Does Toyota Qualify for the EV Tax Credit?

Wappinger drivers in the market for a new electric vehicle (EV) could secure a tax credit of up to $7,500. This is a compelling perk for any shopper, but some brands and models might not qualify for the credit. Does Toyota qualify for the EV tax credit? 

According to the IRS, qualifying EVs must undergo final assembly in North America. Currently, Toyota has just one all-electric vehicle, the Toyota bZ4X, which is assembled in Japan. However, you may still be eligible for a Toyota EV tax credit if you lease a new bZ4X instead of purchasing it. Learn more about the potential Toyota bZ4X tax credit below, and contact us with any questions.

Qualifying for a Toyota EV Tax Credit

Technically, Toyota does qualify for an EV tax credit if you lease a new bZ4X instead of buying one. Additional vehicle requirements include:

• A battery capacity of at least 7 kilowatt hours
• A gross vehicle weight rating of less than 14,000 pounds

Your household income also impacts eligibility for a Toyota bZ4X tax credit. Whether you reside in Poughkeepsie or Wappingers Falls, your household adjustment income cannot exceed $300,000 for married couples filing jointly, $225,000 for heads of households, or $150,000 for all other filers.

Highlights of the 2024 Toyota bZ4X 

The possibility of qualifying for a Toyota bZ4X tax credit makes leasing this innovative EV an intriguing opportunity. Plus, you’ll enjoy these highlights while driving a 2024 bZ4X around Fishkill:

• EPA-estimated range of up to 252 miles*
• Up to 214 hp and 248 lb-ft of torque
• DC fast charging capability
• Available AWD with X-MODE
• 12.3-inch multimedia touchscreen display
• Toyota Safety Sense™ 3.0 (TSS 3.0)
• And more! 

Secure Your Toyota bZ4X Tax Credit with DCH Wappingers Falls Toyota

We’re here to help you learn whether you can lease a Toyota bZ4X and qualify for a Toyota EV tax credit. Stop by our dealership in Wappingers Falls to learn more and take a new bZ4X for a test drive. While here, you can also find out about any current lease offers that could help you save even more on your EV upgrade. We’ll see you soon!

Disclaimer:

*EPA-estimated 252-mile total driving range rating for 2024 bZ4X XLE FWD; 236-mile total driving range rating for 2024 bZ4X Limited FWD; 228-mile total driving range rating for 2024bZ4X XLE AWD; and 222-mile total driving range rating for 2024 bZ4X Limited AWD total driving range for when vehicle is fully charged and operated under ideal driving conditions. Use for comparison purposes only. Actual range may decrease significantly depending on speed, outside temperature, accessory use, how/where you drive, charging habits, and other factors. Battery capacity also decreases with time and use, which will reduce range. See www.fueleconomy.gov and Owner’s Manual for details.</p>