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Is there an income cap on electric car rebates?
My wife and I are hoping to trade in our old gas car and purchase a second electric car, but we were wondering if we can still apply for an EV rebate. She bought her car when we were dating, but now since we’re married is there an income cap on electric car rebates?
Marlee John · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Yes, there is an income cap on vehicle rebate programs but you may have to check the exact limit in your specific region.
The
Clean Vehicle Rebate program
based out of California, lists on their website some of the recent changes to the income caps. The following information is specific to the California guidelines and the exact values may not apply in other states.
Before February 24, 2022, there was a cap of $150,000 for singles, $204,000 for head-of-household, and $300,000 for joint filers. On and after that same date, the limits have lowered: $135,000 for single filers, $175,000 for head-of-household, and $200,000 for joint filers. If you and your wife both have a total annual income below $200,000 then you are still eligible to apply for the rebates.
If an individual is over this limit, they may still apply for the
Federal Tax credit
which is not a tax rebate program. This program is based on the number of cars a manufacturer has sold and not on the buyer’s income. If you want to find great savings on your insurance, let
Jerry
help. With Jerry, you can find the best deals for the best rates for you. View full answer
- Gregory R.
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