2021 Hyundai Kona Electric Review

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. 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. Not every version of the vehicle models will necessarily qualify. Please check with the dealer/seller to determine the eligibility of your specific 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

Implemented by the Delaware Department of Natural Resources and Environmental Control, the Delaware Clean Vehicle Rebate Program offers $2,500 to residents who purchase or lease a used eligible battery electric vehicle on or after May 1, 2025. Applicants may apply for the rebate at point-of-sale through a participating licensed Delaware dealership or apply post-purchase as an individual. To qualify:

• Fair Purchase Price of an eligible vehicle must not exceed $40,000. Fair Purchase Price is the average national purchase price for a specific used vehicle as determined by Kelley Blue Book.
• Model year of vehicle not to be older than 8 years from the current year (2017 model year or newer for 2025).
• Participant must be a Delaware resident with a driver's license or with proof of residency. Active duty military members stationed in Delaware with a temporary Delaware residential address but with permanent residency in another state, are eligible to apply.
• No private sales.
• Vehicle must be titled and registered as new in Delaware.
• Must retain ownership and registration of the vehicle with the Delaware Division of Motor Vehicles for a minimum of 36 consecutive months.
• Leased vehicles must have a lease term no less than 36 months.
• Individuals are not eligible to receive more than two new or used vehicle rebates through the lifetime of the program.

To learn more, visit https://driveelectricdelaware.org/

To learn more, visit https://treehouse.pro/edmundsdiscount/