Edmunds' EV Buying Guide
Thinking about buying an electric vehicle? Our comprehensive EV Buying Guide can help, no matter what stage of the process you’re at. Find out what you need to know before you buy, including differences between electric vehicle types, understanding range calculations, charging capacities and more.
Electric Vehicle 101
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EV Tax Credits and Incentives
Research EV Tax Credits, Rebates and Other Incentives
Federal Credit
$7,500Maximum RebateUnder the Inflation Reduction Act of 2022, the Internal Revenue Service (IRS) offers taxpayers a Clean Vehicle Tax Credit of $3,750 or $7,500 depending on model eligibility for the purchase of a new plug-in electric vehicle. Beginning January 1, 2024, Clean Vehicle Tax Credits may be initiated and approved at the point of sale at participating dealerships registered with the IRS. Dealers will be responsible for submitting Clean Vehicle Tax Credit information to the IRS. Buyers are advised to obtain a copy of an IRS "time of sale" report, confirming it was submitted successfully by the dealer. To be eligible:
- A vehicle must have undergone final assembly in North America (the United States and Puerto Rico, Canada, or Mexico).
- Critical mineral and battery component requirements determine credit amount.
- Maximum MSRP of $55,000 for cars and $80,000 for SUVs/trucks/vans.
- Income eligibility applies depending on modified adjusted gross income (AGI) and tax filing status.
To learn more, visit https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after
State EV Offer
$6,500Maximum RebateRide Clean Mass, funded by the Massachusetts Clean Energy Center, offers $6,500 to qualified Uber, Lyft, and taxi drivers for the purchase of a qualifying new battery electric or hydrogen fuel cell vehicle. Participants will apply to receive as a consumer-direct rebate after purchase of eligible vehicle. To qualify:
- Vehicle must be on the MOR-EV eligibility list (Vehicle sales price must be $55,000 or less).
- Vehicle must be purchased on or after November 12, 2024.
- Applicant must have a driver's license, car insurance, and show proof of Massachusetts residency.
- For Uber and Lyft drivers: Completed 400 rides in the last quarter, or driven 1,800 miles in the last quarter, as well as during three of the last four quarters.
- For taxi drivers: Own or lease a taxi medallion and hold a taxi license/permit.
Additional information:
- Eligible drivers who plan on renting a vehicle instead of purchasing may receive up to $100 per week for up to 4 weeks to help cover the cost of renting an EV. Rental weeks must be consecutive.
To learn more, visit Ride Clean Mass
State Rebate
$3,500Maximum RebateFunded by the Massachusetts Department of Energy Resources, MOR-EV provides a Standard Rebate of $3,500, or a total of $5,000 (which includes the MOR-EV+ Rebate for qualified low-income applicants). Offer is available towards the purchase or lease of a battery electric or hydrogen fuel cell electric vehicle. Eligible applicants may receive this incentive at point-of-sale through participating dealers, or apply for a consumer-direct rebate option after purchase or lease of eligible vehicles. To qualify for this rebate, applicants must meet the following requirements:
- Vehicle sales price must be $55,000 or less.
- Must be a resident of Massachusetts. Active-duty military members stationed in Massachusetts, but with permanent residency in another state are eligible to apply with current military orders.
- Must submit your application and supporting documents within 90 days of purchase or lease.
- Vehicles must be retained and registered in Massachusetts for at least 36 consecutive months beginning immediately after the vehicle purchase or lease.
- Leased vehicles are required to have lease terms of at least 36 months to be eligible for the program.
Additional information:
- For the $5,000 (Standard Rebate combined with the MOR-EV+ Rebate), applicants must provide proof of participation in an eligible state or federal assistance program.
To learn more and apply, visit https://mor-ev.org/about
Vehicle Retirement Offer
$1,000Maximum RebateFunded by the Department of Energy Resources (DOER) under the Executive Office of Energy and Environmental Affairs, the MOR-EV Trade-In program offers $1,000 to Massachusetts residents for trading-in a qualifying internal combustion engine vehicle while at the same time purchasing or leasing a MOR-EV eligible vehicle from a licensed Massachusetts dealership. This offer requires participation in the MOR-EV Standard or MOR-EV+ rebates and is an addition to those programs. Not available as an addition to the MOR-EV Trucks rebate. To qualify:
- Rebate must be applied for after the trade-in via an online application.
- Model year of qualifying internal combustion engine vehicle must be at least 12 years old, based on the model year, at the time of trade-in and does not include hybrids.
- Vehicle must be up to date on inspections and must be registered in Massachusetts to the applicant or immediate family for at least 2 years prior to the trade-in date.
- Proof of residency will be required for application; active duty military members stationed in Massachusetts are eligible to apply with proof of residency.
For additional details and to apply, visit https://mor-ev.org/eligibility#trade
EV Videos
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Honda Prologue vs. Toyota BZ4X: Electric SUV Comparison Test | Which EV Is Right for You?
Toyota and Honda are generally the first two brands we think of when it comes to dependable, often class-leading vehicles. While both brands were a little late to the EV game, they’ve finally arrived with two midsize electric SUVs: tThe Honda Prologue and the Toyota BZ4X, which is also sold as the Subaru Solterra. In this video, Edmunds’ Clint Simone dives deep into both SUVs to find out if this is a win for Honda or Toyota