New Credit Rules Could Mean Paying Less for a Clean Vehicle in 2024

As of January 1, 2024, buyers of electric (EV), plug-in hybrid (PHEV), and fuel-cell vehicles can transfer the Clean Vehicle Credit to dealerships at the time of purchase for an immediate discount. The credit is worth up to $7,500 for new vehicles and $4,000 for used vehicles, but eligibility depends on income limits and vehicle qualifications. Check eligible vehicles here: FuelEconomy.gov.