Making Sense of EV Tax Credits

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The Inflation Reduction Act has introduced a number of tax incentives for those who want to drive or lease an electric vehicle, but making sense of which vehicles qualify has proven difficult. In this bonus episode, our experts explain all the current rules for new, used, and leased EVs or hybrids, and how to take full advantage of the program.

 

 

SHOW NOTES

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00:00 - Introduction

01:07 - What’s new with the EV Federal Tax Credit.

01:47 - 200,000 Vehicle Cap.

02:27 - Income Caps.

03:03 - County of origin restrictions.

04:03 - Foreign Entity of Concern Rule.

04:57 - EV purchase walkthrough.

06:44 - How auto manufacturers are making their cars qualify for the Tax Credit.

08:00 - Why is the EV Tax Credit so complicated?

09:46 - Taking advantage of the Tax Credit when leasing.

10:39 - EV Tax Credit for commercial vehicles.

13:07 - Used EV Tax Credit.

14:50 - The bottom line.

 

 

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Electric Cars and Plug-In Hybrids That Qualify for Tax Credits Under the Inflation Reduction Act

https://www.consumerreports.org/cars/hybrids-evs/electric-cars-plug-in-hybrids-that-qualify-for-tax-credits-a7820795671/

 

More SUVs, Teslas Now Qualify for the New Electric Vehicle Tax Credit

https://www.consumerreports.org/cars/hybrids-evs/electric-vehicles-that-qualify-for-new-ev-tax-credit-a9310530660/

 

Electric Vehicle Savings Finder

https://www.consumerreports.org/cars/ev-incentive-finder/

 

New Cars You Can Count On: Highlights From Consumer Reports’ Latest Car Reliability Survey

https://www.consumerreports.org/cars/car-reliability-owner-satisfaction/new-cars-you-can-count-on-latest-car-reliability-survey-a9891586663/

 

Guide to Car Safety

https://www.consumerreports.org/cars-guide-to-car-safety/

 

 

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