What is the Used Clean Car Credit?

 
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.

Who Qualifies for the Used Clean Car Credit?

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:

• Be the person who purchased the used vehicle
• Not be the original owner
• Not be claimed as a dependent on another person’s tax return
• Not have claimed another used clean vehicle credit in the three years preceding the purchase date

Your modified adjusted gross income can’t exceed:

• $150,000 for married couples filing jointly or a surviving spouse
• $112,500 for heads of households
• $75,000 for all other filers

What Cars Qualify for the Used EV Tax Credit?

For your vehicle to qualify, it must meet all of these requirements:

• Have a sale price of $25,000 or less
• Have a model year at least two years earlier than the calendar year when you buy it (for example, if you purchase a vehicle in 2024, the vehicle’s model year should be 2022 or older)
• Not have been transferred to qualified buyer after August 16, 2022
• Have a gross vehicle weight rating of less than 14,000 pounds
• Be an eligible FCV or plug-in EV with a battery capacity of at least 7 kilowatt hours
• Be for use primarily in the United States

Which Toyota Models Qualify for a Used EV Tax Credit?

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:

• Toyota Mirai (model years 2016–2022)
• Toyota Prius Prime Plug-In Hybrid (model years 2017–2022)
• Toyota RAV4 EV (model years 2012–2014)
• Toyota RAV4 Prime Plug-In Hybrid (model years 2021–2022)

Find a Used EV Near Lakeland

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.