top of page

So You Want to Buy an EV or a PHEV!

Updated: Jul 29

There is an increasing variety of both EVs (electric vehicles) and PHEVs (plug-in hybrid electric vehicles) out there. How do you choose one that is right for you? It is a two-step process:

  1. First, you want a car (or truck) that fits your needs: is it a sedan, an SUV, hatchback, or crossover; does it have a battery with an adequate range for your needs; how much does it cost; and does it have the performance that you want? A listing of the available 2023 EVs and PHEVs can be found in the spreadsheets below and on the Residential Page on the WCACEF website (scroll down to see it). While the list of EVs and PHEVs on the market is expanding with each model year, this list will give you a sense of the choices currently out there.

  2. Second, you want to know if the EVs or PHEVs that you are interested in are eligible for the federal income tax rebate of up to $7,500. Although the listing in step one above will give you an indication of the eligibility for a rebate, the federal government is constantly revising this list. So you need the most current data before you go out to the showroom or to the dealer’s on-line website. The federal government has a good website that presents the current list of vehicles that are eligible for either a full rebate ($7,500) or a half rebate ($3,750). It also provides, in easy to understand language, all of the rules on qualification for the rebates based on the cost of the vehicle and your adjusted gross income (AGI). And if you want to buy a pre-owned EV or PHEV and get up to a $4,000 tax credit, check out the federal website HERE.

Good Luck and Happy Hunting.

77 views0 comments
bottom of page