Motorists should leave not buy an electric car to qualify for a $7,500 tax ... trends now

Leasing an electric vehicle could be the easiest way to qualify for a new federal tax cut, experts say.

Motorists can claim up to $7,500 in credits when they buy specific models of electric cars thanks to a rebate in by the US Treasury Department in April.

But a bizarre loophole in regulations means that those who lease rather than buy have a greater choice in electric vehicles to choose as their next ride. The credits can be used to reduce their monthly payments on a leased vehicle.

In April, leases accounted for 41 percent of all electric vehicle deliveries - four times the amount in December. 

The Treasury added the Inflation Reduction Act as a way of reducing the costs of an electric car- which have historically been too expensive for the average consumer. But prices have come down as more companies make electric vehicles and the technology improves.

But the new rules are filled with complex qualifying criteria detailing how a certain percentage of battery parts must come from the US in order to qualify for the full $7,500 rebate. 

As a result, only ten of the 49 electric vehicles for sale nationally are eligible for the full credit. 

However electric cars which are leased are defined as 'commercial' vehicles under the rules.

'Commercial vehicles' are exempt from the requirements meaning borrowers have a wider choice to choose from. 

The cost of electric cars has been steadily falling in recent years. Data from Kelley Blue Brook in March found the average cost to buy are new electric vehicle now around $58,940.

And the price of leasing has also dropped. Consumer intelligence company J.D. Power found the average monthly ownership cost of an electric car leased for three years has fallen by $403 since December, largely because of the tax credits.

'Lease affordability has surpassed purchase affordability,

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