Used Electric Vehicle (EV) Tax Credit

Considering buying a used EV for under $25,000? You may be eligible for a used clean vehicle tax credit of up to $4,000 or 30% of the sale price.

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To qualify for the used EV tax credit, you must:

  • Be an individual who bought the vehicle for use and not for resale
  • Not be the original owner
  • Not be claimed as a dependent on another person’s tax return
  • Not have claimed another used clean vehicle credit in the 3 years before the purchase date
  • In addition, your modified adjusted gross income (AGI) may not exceed:
    • $150,000 for married filing jointly or a surviving spouse
    • $112,500 for heads of households
    • $75,000 for all other filers
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To qualify, a vehicle must meet these requirements:

  • Have a sale price of $25,000 or less. Sale price includes all dealer-imposed costs or fees not required by law. It doesn’t include costs or fees required by law, such as taxes or title and registration fees.
  • Have a model year at least 2 years earlier than the calendar year when you buy it. For example, a vehicle purchased in 2023 would need a model year of 2021 or older.
  • Not have already been transferred after August 16, 2022, to a qualified buyer.
  • Have a gross vehicle weight rating of less than 14,000 pounds
  • Be an eligible FCV or plug-in EV with a battery capacity of least 7 kilowatt hours
  • Be for use primarily in the United States
EV Credit eligibility subject to approval by IRS. Denial of eligibility will result in an increased tax liability for the buyer equal to the amount of the credit given at time of sale.
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 Source:  IRS “Used Clean Vehicle Credit