FIAT Electric Cars, Trucks and SUVs for Sale Near Me

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