Urban Motors in Denver, Colorado, is eager to explain the IRS Used Clean Vehicle Credit to you!  If you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit.  The credit equals 30% of the sale price up to a maximum credit of $4,000. 

Who qualifies for this credit?

-         Be an individual who bought the vehicle for use and not for resale

-         Not be the original owner

-         Not have claimed another used clean vehicle credit in the 3 years before the purchase date

-         $150,000 for married filing jointly or a surviving spouse

-         $112,500 for heads of households

-         $75,000 for all other filers

-         Not be claimed as a dependent on another person's tax return

Which EVs qualify?

-         Have a sale price of $25,000 or less. Sale price includes all dealer-imposed costs or fees not required by law. It doesn't include costs or fees required by law, such as taxes or title and registration fees

-         Have a model year at least 2 years earlier than the calendar year when you buy it. For example, a vehicle purchased in 2023 would need a model year of 2021 or older

-         Not have already been transferred after August 16, 2022 to a qualified buyer

-         Be for use primarily in the United States

-         Have a gross vehicle weight rating of less than 14,000 pounds

-         Be an eligible FCV or plug-in EV with a battery capacity of least 7 kilowatt hours

Buy Your Next EV From Urban Motors in Colorado

At Urban Motors, we are known for our amazing selection of rugged vehicles for your Rocky Mountain adventures.  But did you know we also stock an excellent selection of vehicles perfect for your everyday commute, including electric vehicles?  Be sure to stop in and save big on your next EV vehicle at any of our Denver area stores!