The Federal EV Tax Credit | 2024 Edition
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- Опубліковано 4 кві 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 ?
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!
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
Great video!
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.
Ok that helps .
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.
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.
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.