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In recent years, rising gas prices in Wappinger and beyond have made electric vehicles and hybrids like the Toyota bZ4x and the RAV4 Prime skyrocket in popularity. And not only do electrified vehicles eliminate trips to the gas pump, but they also have fewer maintenance needs and deliver a more sustainable driving experience in Poughkeepsie or wherever the road takes you. But is there an EV tax credit in New York State that offers additional savings? In addition to the federal-level tax credit, New York has a Drive Clean Rebate that you may be able to take advantage of. Below, DCH Wappingers Falls Toyota answers the question: Does Toyota qualify for a New York EV tax credit?
So, is there an EV tax credit in New York State? While there is no specific New York EV tax credit, there is a Drive Clean Rebate that provides up to $2,000 off select all-electric and hybrid vehicles. The exact amount varies depending on the vehicle’s electric driving range and MSRP.
The Drive Clean Rebate is typically deducted right at the point of sale, which means instant savings.
Keeping the above in mind, you may be wondering, Does Toyota qualify for a New York EV tax credit? Yes, certain Toyota models are eligible for the Drive Clean Rebate!
The federal government also gives select buyers an EV tax credit, also taken directly at the point of sale. You can claim up to $7,500 in instant tax credits as long as the vehicle meets these requirements:
Also, buyers must not make more than these income caps in order to utilize a federal EV tax credit:
Are you ready to enjoy the government incentives available to drivers of EVs? Why not check out our wide selection of electric and hybrid vehicles? We’d love to put you behind the wheel of one! We’re just down the road from Fishkill, so drop by or contact us today.
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