How to Get up to $7,500 off Your Next Ford, Including the New Mach-E | MotorBiscuit

You’ve bought that all-electric or plug-in hybrid vehicle. Maybe you got one because it’s green. But the good news is that it could help put some green back in your pocket. That’s because a tax credit is available. The federal government creates these EV tax credits as incentives to get more consumers to buy electric vehicles. Not every electric vehicle is eligible, but the new 2021 Ford Mustang Mach-E is on the list.

The federal tax credit for electric and plug-in hybrid vehicles

2021 Ford Mustang Mach-E GT | Ford Motor Company

A tax credit is available and covers qualified plug-in hybrid vehicles (PHEVs) and all-electric vehicles (EVs), including passenger vehicles and light trucks. The credit is for up to $7,500. It applies to EVs and PHEVs purchased after December 31, 2009, and placed in service in or after 2010. The credit is only for vehicles purchased new (not leased) and mainly used in the United States.

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