What Should Lexus Buyers in Mesa Understand About the Federal EV Tax Credit and How It Can Benefit You?
The federal government offers a Clean Vehicle Credit that can reduce the cost of your new electric vehicle by up to $7,500. At Superstition Springs Lexus, we want to help you understand this valuable incentive and how it can apply to your next Lexus EV purchase.
To qualify, the vehicle must meet specific manufacturing and pricing criteria, and the sale must be reported properly.
How Is the $7,500 Federal EV Tax Credit Divided, and What Does It Mean for Your Lexus EV Purchase?
The total tax credit is split evenly into two parts:
- $3,750 is available if the battery components meet certain manufacturing and sourcing standards.
- $3,750 is granted if the critical minerals used in the battery comply with federal sourcing guidelines.
Your Lexus EV must meet both requirements to qualify for the full credit. Meeting only one results in a partial credit.
What Are the Vehicle Eligibility Requirements to Qualify for the Federal EV Tax Credit at Superstition Springs Lexus?
To receive the federal credit, your Lexus EV must:
- Must be new at time of purchase
- Have a battery capacity of at least 7 kilowatt-hours
- Be assembled in North America
- Fall under MSRP limits: $80,000 or less for SUVs, trucks, and vans; $55,000 or less for other vehicle types
- Be manufactured by a qualified automaker
Additionally, the sale must be reported to the IRS, and income limits for buyers apply.
Why Is Timing Important When Considering a Lexus EV Purchase at Superstition Springs Lexus?
The current federal EV tax credit program is scheduled to expire on September 30, 2025, unless extended by Congress. After that date, you won’t be able to apply the credit at the point of sale and will need to claim it on your tax return instead.
Additionally, the tax credit for home EV charger installation expires earlier, on June 30, 2026. Acting now helps you make the most of these savings opportunities.
How Can Superstition Springs Lexus Help You Navigate Federal EV Tax Incentives?
Our team at Superstition Springs Lexus in Mesa, AZ, is ready to guide you through the eligibility process and assist you in selecting Lexus EV models that qualify for federal credits.
We’ll also support you through the paperwork and make sure you understand all important deadlines.
Ready to Take Advantage of Federal EV Tax Credits at Superstition Springs Lexus?
Contact us today to learn more about qualifying Lexus EVs and how to maximize your savings before these incentives expire.