In California, for example, people who buy or lease a new electric car such as the Chevrolet Bolt, Hyundai Ioniq Electric or Nissan Leaf can get a 2,500 cash rebate.
And at the start of 2012, Congress also let die a federal credit of up to 2,500 for four-wheel, low-speed neighborhood electric vehicles (NEVs which are limited to a top speed of 25 mph.
The Nissan leaf gets the equivalent of about 129 miles per gallon in the city.
Map that shows current plug-in car incentives in each state.If I did, I doubt if Id be in the market for a new car electric or otherwise.Nissan Leaf or other eligible vehicle and you owe 5,000 in income tax for a particular year.Plug-in and battery electric vehicles must be built by qualified manufacturers in order to qualify for the full 7,500 credit.It is doing so on the theory that the high initial cost of adding all that new technology to a vehicle will come down as economies of scale improve with increased sales.Some credits come in the form of exemptions from fees and inspections.Jerry cheap fishing gear online Garrett, may 13, 2010, advertisements.
GM also may max out in 2018 or 2019 if sales of the Bolt and Volt continue on their current pace.
How Much Is the Credit?For some models, the maximum can fall well below 7,500.That's in addition to the federal tax credit and reduces the out-of-pocket cost of the car by as much as 10,000.You'll often hear that a credit is worth "up to" a certain amount.A 10 percent credit (up to a maximum of 4,000) for the cost of converting conventional hst rebate application form gas vehicles, diesel vehicles or conventional hybrids to plug-in hybrid or all-electric powertrains expired at the start of 2012.