The Expert Podcast

This is huge news to be on the lookout for if you're in the used electric vehicle market, whether you're a buyer, seller, or dealer. There's a new law being proposed that will extend the tax credits for electric vehicles into the used car market. Right now, there's a $7,500 tax credit for new electric vehicles, and that's helped EV sales for new cars quite a bit. Getting adoption of used electric vehicles is the next priority for manufacturers and government agencies.

What they're proposing is to add a $4,000 tax incentive for used electric vehicles. This could be a big deal if passed, which it looks like it will be. Buyers of certain, almost all, electric vehicles in the used car market will be able to get a $4,000 credit for that purchase. There will be some limitations—some higher-end vehicles may not qualify, and vehicles over a certain dollar amount will not qualify.

Keep an eye on this site. As soon as this is passed and available, we will put the application forms for this tax credit on the website, where you can download and print them out, send them in, or even submit them electronically to get your tax credit. Be on the lookout if you're in the market for a used electric vehicle. This is coming, and all indications suggest that this law will be passed, offering free money from the government for buying a used electric vehicle.