Original equipment manufacturers (OEMs) often provide various incentives and perks to encourage electric vehicle purchases, making them more attractive to potential buyers.
Examples of OEM Perks and Incentives for EV Buyers
- Cash Rebates: Many OEMs offer cash rebates or discounts on the purchase price of an electric vehicle.
- Free Charging: Some manufacturers provide free public charging for a certain period.
- Free Chargers: Some manufacturers provide a free home charger and installation
- Service Packages: Complimentary maintenance services for the first few years.
OEM INCENTIVES
OEM INCENTIVES
Clean Vehicle Federal Tax Credit Breakdown
The federal tax credit for clean vehicles provides significant savings for electric vehicle buyers, making it an essential aspect of the purchasing decision.
Overview of the Credit for New and Used Vehicles
- New Vehicles: The federal tax credit can be up to $7,500 for new electric vehicles, depending on the battery capacity and manufacturer’s sales.
- Used Vehicles: Some used electric vehicles may also qualify for a federal tax credit, though the amount is typically lower than for new vehicles.
State Electric Vehicle Incentive Programs
State-level incentives can further reduce the cost of purchasing an EV, and they vary widely by location.
Examples of What State Programs May Offer
- Rebates and Grants: Cash rebates for purchasing or leasing an electric vehicle.
- Tax Credits: Additional state tax credits that supplement the federal credit.
- HOV Lane Access: Special access to high-occupancy vehicle lanes for electric vehicles.
nkl
lm.
Utility Electric Vehicle Incentives Programs
Many utility companies offer incentives for electric vehicle owners, including rebates on home chargers and special electricity rates. Check your utility company’s website and energy efficiency program to find these incentives.
Examples of What Utility Programs May Offer
- Rebates on Home Chargers: Some utilities offer rebates for the purchase and installation of Level 2 home chargers.
- Special EV Rates: Time-of-use rates or lower electricity rates for electric vehicle charging during off-peak hours.
