Clean Vehicle Tax Credit for Pre-Owned Electric and Plug-In Hybrid Cars in Glendale, CA

Did you know you might qualify for a $4,000 federal credit for your next car? This new incentive might come in clutch if you are currently in the market for a new ride. Here, at Future Auto Sales in Glendale, we have many vehicles that qualify for up to $4,000 off the sale price with the new Clean Vehicle Tax Credit. Even better, you can take advantage of the credit and put it towards your next car right away during the purchasing process at our dealership. But what is it exactly and how can I use it to buy a car? Keep on reading as we answer all these questions for you!

What is the Clean Vehicle Federal Tax Credit?

The rise of more fuel-efficient vehicles such as plug-in hybrids and electric cars has stirred up the automotive industry in the last couple of years. However, not everyone can afford one of these fancy Prius Primes or Tesla Model 3s. While tax rebates on new electric cars have been a thing throughout the previous years here in California, the government now goes a step further, offering consumers the opportunity to afford a pre-owned electric or hybrid car through a newly structured tax credit incentive.

The Federal Tax Credit for used electric and plug-in hybrid vehicles applies to cars that are two years or older and cost $25,000 or less. Additionally, consumers who seek to use the Clean Vehicle Tax Credit also must meet the following requirements:

• you are not the original owner of the car you want to purchase
• you are using the credit to buy a car to keep and not to resell
• you haven't been claimed as a dependent on someone else's tax return
• you haven't used a Clean Vehicle Tax Credit in the three years before the purchase date
• your modified gross adjusted income (AGI) is not more than $75,000 a year, ($150,000 for a married household filing taxed jointly, or $112,500 for head of households)

Which Cars Qualify for the $4,000 Clean Used Vehicle Tax Credit?

Most makes and models that rolled off the factory line two years or older and are electric, plug-in hybrid, or fuel-cell powered could qualify for the $4,000 Federal Tax Credit. But they also need to be priced at $25,000 or less at your local dealership. Here are the criteria based on the guidelines set by the U.S. Department of Energy:

• must be from a qualified manufacturer and sold by a licensed dealer
• must have a sale price of $25,000 or less
• must be a model year two years before the current calendar year
• must have not already been transferred after August 2022 to a qualified buyer
• must be for use primarily in the United States
• must weigh 14,000 pounds or less (gross vehicle weight)
• must have an eligible fuel cell or plug-in electric battery capacity of 7 kilowatt-hours or less

Where I Use The $4,000 Tax Credit To Buy a Car Today?

It is also important to note that the sale and credit only qualify when you purchase the car from a licensed dealer like Future Auto Sales. We are A+ rated by the Better Business Bureau and have helped clients many times to use the Clean Vehicle Tax Credit to get into their dream car. As the most successful independent dealership in Glendale on South Brand Boulevard, we are proud to have a 4.5-star rating on Yelp and Google with thousands of satisfied customers in our local community.

Put $4,000 towards your car purchase right away

Once you find the right car, the process of securing your $4,000 credit is a breeze. Our knowledgeable sales consultants will assist in filling out the IRS Climate Credit Energy online application with you and use the credit towards the purchasing price of your next car. That's right, since January 2024 you no longer have to wait for the credit to appear in your tax return refund. Simply receive the benefit of the credit at the time of sale while the dealership gets reimbursed by the IRS on the back end.

Ready to ride in style while saving money with a pre-owned plug-in hybrid or EV?

Future Auto Sales has plenty of vehicles available to utilize the credit. Our buying process is completely transparent with free CarFax and AutoCheck reports available for every listing so you know exactly what you are buying. Even better, all of our cars are inspected and serviced by our own AAA-approved and ASE-certified service center so you can drive with confidence and enjoy your new car without any hick-ups. Shop with Glendale's Nr.1 Independent Dealership today, call 818-240-0099 or visit us in person at 1711 South Brand Blvd. in Glendale California.

(Sources: U.S. Department of Energy, https://fueleconomy.gov/feg/taxused.shtml)