EV Tax Credit FAQ

The EV tax credit is one of the reasons many drivers have been flocking to eco-friendly models like electric vehicles, hybrids, and plug-in hybrids. But the truth of the matter is that the rules and requirements are always changing, and it can be a little complicated to understand what vehicles are eligible for credits. Gillman Nissan is here to clear it all up, with answers to your pressing EV tax credit FAQs, right here at our dealership.

What is An EV Tax Credit?

Many drivers are hesitant about switching to electric vehicles or hybrid vehicles, and so the government originally began offering credits as a way to entice drivers to make the change. These credits helped to reduce driver tax bills and could be used for both purchasing the vehicles themselves and the charging stations that went along with them. Since these credits were first introduced, more electric vehicles have entered the market, including the Nissan Leaf and Nissan ARIYA, and tax credit requirements have begun to change.

What Vehicles Are Available for EV Tax Credits?

The requirements for EV tax credits will vary depending on whether the vehicle you're purchasing is brand new, eligible for up to $7,500, or used, eligible for up to $4,000. The biggest change in the last year is that vehicles must be produced in North America and must meet specific battery requirements outlined in the 2022 Inflation Reduction Act. We're proud to share that the 2023 and 2024 Nissan Leaf qualify for credits up to $3,750 because the models are produced in Tennessee.

How Do EV Models Help Me to Save?

One of the primary benefits of purchasing an EV model is the savings, so even if you don't qualify for tax credits, you'll still see lower costs of vehicle ownership. According to EV Life, the average cost of fuel for 13,500 miles of driving per year is $1,374. The average cost of electricity is $540, meaning electric car drivers can save up to $834 a year. You'll also save on maintenance costs, up to $405 per year.

Test Drive Electric Vehicles in Rosenberg, TX

No matter what your EV driving needs may be, Gillman Nissan is here to help. We'll match you with the perfect eco-friendly Nissan vehicle and support you on the Nissan financing process. Get started with help from our expert team today.