Why You Shouldn't Miss Out on Refurbished EV Tax Credits in 2024
What are used EV tax credits?
Electric vehicle (EV) tax credits for pre-owned vehicles provide a 30% tax credit on the sale price, up to $4,000, offering substantial value compared to credits for new vehicles.
Which used electric vehicles qualify for used EV tax credits
To be eligible for the pre-owned EV tax credit, an EV must be purchased from a dealership, cost $25,000 or less, and be at least two calendar years older than the current year.
Which car buyers qualify for used EV tax credits
The IRS limits the used EV tax credit based on income levels: $150,000 for married couples and $75,000 for individual filers.
Surprising benefits of used EV tax credits
Used EV tax credits can offer bigger discounts than some new car credits and provide a wider range of vehicle choices compared to new car credits.
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