If you’re shopping for a used electric vehicle (EV) or fuel cell vehicle (FCV) for less than $25,000, you could be eligible for the used clean vehicle tax credit. The credit amounts to 30% of a qualified vehicle’s sale price, for a maximum credit of up to $4,000. Interested Tampa drivers can learn more about this tax credit and how it works below! Don’t hesitate to contact us if you have any questions.
How does the federal EV tax credit work for used vehicles? According to the IRS, to qualify for the used clean vehicle credit when buying a qualified used plug-in electric vehicle or fuel cell vehicle, you must:
Your modified adjusted gross income can’t exceed:
For your vehicle to qualify, it must meet all of these requirements:
The Toyota lineup includes many electric vehicles, but only some of them qualify for the used clean vehicle credit. At the time of writing, the following used Toyota models are eligible:
Are you ready to trade in your vehicle for a quality pre-owned EV? Visit our dealership near St. Pete today! Our team is standing by, and we can’t wait to work with you. From finding you an eligible vehicle that can help you take advantage of a tax credit, to providing any other EV information you need, we’re here to help.
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