Does it feel like you’re paying too much in taxes? Then get some of that money back by purchasing an electric or plug-in electric hybrid vehicle. In order to encourage consumer adoption of these high-efficiency automobiles, the United States government is willing to throw some extra cash on the hood of your new EV or PHEV car or truck in the form of a tax credit of up to $7,500.
Of course, the U.S. government won’t be offering this incentive forever, so take advantage of this enticement while you still can. And be sure to research your own state’s tax credits as well, as you may be able to get more money back in the form of an additional tax break.
Below are a number of tax credit eligible 2015 and newer electric and plug-in hybrid electric vehicles that you can buy or order at an AutoNation retail center near you. The cash figure beside each vehicle is the credit amount the federal government is willing to offer up to on each specific vehicle. This figure is determined by the battery capacity of the EV or PHEV you’re considering.
Be aware that some of these vehicles are only sold in specific U.S. states. Consult your local AutoNation retail center for more information.
Electric Vehicles w/ federal tax credit up to
|Ford Focus Electric||$7,500.00|
|Chevrolet Spark EV||$7,500.00|
|Mercedes-Benz B-Class Electric Drive||$7,500.00|
|Smart Fortwo Electric Drive||$7,500.00|
Plug-In Hybrid Electric Vehicles w/ federal tax credit up to
|BMW i3 w/ Range Extender||$7,500.00|
|Ford C-Max Energi||$4,007.00|
|Ford Fusion Energi||$4,007.00|
|Porsche Cayenne S E-Hybrid||$5,335.60|
|Porsche Panamera S E-Hybrid||$4,751.80|
|Toyota Prius Plug-in Hybrid||$2,500.00|
|Volvo XC90 T8||$4,585.00|