Clean Vehicle tax credit may reduce the cost of a new or used car

Taxpayers in the market for a new or used “clean” vehicle may save money up front, beginning in 2024. Those who qualify for tax credits for the purchase of a clean vehicle may be able to transfer the tax credits to an eligible dealer. In exchange, they can receive a financial benefit equal to the credit amount in cash or as a partial payment or down payment on the purchase. To be eligible by Jan. 1, a dealer or seller should have registered with the IRS by Dec. 1, 2023. So, if you pursue this benefit, be sure to verify that the dealer or seller is eligible. To see if you qualify for clean vehicle tax credits and learn more about transferring credits, click here: https://bit.ly/3uM50AlC