VW Is Helping Customers Go Electric – Even without Tax Credits

Trying to sort out the pros and cons of buying an electric vehicle has been a real head-scratcher lately. Tax credits, incentives, cost-benefit analyses…it can get really bewildering. We’re here to help.

California Is Still #1 for Electric Vehicles

In the decade between 2013 and 2023, California’s electric vehicle sales zoomed an astonishing 2,616% as Californians embraced clean air, lower maintenance and fuel costs. It also helped that both the federal and state governments offered tax credits and/or rebates to sweeten the deal.

Incentives for New EVs

Federal tax credits that incentivized electric vehicle adoption were complex, based on where vehicles were built and whether their batteries and other components were made in the USA. Not many EVs qualified, but even those that did will lose them on September 30th under the recently passed federal budget bill. The State of California offered some incentives, which also have gone away.

Fortunately, Volkswagen is stepping up to help with its own incentives on acquiring a new ID.4 or ID.Buzz:

• ID.4 Purchases: 0% APR for well-qualified customers for 72 months or a $5,000 Customer Bonus. This is available for vehicles delivered by July 31st, but we believe it will be extended until September 30th. Your Volkswagen of Fairfield client advisor can provide the most up-to-date information. 
• ID.4 Leases: $7,500 “EV Lease Bonus” is available for qualified customers on EVs delivered by September 30th. 
• ID.Buzz Purchases: 4.9% APR for 60 months for well-qualified customers, or a $2,500 Customer Bonus available for an ID.Buzz delivered by July 31st, but we expect the offer to be extended. Your Volkswagen of Fairfield client advisor can provide the most up-to-date information.

What About Used?

Pre-owned EVs (as well as PHEVs and fuel cell EVs) are still eligible for federal tax credits that equal 30% of the sale price up to a maximum of $4,000. As with all things government, the requirements are complex. Here’s the top level: 

• The vehicles must be purchased from a dealer.
• Have a price tag of $25,000 or less.
• Two years older than the current model year. 
• There are some income limits.

Why Consider an EV – new or used?

Going electric, with or without tax credits, may be an attractive option:

• Overall, long-term savings. The upfront cost of an electric vehicle may be a little higher (one of the main reasons for the vanishing tax credits) but lower maintenance and fuel costs over the long term make driving an EV fiscally prudent.
• Lower your carbon footprint. 
• No more range anxiety. EV range is often about the same as the range for a gas-powered vehicle. 

Even in California, with its aggressive promotion of zero-emission vehicles (ZEV), going all-in on electric mobility isn’t for everyone. But if you’re thinking about it, this is a good time to act. A Volkswagen of Fairfield client advisor can help you sort through all of the stellar VWs on offer – electric and gas-powered – to make the choice best for your lifestyle.

View monthly specials & savings at vwoffairfield.com.