What Should Sanford Drivers Know About EV Tax Credits and Charger Incentives?
The federal Clean Vehicle Credit offers up to $7,500 in savings for qualifying electric vehicle purchases. This credit is set to expire on September 30, 2025, unless Congress extends it. A separate tax credit for installing a home EV charger is available through June 30, 2026. Timing your purchase and charger installation is critical to maximizing benefits.
How Is the $7,500 EV Tax Credit Structured?
The credit divides into two parts:
- $3,750 for meeting battery component sourcing requirements
- $3,750 for meeting critical mineral sourcing requirements
Depending on how your Chevrolet EV is built and sourced, you may qualify for the full credit or a partial amount.
What Are the Eligibility Requirements for Chevrolet EVs?
To qualify, a Chevrolet EV must:
- Be new at the time of purchase
- Contain a battery with at least 7 kWh capacity
- Be assembled in North America
- Be manufactured by a qualified company
- Remain under the MSRP cap: $80,000 for trucks/SUVs/vans and $55,000 for other vehicles
Additionally, the sale must be reported to the IRS, and income limits for buyers apply.
Why Should Sanford Buyers Act Before These Incentives Expire?
The Clean Vehicle Credit ends on September 30, 2025, and the home charger credit expires on June 30, 2026. These deadlines may not be extended, so acting now helps you avoid missing out on significant savings.
How Can Seminole Chevrolet in Sanford, FL Help You?
Our team can help you verify eligibility, explain program details, and guide you through IRS reporting and paperwork. We want to make your Chevrolet EV purchase and home charger installation as smooth as possible.
Ready to Learn More About Chevrolet EV Incentives?
Contact Seminole Chevrolet in Sanford, FL today or visit us to explore qualifying models and federal tax credits before time runs out.
