What Should You Know About the Federal EV Tax Credit at Toyota of Deerfield Beach?
Buying a Toyota EV is a smart move—and right now, it can come with up to $7,500 in federal tax savings. The Clean Vehicle Credit helps reduce your upfront cost when you purchase an eligible EV from a participating dealer like Toyota of Deerfield Beach. Our team is here to walk you through how the credit works and whether you qualify.
How Does the $7,500 EV Tax Credit Work at the Time of Purchase?
This federal incentive lowers the cost of eligible electric vehicles right at the time of purchase—as long as you meet specific criteria. The credit is applied by the dealership and reported to the IRS, simplifying the process for you.
The total credit includes two components:
- $3,750 based on where battery minerals are sourced
- $3,750 based on battery component manufacturing standards
Some models only qualify for one portion of the credit, depending on their build specifications.
Which Toyota EVs Are Eligible for the Clean Vehicle Credit?
Not all Toyota EVs are eligible. To qualify, your vehicle must:
- Be brand new and sold by a registered dealer
- Include a battery of at least 7 kWh
- Be assembled in North America
- Be priced under $80,000 for SUVs, vans, and trucks or under $55,000 for all other vehicles
The seller must report the sale to the IRS, and the buyer must meet income guidelines to claim the credit.
When Will the EV and Home Charger Incentives Expire?
The Clean Vehicle Credit is scheduled to expire on September 30, 2025. There’s also a separate home charger tax credit, which ends June 30, 2026.
Once these programs expire, they may not return. That’s why now is the best time to take advantage.
How Can Toyota of Deerfield Beach Help You Take Advantage of EV Incentives?
We make it simple to go electric. Our team can:
- Identify qualifying Toyota EVs in our inventory
- Walk you through buyer eligibility requirements
- Handle all IRS reporting
- Review local or state-level EV incentives
Visit Toyota of Deerfield Beach or reach out to our EV team. We’ll help you find the right electric vehicle—and make sure you get every available credit while they’re still active.
