2022 Polestar 2 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

Funded by the Massachusetts Department of Energy Resources, MOR-EV provides income qualified applicants a Used Rebate of $3,500, or a total of $5,000 (which includes the MOR-EV+ Rebate). Offer is available towards the purchase or lease of a used battery electric or hydrogen fuel cell electric vehicle. Eligible applicants with a pre-qualification voucher may receive this incentive at point-of-sale through participating dealers, or apply for a consumer-direct rebate after purchase or lease of eligible vehicles. To qualify:

• Applicants must have an eligible income level depending on modified adjusted gross income (AGI) and tax filing status.
• Vehicle purchase price must be $40,000 or less.
• Vehicle cannot have been purchased new or used within the previous twenty-four (24) months or leased for a period of less than thirty-six (36) months.
• Must be a resident of Massachusetts.
• Vehicles must be retained and registered in Massachusetts for at least 36 consecutive months beginning immediately after the vehicle purchase or lease.

Additional Information:

• For the $5,000 (Used 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/

Ride Clean Mass, funded by the Massachusetts Clean Energy Center, offers $2,500 to qualified Uber, Lyft, and taxi drivers for the purchase of a qualifying used 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 final purchase price must be $40,000 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

Funded 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 Used or MOR-EV+ rebates for income qualified applicants and is an addition to those programs. 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

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