All aboard the EV train! If you are looking for a good deal on an electric vehicle, Consumer Reports has some tips. To get the best deal, potential buyers can use the Electric Vehicle Savings Finder, expert ratings, and federal tax credit list. These are some of the ways to get the best electric vehicle incentives in 2022.
Consumer Reports has a new Electric Vehicle Savings Finder tool
Consumer Reports wants to help you find a good deal regarding electric vehicle incentives. A new tool called the Electric Vehicle Savings Finder helps locate potential EV incentives and tax credits. Using this tool, you can find specific discounts in your area that might make switching to an EV more affordable.
Consumer Reports and ZappyRide have partnered on this venture. Likewise, if buyers can find extra savings in areas that people might not know before, the EV switch might be easier. For instance, some states offer rebates that buyers can use in conjunction with the federal tax credit. This helps bring the price down even more.
One such example is the state of New York. Residents can utilize a rebate of $2,000 for the lease or purchase of an EV. In addition, the primary electric provider, ConEd, offers another $1,000 in rebates for those who charge during off-peak hours.
Consumer Reports has more info to get you a good deal on an electric vehicle
Consumer Reports has other car buying tools, too. You can search for electric vehicle reliability ratings, the type of EV, and within your budget. Plus, there are safety scores from the National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS).
Most EV offerings will get the designated “green choice” pick. Beyond that, there is also the coveted “recommended” label and above-average scores on other parts of the evaluation.
According to an article by The Zebra, the states of Colorado and Connecticut have the best rebate of $5,000. After that, Delaware ($3,500), Maryland ($3,000), and California ($2,500) follow. Massachusetts, Oregon, and New York offer rebates between $2,500 and $2,000.
Don’t forget the federal tax rebates
A new year means new rebates! The U.S. Department of Energy has a new list of federal tax credits for new all-electric and plug-in hybrid vehicles. There are more than 30 new EVs for 2022 on the list, making some of these a good deal. BMW has a few options, including the 2022 i4 eDrive40 Gran Coupe, i4 M50 Gran Coupe, and the 2022 iX xDrive50 qualify for the full $7,500.
Similarly, the 2021–22 Ford Mustang Mach-E Premium (AWD, RWD), Mustang Mach-E Select (AWD, RWD), and the Mustang Mach-E GT electric vehicles also qualify for the full $7,500 rebate.
In conclusion, it might take a little more time upfront, but buyers should be able to get a good deal. Don’t forget local rebates for installing a home charger, too.