Do Used Electric Cars Qualify For Tax Credit. The credit amount will vary based on the capacity of the battery used to power the vehicle. If you end up leasing experts recommend you try to negotiate lower lease payments because the leasing company will.
The original use of the vehicle must commence with the taxpayer. General Motors became the second manufacturer to hit this milestone in the final financial quarter of 2018. Manufacturers often advertise it as a discount on the cars price but it isnt.
14 hours agoGary Guthrie Reporter.
The exact credit amount is determined based on the capacity of the battery used to power the vehicle. Taxpayers who purchase used electric cars are not eligible for the tax credit nor are taxpayers who lease a qualifying car. The exceptions are Tesla and General Motors whose tax credits have been phased out. From April 2019 qualifying vehicles are only worth 3750 in tax credits.
