New Federal Tax Credits Pay You Thousands to Purchase A New Electric Vehicle

Ford Electric Vehicles

This is a super secret, double-ought-spy bit of information so you want to act fast before the federal government gets its act together and cuts off the faucet to the magic money fountain.

The politicians are still arguing over loopholes and stipulations. Who knows how things are going to turn out or when the rules are going to change, but as of today, the federal government is offering federal tax credits of up to $7,500 bucks on qualifying new Ford electric vehicles and plug-in hybrids at Gary Crossley Ford.

The Inflation Reduction Act of 2022

It’s all part of the huge Inflation Reduction Act of 2022 that passed last summer.

We called our old econ professor and asked her what tax credits for electric vehicles had to do with reducing inflation. She didn’t have any more of an idea than we did.

She did explain, however, why every time we got to the supermarket, toilet paper prices keep getting larger and toilet paper rolls keep getting shorter. Some people are being forced to switch to single-ply. SINGLE-PLY! Nobody should have to live like that. Maybe the Inflation Reduction Act of 2023 will tackle that conundrum.

Until then, maybe $7,500 in tax credits can help offset the rising cost of a clean behind.

ford escape plug-in hybrid

Which Ford models qualify for the new electric vehicle tax credit?

That’s a pretty simple question, right? The first thing most reasonable people would probably ask.

The answer it turns out is anything but simple. Like all federal regulations, the devil is in the details and the details, in this case, could take a thousand lawyers a thousand years to explain… cause lawyers charge by the hour, yo!

The gist of the federal requirements for receiving the Federal EV Tax Credit is that the vehicle be genuine American-made twisted steel and sex appeal which is good for Gary Crossley Ford customers because we specialize in genuine American-made twisted steel and sex appeal

As the regulations stand today, these are the vehicles at Gary Crossley Ford that may qualify for the $7,500 tax credit:

ford mustang mach-e

Experience the Crossley Difference - It’s Electric

Here’s the thing though, the politicians, the lobbyist, and all the powers that be are still arguing over battery composition, rare-earth minerals, and international trade policy. Mmmmm, sounds like a hopping Friday night… in purgatory.

They were supposed to announce an agreement before the end of the year, but circus monkeys are gonna be circus monkeys, and the deadline passed. 

That means that right now, you can still get the entire $7,500 bucks tax credit on the Escape Plug-In Hybrid, Lightning, E-Transit, and Mach-E at Gary Crossley Ford. 

That amount could be cut in half when the final stipulations are released so if you’re thinking about going electric this year. It’s time to get plugged in before the juice gets cut off.

Whatever the requirements end up looking like, the team at Gary Crossley Ford can help you get your new EV or Plug-In Hybrid and make sure you get every penny that’s coming to you from Uncle Sam. We’ve even got tax credits on used EVs with even more loopholes and stipulations that even more lawyers thought up.

If you’re ready to ride, though,  we’re ready to help you cut through the red tape.



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