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this post was submitted on 23 Feb 2024
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Electric Vehicles
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There's been a lot of noise about it for sure but it helps blast away the notion of EVs being entirely unaffordable now.
For example, you could walk away paying ~$16k for a 2022 Tesla Model 3 Long Range if you qualify for the EV tax credit: https://www.hertzcarsales.com/certified/Tesla/2022-Tesla-Model+3-cd3e616c0a0e084c73d221de15ea7f83.htm
If you told me that 2 years ago, I wouldn't believe you.
Can you get the tax credit on a used car? I assumed this only applied to new vehicles as it seems odd to give out credits every time the car changes hands.
Yeah, they're really trying to push affordable EV adoption. That's why the credits capped new car prices... Which means most EVs don't qualify
Yup! There’s a few limits, like it has to be at least two model years old and can only be used once on a vehicle.
https://www.irs.gov/credits-deductions/used-clean-vehicle-credit