Tom Bush Family of Dealerships | Jacksonville, FL

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SAVE UP TO $4,000 WITH THE USED EV TAX CREDIT

The Used Electric Vehicle (EV) Federal Tax Credit can help you save up to $4,000 on your next pre-owned electric car.

Coming soon: Tom Bush Family of Dealerships will make it easier to save by applying these tax credits to eligible vehicles at checkout. The federal used EV tax credit could help you get the EV you want for less.

Note: The IRS refers to the used EV tax credit as the “previously-owned clean vehicle credit.” We’ll refer to it as the “used EV tax credit” for ease of use.

Shop Eligible Vehicles

How the Federal Used EV Tax Credit Works

To qualify for the federal used EV tax credit, both the buyer and the vehicle they’re purchasing need to meet specific qualifications established by the federal government and codified in the Inflation Reduction Act. Tom Bush Family of Dealerships makes it easy to understand which vehicles may qualify for the credit. Just look for the “EV Credit” badge while you search or view individual vehicles as you shop.

Currently, tax filers must file Form 8936 with the IRS to claim a used EV tax credit, which they can then apply to reduce their federal tax liability.

Coming soon, qualified customers who purchase a qualified vehicle with Tom Bush Family of Dealerships have the option to apply the value of their tax credit directly towards their new ride at the time of purchase, rather than waiting to claim the credit at tax time.

Dealers must register with the IRS to allow qualified customers to apply the federal used EV tax credit to the purchase price of the vehicle, so not every dealer will offer this alternative way to take advantage of this tax credit.

How to find eligible EV Tax Credit vehicles on our site

A person using Carvana.com on their phone to search for vehicles that are eligible for the EV tax credit

Select the “SHOP EV” menu
Select EV Tax Credit Vehicles

Shop Eligible Vehicles

Are You Qualified for the EV Tax Credit?

If your modified adjusted gross income (MAGI) exceeds the following amounts, you won’t qualify for the used EV tax credit:

$112,500 for heads of household

$150,000 for joint filers or spouses

$75,000 for all other filers

In addition to meeting the MAGI requirements, you must:

Buy the car for personal use, not for resale

Not be a dependent on someone else’s tax return

Not have claimed another used EV tax credit within the last three years

Not be the original owner of the vehicle you purchase.

Buyers who wish to take advantage of the federal used EV tax credit will need to attest that they meet the qualifications and income limits above.

How Do Vehicles Qualify for the EV Tax Credit?

A used EV must meet a number of qualifying criteria to be eligible for the used EV tax credit.

To qualify for the federal used EV tax credit, the vehicle must:

Have a sale price of $25,000 or less, including non-government fees (e.g., shipping and delivery fees); and

Be manufactured at least two years prior to the year of purchase (so for 2024, only cars made in 2022 and earlier qualify).

Additionally, the vehicle must:

Be a Fuel Cell Vehicle or plug-in EV with a battery capacity of at least 7 kilowatt hours;

Be bought for use primarily within the U.S.;

Have a gross vehicle weight rating of less than 14,000 pounds;

Have not been purchased by another individual since August 16, 2022.

What Vehicles Qualify for the Federal Used EV Tax Credit?

To see a list of every EV that currently qualifies for a federal used EV tax credit, visit fueleconomy.gov.