The Inflation Reduction Act signed by President Biden, offers a credit equal to 30% of the sale price (up to $4,000) for used EVs that meet certain criteria. To qualify for the credit, the used EV must have a sale price of $25,000 or less, have a model year at least 2 years earlier than the calendar year when you buy it, not have already been transferred after August 16, 2022, to a qualified buyer, have a gross vehicle weight rating of less than 14,000 pounds, be an eligible fuel cell vehicle or plug-in EV with a battery capacity of least 7 kilowatt hours (kWh) and be for use primarily in the United States. Here are all of the EVs that qualify.
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