Save up to $4,250 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
- State Charging Station Offer$250Restrictions: Funding approval by The New Jersey Board of Public Utilities (BPU), residents can take advantage of the Charge Up New Jersey In-Home EV Charger Incentive of $250 towards the purchase and installation of an eligible networked Level 2 charger.
- Charging station must be new and installed at the applicant's New Jersey residence.
- Charger model must be Energy Star Certified and on the pre-approved eligibility list.
- Must be a resident of the State of New Jersey.
- Valid NJ EV registration showing a residential address in New Jersey.
- Only one charger incentive is available per vehicle registration (tracked by VIN).
* Delivery of any kind does not apply to Alaska and Hawaii. Contact the dealer for delivery details, restrictions and costs.