Electric vehicles are popular around Bensenville and offer many benefits, such as freedom from high gas prices and being more environmentally friendly. Another benefit of electric cars is tax credits. If you’re wondering about tax credits for electric cars, you’re in the right place! Many Elmhurst customers ask us at Roesch Ford, “How does the EV tax credit work?” We are here to help! Learn more about Federal EV tax credits and other Illinois tax credits here, and if you haven’t already purchased an electric vehicle or hybrid, contact us at Roesch Ford to get behind the wheel of one!
According to data from the U.S. Energy Information Administration (EIA), approximately 90% of the energy used in transportation around the United States comes from petroleum. To encourage more Elmhurst drivers to choose electric vehicles, the federal government offers many tax incentives, including:
In addition, many auto insurance companies around Addison offer significant discounts on insurance rates for certain hybrid and electric vehicles that meet specific criteria.
The great state of Illinois also occasionally offers rebate programs on EVs depending on the availability of funds. When the rebate program is offered, qualifying Illinois residents that purchase a new or used all-electric vehicle from specific Illinois-licensed dealerships are eligible for an Illinois Electric Vehicle Rebate. See the details below:
Eligibility requirements for an EV rebate in Illinois include the following:
Test-Drive an Electric Vehicle at Roesch Ford
Now that we’ve answered the question, “How does the EV tax credit work?” please don’t hesitate to contact us with any additional questions about federal EV tax credits. We are conveniently located near Villa Park and are always at your service. If you need auto maintenance or repairs on your EV, we can also help with that. Just schedule a service appointment online.
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