Switching to a Honda electric vehicle at our Honda dealership near Medford provides numerous benefits, not the least of which are the significant financial incentives. From federal tax credits to Massachusetts state rebates, Herb Chambers Honda of Burlington is dedicated to helping you maximize your savings.
Our experts can guide you through every step, ensuring you receive the maximum benefits. Use our EV tax calculator and see what kind of savings you can enjoy when you switch to an electric car at our nearby Honda dealer!
How Much Can I Save on a New EV?
Our new electric vehicles nearby offer substantial financial rewards beyond fuel savings. One of the best perks is the clean vehicle tax credit of up to $7,500 with the purchase of an eligible plug-in hybrid or electric vehicle.1 This federal tax credit is designed to make owning an EV more accessible and affordable. However, be mindful of the following MSRP limitations to qualify:
- MSRP can't exceed $80,000 for vans, SUVs and trucks
- MSRP can't exceed $55,000 for all other new vehicles
In addition to federal credits, Massachusetts residents can enjoy the MOR-EV Massachusetts state EV rebate, which can total up to $6,000.1 This rebate further reduces the upfront cost of investing in a clean vehicle. You have two convenient ways to receive this rebate:
- Option 1: Receive your rebate at our dealership when you purchase or lease.
- Option 2: Apply online for this rebate within 90 days post purchase or lease.
Are There Tax Rebates on Used Electric Vehicles?
Yes! Pre-owned electric Honda models and other used EVs are eligible for tax rebates. These used EVs are eligible for a federal tax credit of up to $4,000 when fully qualified.1 This provides a financial incentive to consider a pre-owned EV, making it even more affordable to drive an eco-friendly vehicle.
Additionally, the MOR-EV rebate is also applicable to eligible used electric cars, expanding your savings potential even further. Whether you're buying new or pre-owned, these rebates can help you save when you're looking to buy an electric car, encouraging sustainable choices without compromising your budget.
How to Claim Electric Car Tax Incentives in MA
To learn more about potential electric car tax rebates in Massachusetts and how much you can save, call or click to talk with Herb Chambers Honda of Burlington. Our team of experts is here to guide you through the process, from understanding eligibility requirements to claiming your tax credits and rebates.
If you’re ready to explore the potential savings on a new Honda EV, connect with Herb Chambers Honda of Burlington today. Our knowledgeable team is here to help you understand all available incentives and assist you every step of the way. Come visit us and take a step toward a more eco-friendly and cost-efficient driving experience!
Learn More: Honda Buy Center | First-Time Car Buyer Guide
1 Information accurate at time of publication. See dealer for complete details.
