What Should Surprise Residents Know About the Federal EV Tax Credit and How It Can Help You Save?
The federal government offers a Clean Vehicle Credit that can reduce the cost of a new electric vehicle by up to $7,500. At Surprise Ford, we want to help you understand this program so you can take full advantage when purchasing your next Ford EV.
The credit depends on specific vehicle qualifications and proper reporting at purchase.
How Is the $7,500 Federal EV Tax Credit Structured for Your Ford EV Purchase?
The credit is divided into two equal parts:
- $3,750 if the vehicle’s battery components meet required manufacturing and sourcing standards.
- $3,750 if the critical minerals used in the battery meet federal sourcing guidelines.
Your Ford EV must meet both conditions to qualify for the full $7,500 credit. Meeting only one part may result in a partial credit.
What Vehicle Requirements Must Your Ford EV Meet to Qualify for the Federal Tax Credit?
To be eligible for the credit, your Ford EV must:
- Must be new at time of purchase
- Have a battery capacity of at least 7 kilowatt-hours
- Be assembled in North America
- Fall under MSRP limits: $80,000 or less for SUVs, trucks, and vans; $55,000 or less for other vehicle types
- Be manufactured by a qualified automaker
Additionally, the sale must be reported to the IRS, and income limits for buyers apply.
Why Is Timing Important for Ford EV Buyers in Surprise, AZ?
Both the vehicle and charger incentives are set to expire soon. The Clean Vehicle Credit is only available through September 30, 2025, and the charger credit ends June 30, 2026. Once these programs expire, they may not return. If you're thinking about making the switch, now is the best time to act.
How Can Surprise Ford Help You Navigate Federal EV Tax Credits and Incentives?
Our team at Surprise Ford in Surprise, AZ, is ready to help you understand eligibility requirements and select Ford EVs that qualify. We’ll assist with the paperwork and guide you through every step of the buying process.
Ready to Explore Ford EVs and Federal Incentives at Surprise Ford?
Contact us today to learn how to maximize your savings before these programs expire.