The Expert Podcast

The good news is, if you're looking for an electric vehicle or plug-in hybrid, you actually have a lot of incentives and bonuses available to you that gasoline vehicle buyers do not have. These incentives are constantly being updated, and you don’t want to miss out on any. The government has some at the federal level, states have them, and even some utility companies offer incentives. Every month or two, these incentives are updated, with various improvements. This article will show you the electric vehicle laws and incentives.

By state, for example, Colorado offers EV buyers $2,500 for the purchase, on top of whatever federal laws are available. If it’s a heavy-duty electric truck, the incentive goes up to $10,000. Connecticut has incentives depending on whether the vehicle is new or used, meaning even for used vehicles, you can get some. Illinois offers $4,000 for fully electric vehicles, Delaware provides $2,500, and Maryland offers $5,000 for a new vehicle. These incentives are always changing, so staying updated is crucial. In addition, you also have the federal incentive—don’t miss out on electric vehicle incentives.

If you need the money to buy the car upfront, there are financing options that different companies offer. You can check out our website for details on how to take the incentive, reduce it from your selling price, and apply it to your financing. Even if you won’t receive the bonus or incentive for months or years, you can have it deducted from the price of the car right away. Check out our website for more information on how to fast-track and front-load your incentive so you can start owning your electric vehicle with a lower payment or lower upfront cost—and get your money back later.