Beginning January 1, 2023, if you purchase a qualified used electric vehicle (EV), plug-in hybrid (PHEV) or fuel cell vehicle (FCV) from a licensed dealership for $25,000 or less, you may be eligible for a used clean vehicle tax credit!
Learn How the Used Clean Vehicle Tax Credit Works
Learn How the Used Clean Vehicle Tax Credit Works
Select an Eligible Used EV
Eligible vehicles are EVs or PHEVs and the model year is at least two years older than 2024. Sale price is $25,000 or less.
Visit Cadillac of Portland
Contact or visit Cadillac of Portland to review your selected vehicle, verify it qualifies and schedule test drive.
Receive Your Tax Credit
If you have met all the requirements for your used electric vehicle or plug-in hybrid, you could receive up to a $4,000 credit on your purchase or tax credit to file later!
Used Clean Vehicle Tax Credit in PORTLAND, OR
Cadillac of Portland is participating in the Used Clean Vehicle Credit program; a federal electric electric vehicle time-of-sale tax credit program for eligible customers.
Receiving your Used Clean Vehicle Credit is easy. Cadillac of Portland can include the credit in the sales transaction when you purchase your used Battery Electric (BEV) or Plug-In Hybrid (PHEV) vehicle with a sale price under $25,000 and two years older than the current year (2024). The credit is offered at 30% if the vehicle sale price, up to a maximum of $4,000.
During the sales process, you'll have the option to transferring the credit to the dealer for a discount on the final sale price. If you choose to not apply it as a discount you may claim the credit when you file your tax return with Form 8936. Further details about the steps in the purchase of a used EV for the Used Clean Vehicle Credit can be found here.
Receiving your Used Clean Vehicle Credit is easy. Cadillac of Portland can include the credit in the sales transaction when you purchase your used Battery Electric (BEV) or Plug-In Hybrid (PHEV) vehicle with a sale price under $25,000 and two years older than the current year (2024). The credit is offered at 30% if the vehicle sale price, up to a maximum of $4,000.
During the sales process, you'll have the option to transferring the credit to the dealer for a discount on the final sale price. If you choose to not apply it as a discount you may claim the credit when you file your tax return with Form 8936. Further details about the steps in the purchase of a used EV for the Used Clean Vehicle Credit can be found here.
Qualifications for the Used Clean Vehicle Credit
Who Qualifies for the Used Clean Vehicle Credit
- Be an individual who bought the vehicle for use and not for resale.
- Not be the original vehicle owner.
- Not be able to be claimed as a dependent on another person's tax return.
- Not have claimed another used clean vehicle credit in the 3 years before the purchase date.
- In addition, your modified adjusted gross income (AGI) may not exceed:
- $150,000 for married filing jointly or a surviving spouse
- $112,500 for heads of households
- $75,000 for all other filers
What Qualifies for the Used Clean Vehicle Credit
For a vehicle to qualify it must be on the list of applicable vehicles and in addition must meet the following requirements:
- 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.
- Be an eligible FCV or plug-in EV with a battery capacity of least 7 kilowatt hours
- 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 for use primarily in the United States
Learn More About the Used Clean Vehicle Credit:
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Cadillac of Portland
9141 SW CANYON ROAD
PORTLAND
OR
97225-3518
US