Save up to $4,125 with EV Tax Credits & Rebates
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- Federal Tax Credit for Retail non-cash$4,000Restrictions:
Beginning January 1, 2023 under the Inflation Reduction Act of 2022, the Internal Revenue Service (IRS) offers taxpayers a Used Clean Vehicle Tax Credit equal to 30% of the sale price up to a maximum credit of $4,000 for the purchase of a used plug-in electric or hydrogen fuel cell vehicle.
For the vehicle to qualify:
- Price cannot exceed $25,000.
- Need to verify the Vehicle Identification Number (VIN).
- Must be at least two model years older than the current calendar year in which the vehicle was purchased.
- Must be sold through a dealership, private sales not permitted.
- Not have already been transferred after August 16, 2022, to a qualified buyer.
For individuals to qualify:
- Must meet income eligibility, depending on modified adjusted gross income (AGI) and tax filing status.
- Must not be the first owner of the qualifying vehicle.
- Has not been allowed a credit under this section for any sale during the 3-year period ending on the date of the sale of such vehicle.
- Purchased for personal use, not a business, corporation or for resale.
To learn more, visit https://www.irs.gov/credits-deductions/used-clean-vehicle-credit
- Utility EV Charging Offer$125Restrictions: Dominion Energy offers EV owners a rebate of up to $125 towards the cost of a Level 2 charging station.
To qualify for this rebate, the customer and/or charging station must meet the following requirements:
- Receive electricity from Dominion Energy.
- Have an electric or plug-in hybrid vehicle.
- Networked/Smart charging capabilities to program the station to off-peak periods and respond to managed charging events
- You also earn a $40 e-gift card on the anniversary of your enrollment every year you remain enrolled.
Consumer Reviews for the BMW 7 Series
An excellent automobile.
What is a good price for a used 2020 BMW 7 Series?
- According to Edmunds.com's True Market Value calculations, the retail price of a used 2020 BMW 7 Series's most popular trim, the 740i, in great condition with 36,000 miles on its odometer, is $51,714. Prices vary by trim, region and options included. Learn more
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- All 7 Series engines have received power upgrades, notably the 750i trim has a turbocharged V8 with 523 horsepower, a nearly 20% increase from the previous engine. Learn more