The Best Used EVs to Get the $4000 Federal EV Tax Credit In 2024
With environmental concerns at the forefront, more people are considering electric vehicles (EVs) as their next car purchase. The allure is clear: less dependence on fossil fuels, reduced greenhouse gas emissions, and lower operating costs. Moreover, to encourage EV adoption, the U.S. federal government is offering a $4,000 tax credit for used electric vehicles starting in 2024. This has potential EV buyers scouring the market for the best models that qualify for this incentive.
To secure the maximum benefit from the federal tax credit while still making a savvy economic choice,consider these best used EVs:
1. Chevrolet Bolt (2017-2021): The Bolt boasts a reliable range per charge and offers peppy acceleration and ample interior space despite its compact footprint. It’s an ideal choice for city dwellers looking for efficiency without sacrificing the comfort or tech features they crave.
2. Nissan Leaf (2018-2021): With its mid-decade redesign, the Nissan Leaf added significant range and updated technology. Its long-standing presence in the market means there’s an abundance of used Leafs, making it easier to find one at a competitive price that qualifies for the credit.
3. Tesla Model 3 Standard Range (2017-2021): As one of the best-selling EVs ever, Tesla’s Model 3 remains a desirable used vehicle thanks to its superior range, performance, and access to Tesla’s Supercharger network.
4. Hyundai Kona Electric (2019-2021): The Kona Electric has been praised for its range that punches above its class and its feature-rich interior. Its crossover style caters to those needing versatility coupled with efficient driving.
5. Kia Soul EV (2019-2021): Known for its quirky styling and roomy cabin for its size, the Soul EV provides a unique option with decent range and features that are user-friendly and accommodating of most tech desires.
When considering a used EV to take advantage of the federal tax credit in 2024, pay attention to the IRS guidelines regarding eligibility. Not all used EVs will qualify—for instance, there are rules around how old the vehicle can be and limitations on how much income buyers can earn to be eligible.
In summary, when looking for a great deal on a used electric vehicle while also capitalizing on governmental incentives like the $4,000 federal tax credit in 2024, keeping an eye on these models will put you in good stead. Be sure to check detailed requirements for any tax program as policies can change. Happy electric car hunting!