Do Used EVs Qualify for the EV Tax Credit?

It’s no secret that the electric vehicle revolution is in full swing. If you’re ready to join in and start enjoying a more efficient, eco-friendly driving experience on the roads of the Dulles Airport region and throughout the DC Metro Area, MINI of Sterling has a new or pre-owned EV that will check every box on your wishlist. But it’s not uncommon to have some questions, especially if you’re new to the EV lifestyle, chief among them: Do used EVs qualify for the EV tax credit? We answer this question in detail below to ensure you make the right buying decisions for your needs and lifestyle.

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Do Used EVs Qualify For an EV Tax Credit?

Let’s begin with the most important question: Do used EVs qualify for any EV tax credits at the federal level? The answer is yes! The Clean Vehicle Credit has established certain criteria that a vehicle must meet in order to qualify for the used EV tax credit:

You must purchase the EV from a dealership.
It must have a sale price of $25,000 or less.
The model year must be within two years of the current year.

On top of vehicle qualifications, buyers must also satisfy certain eligibility requirements. You can take advantage of a used EV tax credit if your income does not exceed these thresholds:

$150,000 for married filing jointly or a surviving spouse
$112,500 for heads of households
$75,000 for all other filers

Also, keep in mind that used EVs purchased before 2023 are not eligible for the Clean Vehicle Credit.

How Much is the Used EV Tax Credit?

If the above conditions are met, you may be able to claim a used EV tax credit equal to 30% percent of the sale price, up to a maximum credit of $4,000.

Experience a Used EV in Sterling Today

As you can see, significant savings opportunities abound with the used EV tax credit. Find your next EV online at MINI of Sterling, then drop by for a test drive or contact us for an appointment. In the meantime, learn more about EVs so you’re prepared to hit the ground running with your next electric vehicle. Come see why our EVs are the vehicles of choice for eco-conscious drivers from Loudoun County and beyond.