$4,000 Used Vehicle Clean Energy Tax Credit Rebate.
*$4,000 Used Vehicle Clean Energy Tax Credit Rebate Eligible Disclaimer: The price includes the Used Vehicle Clean Energy Tax Credit Rebate
*Belmonte Auto is registered and licensed with the IRS and can help submit eligible customers’ paperwork for them to possibly receive a Used Vehicle Clean Energy Tax Credit Rebate when they purchase an eligible electric vehicle.
*Potential buyers are highly encouraged to review the IRS checklist for eligibility to ensure compliance. Eligibility criteria is very specific to used vehicles that qualify for the IRS Used Vehicle Clean Energy Tax Credit Rebate.
*Individuals buying for personal use and not to resell are potentially eligible for the IRS Used Vehicle Clean Energy Tax Credit Rebate.
*Vehicles that are purchased by a business entity are not eligible for the IRS Used Vehicle Clean Energy Tax Credit Rebate.
*Check with Belmonte Auto for more details as not all vehicles and buyers will qualify for the IRS Used Vehicle Clean Energy Tax Credit Rebate.
Who Qualifies
You may qualify for a credit for buying a previously owned, qualified plug-in electric vehicle (EV) or fuel cell vehicle (FCV), including cars and light trucks, under Internal Revenue Code Section 25E.
To qualify, you must:
- Be an individual who bought the vehicle for use and not for resale
- Not be the original owner
- Not be claimed as a dependent on another person’s tax return
- Not have claimed another used clean vehicle credit in the 3 years before the purchase date
In addition, your modified adjusted gross income (AGI) may not exceed:
- $150,000 for married filing jointly or a surviving spouse
- $112,500 for heads of households
- $75,000 for all other filers
You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your income is below the threshold for 1 of the two years, you can claim the credit.
Qualified Vehicles and Sales
To qualify, a vehicle must meet all of these requirements:
- Have a sale price of $25,000 or less. Sale price includes all dealer-imposed costs or fees not required by law. It doesn’t include costs or fees required by law, such as taxes or title and registration fees.
- Have a model year at least 2 years earlier than the calendar year when you buy it. For example, a vehicle purchased in 2023 would need a model year of 2021 or older.
- Not have already been transferred after August 16, 2022, to a qualified buyer.
- Have a gross vehicle weight rating of less than 14,000 pounds
- Be an eligible FCV or plug-in EV with a battery capacity of least 7 kilowatt hours
- Be for use primarily in the United States
Read the details on the IRS website at: https://www.irs.gov/credits-deductions/used-clean-vehicle-credit
