I am moving to a new country and will be forced to part with my beloved 2017 FFE. I am 1.5 years in to my 3 year lease. I would like to buy it out (~$15,000) and resell it. Since the rebate in Ontario is gone, used electric vehicles have good resale value.
I was told by my dealership that, in regards to the incentive that was applied to my lease terms, there "may be ramifications to the incentive due to early termination". He said the dealership may be charged back a portion of the incentive, which he would have to charge me. He was not sure of any of this, however. He also suggested I just transfer the lease. It is not in his best interest for me to buy it out because the dealership doesn't receive the vehicle back at the end of the term (which they could probably resell for a margin).
The terms of the government incentive state that if you purchased your vehicle, "you must keep your electric vehicle registered and plated under your name, insured and roadworthy in
Ontario for a minimum of 12 months from the date the vehicle was registered and plated."
The terms state "If you leased your vehicle you are eligible the full incentive if your lease term is a minimum of 36 months or longer. If you do not meet this requirement, you must repay the entire incentive."
I'm not sure where I fall in regards to keeping the incentive. I've HAD the vehicle for over a year, but technically haven't OWNED it for over a year. Any thoughts?
I was told by my dealership that, in regards to the incentive that was applied to my lease terms, there "may be ramifications to the incentive due to early termination". He said the dealership may be charged back a portion of the incentive, which he would have to charge me. He was not sure of any of this, however. He also suggested I just transfer the lease. It is not in his best interest for me to buy it out because the dealership doesn't receive the vehicle back at the end of the term (which they could probably resell for a margin).
The terms of the government incentive state that if you purchased your vehicle, "you must keep your electric vehicle registered and plated under your name, insured and roadworthy in
Ontario for a minimum of 12 months from the date the vehicle was registered and plated."
The terms state "If you leased your vehicle you are eligible the full incentive if your lease term is a minimum of 36 months or longer. If you do not meet this requirement, you must repay the entire incentive."
I'm not sure where I fall in regards to keeping the incentive. I've HAD the vehicle for over a year, but technically haven't OWNED it for over a year. Any thoughts?
