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Car Financing Newcomers Are Ready to Seize on Biden’s EV Boom

With new federal tax credits, several companies are hoping drivers will lease or subscribe their way to an electric car.

A Chevrolet Bolt electric vehicle.

A Chevrolet Bolt electric vehicle.

Photographer: Emily Elconin/Bloomberg
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Buying certain electric cars in the US just got cheaper, thanks to new tax credits meant to phase out gasoline-guzzlers.

And a wave of companies that let wary drivers lease or subscribe their way to an electric vehicle are making the most out of the government carrots. “They’ve got to be convinced,” says Andrew Krulewitz, founder of Zevvy, an EV financing startup. “Buying cars is a big deal.”