What Federal EV Incentives Are Available at Kenny Kent Toyota?
Right now, federal tax credits can reduce the cost of buying an electric Toyota. The Clean Vehicle Credit provides up to $7,500 toward eligible vehicles. There’s also a credit for installing a home EV charger—but both programs are ending soon. The charger credit expires after June 30, 2026, and the EV tax credit is set to end on September 30, 2025, unless extended. If you're thinking about going electric, don’t wait.
How Much Can You Save with These Credits?
The Clean Vehicle Credit is split into two parts:
- $3,750 for meeting battery component rules
- $3,750 for meeting critical mineral requirements
You must meet both to receive the full $7,500. Some Toyota models may only qualify for a partial amount, depending on sourcing and manufacturing.
What Does Your Toyota EV Need to Qualify?
To be eligible for the Clean Vehicle Credit:
- The vehicle must be brand new at purchase
- It needs a battery of at least 7 kWh
- Final assembly must happen in North America
- It must be from a qualified manufacturer
Price limits apply as well:
- $80,000 MSRP cap for SUVs, trucks, and vans
- $55,000 MSRP cap for all other vehicles
Buyers must also meet income requirements, and the dealership must report the sale properly to the IRS for the credit to be applied.
What Happens If You Wait?
These programs are set to expire soon. The EV credit ends September 30, 2025, and the home charger credit ends June 30, 2026. With no guarantee of renewal, buyers who delay may miss out.
How Can Kenny Kent Toyota in Evansville Help?
Our team is here to guide you through available Toyota EVs, confirm eligibility, and walk you through the credit process. Whether you're looking for an efficient daily driver or a family-ready SUV, we’ll help you take full advantage of the incentives before time runs out.
Have Questions About EV Tax Credits?
Contact Kenny Kent Toyota in Evansville, IN today. We’ll help you understand your options and make your EV purchase easier—and potentially more affordable.
