The Federal EV Tax Credit | 2024 Edition
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- čas přidán 4. 04. 2024
- The Federal EV Tax Credit is meant to incentivize the purchase of new and used electric, plug-in hybrid, and hydrogen fuel-cell electric vehicles. The rules and qualifications change each year, so here's what you need to know for the tax year 2024. #KBB
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Can someone help me with this question on the ''used 4,000 Federal EV tax credit''
Example: Used Chevy Bolt is advertised
at dealership for 10,000:
but after the sales tax and
other fee's from the dealer
the cost is more like 11, 500 out the door:
but I also I also wish to purchase an extended warranty
adding another 1500.00 to the total price
bringing the final price to
13,0000, (if I also add the extended warranty)
_______________________________________________
Can I say on the IRS EV used car credit program,
that the cost of the car was
13,000? or do I have to use only the
10,000 price of the car, excluding the sales tax and dealer fee's
and extended warranty cost ?
The ev and phev tax credit here in Canada is approximately phev $3500 & ev $5000 in Québec city it's $8000, thanks for the presentation but in Canada the rebates are dealt with through the dealership
Thank you for the informative video. I am trying to find a dealer in the Chicago area who will lease me a 2024 Kia Niro Phev and pass on to me the full $7500 "clean vehicle tax credit". So far, I am unable to find a dealer who has any idea how to do this. Is there any central respository of participating dealers who know how this program works, or do I have to contact each dealer individually? I am not interested in trying to teach a reluctant dealer how to apply the tax credit to a lease. Any advice would be welcome. Thanks!
even if many cars don't qualify, manufacturers add their own 5K- 7500 discounts to compete. So don't be discourage about the Fed credits. Unless you are earning a lot of income to have tax write off then it would be better to buy with tax credit rather than out of the hood rebates.
Great video!
Ok that helps .
Unless you’re buying a Bolt or Leaf I will never understand this. If you can afford one of these vehicles you don’t qualify for the credit because of income, unless everyone is immensely overspending.
What about Volvo EVs?
I was wondering the same thing. Looks like they don’t qualify since they aren’t built/assembled in the US, Canada or Mexico.
Do hybrids get this?
Nope.
Some PHEVs do
Absolutely hogwash. If u make decent money forget it
Lease deals are still terrible for EVs. The $7500 credit does not matter.