When you drive an electric, hybrid, or plug-in vehicle, you may already be aware that you're creating a positive impact on the environment by reducing tailpipe emissions and ultimately creating cleaner air. What you may not know is that driving an electric vehicle may allow you to become eligible for certain tax credits. Both electric vehicles and plug-in hybrid electric vehicles from Ford with MSRPs of $80,000 or less are currently eligible for federal tax credits. Not every customer may qualify. We strongly encourage you to consult with your own tax or legal professional to determine your individual eligibility for Ford's electric vehicle tax credits via the Clean Vehicle Credit. It is important to keep in mind that the tax credit amount is based on vehicle-specific component sourcing and assembly and is subject to change. The MSRP cap covers all optional equipment attached to the vehicle at the time of delivery to the dealer and does not include destination charges, optional items added by the dealer, and taxes and fees. The federal tax credit is to be thought of as potential tax savings, and the amount of your savings will depend fully on your individual tax circumstances. Any incentives and additional rebates are not within Ford's control. Please note the aforementioned information does not constitute tax or legal advice.
More About Potential Tax Credits
Your potential tax credits will depend largely on when your vehicle was purchased. In general, your tax credits will be up to $7,500 depending on when you purchased your Ford EV or PHEV in or after 2023, or before said year. You must also meet certain income limit requirements to be eligible for Ford's tax credits.
Other Benefits of Electric Vehicles
As more and more drivers go the electric, hybrid, or plug-in hybrid electric vehicle route, you may want to enjoy the benefits of the future of driving and better understand the benefits of electric vehicles. Besides the notable tax credits, perhaps one of the biggest advantages to driving electric is creating overall cleaner air quality by reducing the number of pollutants, including tailpipe emissions. Another major advantage of driving electric is that you no longer have to spend time or money at the fuel pump, which can save you a ton of money since you're relying on electricity rather than gasoline. You'll also save time and money with less maintenance required, since electric vehicles run on a highly reliable electric motor, and have fewer parts in general than traditional gasoline or diesel-fueled vehicles. Electric vehicles also offer better performance, since they are more lightweight and offer better acceleration and overall power.
Explore Mustang Mach-E
Ford's Mustang Mach-E is one of the electric vehicles currently eligible for tax credits. It is a fully electric SUV with seating up to 5, allows for hands-free driving with Ford BlueCruise, and even the choice of ambiance for a truly customizable ride. The Mach-E provides exhilarating performance with the ability to go from 0-60 in just 3.5 seconds, and a 480-horsepower engine. You're sure to get quite the electric thrill ride in the Mach-E!
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Explore F-150 Lightning
Another one of Ford's electric vehicles eligible for tax credits is the F-150 Lightning all-electric truck. This powerful vehicle even acts as a backup generator when your home loses power, thanks to Ford Intelligent Backup Power. The F-150 Lightning offers incredible towing capabilities and is designed to handle all of the elements set forth by off-road adventures. You can even get your work done anywhere you want thanks to the interior work surface that can hold your laptop or tablet. The extended-range battery offers a whopping 580 horsepower, and acceleration is truly at lightning speed.
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Finance and Trade Near South Bend, IN
At Jordan Ford, if you need financing for your electric vehicle purchase, we guarantee to help you get great options that will not stop you from driving home in the EV you want. Our experienced team of financing professionals will help you secure the best rates, and we make it simple to get started with our online application for financing. We have a goal of making the financing process as hassle-free as possible, and with complete transparency at all times, that's part of the Jordan Way!
Trading in your vehicle with us for a brand-new Ford EV is a straightforward way to help you make room in your driveway and get an instant cash offer, which can be put toward your purchase. Our Kelley Blue Book Instant Cash Offer tool takes only a short amount of time of complete, and you'll immediately get an offer valid for a full week. We will then verify your vehicle's information with the same questions you answered online. From there, you can use your offer as part of the payment for your new Ford electric vehicle. Changed your mind about trading in? You can still take the cash! No matter what you decide, you're guaranteed the best customer satisfaction, because we value you and your time! Now is the time to enjoy vehicle shopping The Jordan Way!
