Electric Vehicle Savings

Plug-In Electric Drive Motor Vehicle Tax Credit

If you choose to purchase an all-electric Ford from our dealership, you could qualify for the federal Plug-In Electric Drive Motor Vehicle Credit. With this program, you may be eligible to save up to $7,500 in federal tax incentives.¹

Background

The Internal Revenue Services (IRS) offers the Plug-In Electric Drive Motor Vehicle Credit to drivers who purchase a qualified plug-in electric vehicle. After purchasing an EV from our dealership, you could benefit from additional savings thanks to this program. The credit you receive depends on the type of Ford you drive.

For example, if you purchase the all-new, all-electric 2021 Ford Mustang Mach-E, you may be eligible to receive up to $7,500 in Federal Electric Drive Motor Vehicle Tax Credit, depending on your individual tax circumstances.¹

Eligibility Requirements

There are a few eligibility requirements for this incentive. Most notably, the Ford you purchase must be a qualified plug-in electric vehicle that has a 5-kWh or more battery. Additionally, it needs to have an external charging source and a gross weight up to 14,000 pounds.³

You must also purchase your vehicle for your own personal use and not for resale. Additionally, the EV should be predominantly driven in the United States.² This tax credit is not available if you lease an EV.

California Clean Fuel Reward

In addition to the federal incentives, California drivers can enjoy the benefits of the California Clean Fuel Reward. Thanks to this initiative, you may be eligible to save up to $750 on your next EV.⁴ The reward is offered on a sliding scale, depending on battery size.

Background

Created by the California Air Resources Board and your electric utility, the California Clean Fuel Reward aims to reward drivers throughout California for choosing to drive a fully electric or a plug-in hybrid vehicle. As a participating automotive retailer, we’re proud to offer this incentive to our customers.

Depending on the vehicle you choose to buy or lease, you may be eligible to save up to $750 thanks to the California Clean Fuel Reward. The reward amount depends on your vehicle’s battery size: The larger the battery, the more you save.⁴

Eligibility Requirements

There are a few requirements you’ll need to meet if you’re interested in the California Clean Fuel Reward. Most importantly, the Ford you lease or purchase must be a battery electric or a plug-in hybrid light-duty vehicle that has a battery capacity of 5 kWh or more. This means the Ford Mustang Mach-E qualifies for the full $750 reward, while the Ford Escape Plug-In Hybrid is eligible for a $683.35 reward.⁴

Once you’ve purchased or leased your Ford, you must register the vehicle in California. You must also live in California; however, there are no location restrictions within the state to be eligible for this reward. There’s also no income restriction for this program.⁴

Learn More About EV Savings Today!

When you visit our dealership, we’ll help you find a qualifying vehicle that will enhance your drives around Morgan Hill, San Jose, or Gilroy, CA. The potential of savings on a new electric vehicle awaits!