Save up to $6,500 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 Rebate for Retail or Lease$2,500Restrictions:
Efficiency Maine through the Electric Vehicle Accelerator program offers up to $2,500 to qualified low-income Maine residents for eligible used battery electric and plug-in hybrid electric vehicles purchased or leased at participating Maine car dealerships. Vehicles purchased outside the State of Maine or from non-participating dealers are not eligible for a rebate. Mail-in rebates are also available for eligible vehicles purchased or leased directly from a manufacturer that does not have a licensed franchised dealer in Maine (eg. Tesla or Polestar). Chevrolet Bolt EV/Bolt EUV vehicles that are under active recall are not eligible, please confirm your VIN is not affected. To qualify:
- Applicants must participate in select income-based state or federal programs.
- Must apply for income pre-qualification prior to the purchase or lease of an eligible vehicle.
- Vehicle must have an original total MSRP no more than $50,000.
- Model years 2014 and older are not eligible.
- Must be a Maine resident at least 18 years of age with a valid Maine driver's license.
- Vehicle must be registered in the State of Maine.
- Applicants are required to retain ownership and registration in the State of Maine for at least 36 months.
- Leased vehicles must have a lease term of at least 36 months.
- Vehicle cannot have received an Efficiency Maine rebate within the prior 36 months.
- Limited to one enhanced rebate (new or used) per individual or two per household.
To learn more, visit https://www.efficiencymaine.com/electric-vehicle-rebates/
* Delivery of any kind does not apply to Alaska and Hawaii. Contact the dealer for delivery details, restrictions and costs.