Federal EV Tax Credits at Martin Chevrolet
The countdown is on to claim your federal electric vehicle tax credit. With the Clean Vehicle Tax Credit expiring on September 30, 2025, it is more important than ever to explore our new Chevy electric vehicles and secure your tax savings.1 Once these incentives are gone, they're gone, so find your new EV at Martin Chevrolet before the deadline arrives.
The team at our Chevy dealership near Splendora is here to help you select an electric vehicle that not only fits your lifestyle but also lets you maximize the remaining federal tax credits. With our huge selection, experience and transparent approach, we can guide you through incentives before they expire!
When Does the Federal EV Tax Credit Expire?
The federal EV tax credit program will officially end on September 30, 2025.1 This means eligible customers who finalize their purchase before this date can subtract up to $7,500 from their tax liability, depending on the model and their personal situation.
After this cutoff, the federal Clean Vehicle Tax Credit will no longer be available, so prompt action is essential. Make sure you complete a qualifying purchase of one of our new Chevy electric vehicles in Cleveland before the end of September!
Which Chevy EVs Qualify for Tax Credits?
A variety of Chevy electric SUVs still qualify for the federal tax credit through September 2025.1 As of now, the following models typically meet eligibility criteria for the full or partial $7,500 incentive, provided all other requirements are met:
Chevy Blazer EV
- Year(s): 2025-2026
- Vehicle Type: EV
- Credit Amount: $7,500
- MSRP Limit: $80,000
Chevy Equinox EV
- Year(s): 2025-2026
- Vehicle Type: EV
- Credit Amount: $7,500
- MSRP Limit: $80,000
Chevy Silverado EV
- Year(s): 2025-2026
- Vehicle Type: EV
- Credit Amount: $7,500
- MSRP Limit: $80,000
Who Qualifies for the Federal EV Tax Incentive?
To get the full benefit of the federal Clean Vehicle Tax Credit:
- You must buy the vehicle for your own use, not for resale.
- It must be used primarily in the U.S.
- Your modified adjusted gross income (AGI) may not exceed:
- $300,000 for married couples filing jointly
- $225,000 for heads of households
- $150,000 for all other filers
- Qualifying vehicles must:
- Have a battery capacity of at least 7 kilowatt hours.
- Have a gross vehicle weight rating of less than 14,000 pounds.
- Be made by a qualified manufacturer.
- The vehicle must undergo final assembly in North America.
- The vehicle's manufacturer suggested retail price (MSRP) can't exceed $80,000 for vans, sport utility vehicles and pickup trucks or $55,000 for other vehicles.
What's the Auto Loan Interest Tax Deduction?
In addition to the EV tax credit, a new federal auto loan interest tax deduction could further lower your ownership costs. Qualified buyers can deduct up to $10,000 per year in interest payments on eligible auto loans for new vehicles assembled in the United States.1
This deduction runs through December 31, 2028, giving you another potential financial benefit.1 Apply for Chevy financing to see if your EV purchase qualifies and whether you meet all income and purchase requirements.
Buy or Lease a New Chevy EV Near Me
The window to benefit from the federal electric vehicle tax credit and auto loan deduction is closing. Contact Martin Chevrolet in Splendora as soon as possible to review your options, confirm vehicle eligibility and claim your qualifying Chevy EV.
Do not delay -- schedule a test-drive, discuss incentives in detail and lock in your tax credit before these federal programs reach their end!
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1 Information listed here is accurate at time of publishing. We encourage you to speak with a tax professional.