The electric vehicle tax credit is a great way to make switching to electric more affordable. The rules have changed a little in 2024, excluding some cars but making it even easier to get your rebate directly from us at Helfman Ford.
Instant Rebate
In previous years, the credit was applied to next year’s taxes. Now, you have the option to receive the rebate in person when your new EV. This means you can apply your credit directly to the cost of the car instead of waiting for a check in the mail.
How Much Can I Get?
The 2024 EV rebate rules changed which cars qualify for the credit going forward, removing several vehicles from eligibility. The 2024 Ford F-150 Lightning still qualifies for the full $7,000 credit, but others may only qualify for $3,500 or no longer qualify at all. It’s important to note that the new rules affect any EVs sold in or after 2024, not only new models built after that time.
Can I Get a Credit on a Used EV?
There’s a different credit available on used EVs that may still be available, even if the new model doesn’t qualify. If you buy a used EV through a dealership, not through private sale, you can receive 30% of the sales price back as a tax credit, up to $4,000. There are additional requirements, such as this being the first time the car was sold as used since 2022, but this can be another great way to make the jump to electric affordable.
Test-Drive the New Ford EVs at Helfman Ford
From switching off of gasoline to federal rebates, you can save a lot of money on a new Ford EV. Visit our showroom at Helfman Ford, your Stafford, TX Ford dealership, and experience the future of engine power today!
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