Government Incentives for Chevy EVs
Chevy EVs come with incredible financial perks, especially in the form of federal and state incentives. You could qualify for a tax credit of up to $7,500, depending on the model and your circumstances. Additionally, state-level programs like rebates, reduced fees, and HOV lane access can further lower your costs. Don't forget to explore local programs to maximize your savings!
Which Chevy EVs Qualify for Tax Benefits?
Chevy offers a range of electric models that qualify for tax credits, including the Chevy Bolt EV and Bolt EUV. These eco-friendly vehicles are equipped with advanced features and are priced competitively, making them an excellent choice for anyone looking to make the switch to electric. Head to your nearest dealership to confirm the eligibility of your preferred Chevy EV.
Long-Term Cost Savings of Driving an EV
Beyond the initial incentives, Chevy EVs offer significant long-term savings. Electric vehicles have lower fueling costs compared to gas-powered cars, averaging just $0.03-$0.05 per mile for charging at home. Additionally, with fewer moving parts, maintenance costs are drastically reduced—no more oil changes or expensive engine repairs!
Over the lifespan of your vehicle, these savings can add up to thousands of dollars, making EV ownership a financially smart decision.
How to Claim EV Incentives
Claiming your Chevy EV incentives is simple. To claim the federal tax credit, you’ll need to file IRS Form 8936 during tax season. State-level incentives can differ, but you may need to submit proof of purchase or lease to the appropriate state agency. Your Chevy dealer can help ensure you receive all the credits you’re entitled to.
