How to get a refund of up to $7,500 when buying a new car?

There’s no other way to look at it, people who buy electric cars are helping out the environment by decreasing their carbon footprint. The United States government is helping people who have decided to go electric by offering a shocking rebate of between $1,000 and $7,500. These rebates are also encouraging people who don’t have electric cars to go ahead and buy one. The state of California decided to boost this rebate in order to help people with low to moderate incomes buy electric vehicles (EVs). Prices on many different types of electric vehicles have been steadily decreasing over the years, with even Tesla decided to slash prices in order to maintain their high revenue stream. Competition amongst different companies will only get higher and more fierce with the United States government making these decisions to get a rebate. Drivers can get a rebate between $1,000 and $7,500 that will help them pay for the full cost of the car.

Which EVs qualify for this rebate?

There were some EVs that didn’t qualify for this rebate because they were considered luxurious but that changed with Tesla’s recent slash in prices. In a recent report, the Tesla Model 3 and the Model Y were the latest additions to this rebate. These funds are coming from the California Clean Vehicle Rebate Project (CVRP). In order to find out how much you can claim, you must live in the state of California and you must have a low to moderate income. The standard amounts that you can claim will increase on February 28 from $4,500 to $7,500 for a hydrogen fuel cell vehicle, $2,000 to $4,500 for a battery-electric vehicle, and $1,000 to $6,500 for a plug-in hybrid for low to moderate income households. Income standard thresholds for the CVRP are $135,000 for single tax filers, $175,000 for head of household, and $200,000 for joint filers. If you want to be considered for the increase group, your income cannot go over 400% of the federal poverty level.