EV programs at 712 Auto Sales
IRS Used Clean Vehicle Credit
Transparent Pricing with
Point-of-Sale Vehicle Credits
Our “No Hassle Price” displayed online does not include any IRS Used Clean Vehicle Credits or Vehicle Exchange Program credits. If eligible, these credits can be applied at the point of sale, reducing the final purchase price.
IRS Used Clean Vehicle Credit
Starting January 1, 2023, buyers of qualified used electric vehicles (EVs) or fuel cell vehicles (FCVs) priced at $25,000 or less may be eligible for a tax credit of 30% of the sale price, up to a maximum of $4,000. The credit can be transferred at the time of sale or applied when filing taxes. Non-transferred credits are nonrefundable and cannot exceed the taxes owed.
Eligibility for Buyers
To qualify, buyers must meet the following criteria:
Be an individual purchasing the vehicle for personal use, not resale
Not be the original owner or have claimed the credit in the past 3 years
Use their modified AGI from the purchase year or the year prior, whichever is lower
Meet income thresholds such as $150,000 for joint filers or surviving spouses, $112,500 for heads of households, or $75,000 for single filers
Eligible Vehicles
To qualify, a vehicle must:
Have a sale price of $25,000 or less (excluding taxes, title, and registration fees)
Be at least two model years older than the purchase year
Weigh under 14,000 pounds and have a battery capacity of at least 7 kilowatt hours
Be a qualifying FCV or plug-in EV primarily used in the U.S.
