To get a credit, your modified adjusted gross income cannot exceed:
The dealer takes care of the paperwork and the rebate, and is reimbursed by the government within 72 hours. Maas expects most dealers who sell EVs will do so. The dealer must be registered for the program with the IRS. When you buy a new electric car at a registered dealer, you negotiate how much of the tax credit you’ll use for a down payment, and how much cash you’ll get back - usually on the spot, through a credit on your charge card. “In order to move to 100%, we’ll need literally every consumer who is going to buy a new vehicle to buy zero-emission,” Maas said. It’ll also help the California government fulfill its mandate that any new passenger vehicle sold by 2035 be electric. That should mean more throughput on electric vehicle sales, helping EV customers and dealers. The new incentive program is far more streamlined than the previous federal program, he said. “There’s going to be more cash on the hood,” said Brian Maas, president of the California New Car Dealers Assn.
But will they help the warming world? It’s controversial. Plug-in hybrid cars are an often overlooked alternative to full electric vehicles. For Subscribers Environmentalists hate plug-in hybrids.
