Federal Tax Credits for Electric and Hybrid Toyota Models

Driving an electric or hybrid vehicle helps the environment by producing little to no emissions, with a thrilling instant torque driving experience. Driving an EV or hybrid also helps your wallet! When purchasing a new Toyota electric vehicle or Toyota plug-in hybrid, you may be eligible for a federal income tax credit! New all-electric and plug-in hybrid cars purchased in or after 2010 may be eligible for a federal income tax credit of up to $7,500. Depending on your vehicle’s battery power, the credit amount will vary. On top of that, state and/or local incentives may also be applied. Read on to find more about the vehicles that qualify for these tax credits.

Toyota Prius & Prius Prime Plug-in Hybrid Tax Credits

The ever-popular Toyota Prius, which has been a staple vehicle in the Toyota lineup for over 20 years, has also spawned plug-in variants for electric driving. Toyota Prius Plug-in Hybrid models between the 2012 – 2015 model years qualify for up to $2,500 in federal tax credits. Introduced in 2017 was the redesigned Prius Plug-in Hybrid, dubbed the Prius Prime. Toyota Prius Prime Plug-in Hybrid models between the 2017 – 2022 model years qualify for tax credits up to $4,502. Giving you the power to drive in either EV or hybrid modes, Prius/Prius Prime plug-in hybrid models save you cash, while also saving the environment!

Toyota RAV4 EV & RAV4 Prime Plug-In Hybrid Tax Credits

The Toyota RAV4 SUV has been a best-selling SUV for Toyota for years, providing Concord drivers with a dependable family vehicle ready to tackle any adventures you throw its way. Toyota RAV4 models can also be equipped with plug-in hybrid powertrains, providing Concord drivers with an eligible federal tax credit as well! Both the Toyota RAV4 Prime Plug-in Hybrid (2021 – 2022) and the RAV4 EV (2012 – 2014) are eligible for tax credits up to $7,500!

Toyota Plug-in Hybrids for sale in Concord, NC

Shopping for an EV or hybrid Toyota has never been easier, Hendrick Toyota Concord carries a rotating selection of hybrid models, like the RAV4 Hybrid, so make sure to check out our options. If electric or hybrid just isn’t your style, we have a wide range of new Toyota cars, trucks & SUVs available! If you have any other questions regarding federal tax credits or plug-in vehicles, feel free to send us a message. Stop by our dealership and check out some of our fantastic Toyota cars and SUVs eligible for a tax credit today!