State & Federal EV Tax Credit FAQs
As many local car shoppers may have heard, the federal EV tax credits are coming to an end. Currently, the EV tax credit expiration date is set for September 30th, 2025, meaning the window to take advantage of these federal incentives is quickly closing.
For those who want to lock in these valuable savings on their next electric vehicle, shopping at Evansville Ford is your smartest move. Our team is committed to helping you claim every available government incentive before they expire, and we're also here to help you learn more about new EV savings programs and incentives available at various levels of government.
If you've been considering a new electric Ford near Middleton, this is the perfect time to explore your options at our Wisconsin Ford dealership. Don't miss your chance to maximize your savings!
Your EV Tax Credit Questions, Answered
01
Are the federal EV tax credits expiring?
Yes. On September 30th, 2025, the federal EV tax credit will be expiring, so those interested in claiming savings under this program need to act now. After this deadline, new electric vehicles will no longer be eligible for federal tax incentives, which could increase purchasing costs for Middleton Ford fans.
02
Are local and state EV incentives affected by this?
No. Unless local legislation was passed saying otherwise, only the federal EV tax credit program has been discontinued. Whatever county and state electric car incentives were already available should still be an option for qualified buyers looking to save on their purchase of a new electric Ford in Wisconsin.
03
Are any new federal government incentives coming?
While not necessarily an incentive, a new tax rule has been announced that will allow qualifying buyers to deduct up to the first $10,000 paid in interest on new car loans. This new benefit is not exclusive to electric vehicles, so buyers of other new Ford trucks and SUVs may also be able to enjoy deducting their interest loan expenses.
04
How do I qualify for the new car loan interest deduction?
To qualify for this new deduction, you'll need to meet certain criteria. You must:
- Have a modified adjusted gross income below $100,000 for single filers, or $200,000 for joint filers.
- Purchase a new vehicle with a gross weight under 14,000 pounds.
- Buy a car assembled in the United States.
05
Are new Ford EVs eligible under the new rules?
Certain models likely will be, as many of the brand's electric options -- such as the highly popular F-150 Lightning -- are assembled proudly in the United States. We'll share more details with you when you visit, so you can plan your new Ford EV or gas purchase to take full advantage of the latest incentives.
Claim EV Tax Credit Savings Near Middleton!
As the deadline for federal EV tax credits nears, Middleton car shoppers should act fast to avoid missing thousands in potential savings. Contact Evansville Ford today to schedule your EV test-drive, discuss tax incentives and secure your savings before these opportunities disappear!
Read More:
