faults. The MOT examiners test the wear patterns with the tyre surface for detecting various issues such as:
- Feathering the flat spots.
- Wear on the outer edges and inner wear.
- Scalloping and cupping.
The uneven damage may be the reason for failing an MOT test. The severe cases may indicate the risks related to safety. There are some issues related to the steering geometry. They are also connected with the wheel balancing Northampton. This helps restore the tyre wear issue. It can also improve how vehicles are handled.
Inflation and Pressure of Tyres
The MOT examiners don’t measure the pressure of the tyres by using gauges. They also find out the visual assessment of whether the tyres get over-inflated or under-inflated. Improper tyre pressure impacts braking, handling, and the longevity of tyres.
The visible deflated vehicle tyres indicate valve issues and a slow puncture, which are often flagged as unsafe. The consistent maintenance of the correct tyre pressure helps in improving fuel efficiency and preventing uneven wear or tear.
Wheel Security
The tyre focuses on the secure fittings to the wheel. The MOT testers check the following:
- Loose or missed bolts and wheel nuts.
- Damaged wheel rims may affect the seating of the tyres.
- Evidence related to the wheel movement.
This can help in checking the overlapping function of the wheels. It also impacts the safety of the tyres. Poor wheel security may be the cause of vibration and other wheel-related issues.
Conclusion
The tyres are a crucial part of the safety of a vehicle. With the help of the MOT test, a detailed inspection is done. The correct inflation, regular tyre checking, and timely tyre replacement can reduce the risk related to the MOT failure. This also improves driving safety. Vehicle users should take proactive steps to book an MOT and check the important parts, such as the wheels and tyres of the vehicle.
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