Maybe you’re considering an electric vehicle (EV) or hybrid Subaru model because you want to be more environmentally friendly, or spend less at the gas pumps. Or maybe there are other Subaru incentives that you have in mind.
There’s another advantage to going green – tax credits! Here’s what you need to know about the Subaru EV tax credit!
EVs and Tax Credit
There are a few key things to know about the tax credit you can get when you purchase an electric or plug-in hybrid Subaru vehicle.
- Electric and plug-in hybrid models qualify. The amount of the tax credit can vary, but any fully electric or plug-in hybrid model qualifies for the federal tax credit.
- You’ll get the credit at tax time. While you can get up to $7,500 in tax credit, you will have to wait until tax time to get your money. The credit is applied to the balance owed on your taxes, so whatever you would owe in taxes will be reduced by the amount of your credit.
- There are local incentives too. While the Federal tax credit is the most well-known, Maryland also offers tax credits for EV and plug-in hybrid models, so you can get added benefits when you choose one of these options. Maryland drivers can qualify for an excise tax credit of up to $3,000 when they purchase an EV or plug-in hybrid Subaru model.
Hybrid and Electric Subaru Models in Maryland
If you’re convinced by the environmental benefits, the cost saving, and the tax credits, you can check out our electric and hybrid Subaru models when you search “Subaru dealership near me.” Maryland drivers can learn more about EV and hybrid options and take a test drive here at Herb Gordon Subaru.
