EV Tax Credits at Franklin Sussex Hyundai
Explore the financial benefits of driving a Hyundai electric vehicle at our local Hyundai dealer near Vernon. With the federal clean vehicle tax credit and new auto loan interest deductions, transitioning to an eco-friendly vehicle has never been more rewarding. Upgrade to your dream electric vehicle when you choose Franklin Sussex Hyundai.
Understanding the Federal Clean Vehicle Tax Credit
The federal clean vehicle tax credit offers a significant incentive for purchasing a new electric vehicle. Available until September 30, 2025, this credit allows eligible buyers to receive up to $7,500 when filing their income taxes for that year.1 This credit can make your transition to a new Hyundai EV more affordable and appealing.
How to Qualify for the EV Tax Credit
To qualify for the federal tax credit, your new Hyundai electric vehicle near Vernon must meet specific criteria. Models like the Hyundai IONIQ 5 and Kona Electric qualify for this rebate. Remember, the federal tax credit ends on September 30, so consider purchasing a new EV in Sussex soon to seize the full advantage. Our knowledgeable team can guide you through the eligibility requirements and help you understand how to claim this credit on your tax return.
New Auto Loan Interest Deductions
In addition to the EV tax credit, you can take advantage of new auto loan interest deductions. Until December 31, 2028, you may deduct up to $10,000 annually in interest on loans for qualifying new vehicles, including electric, hybrid and gas models assembled in the U.S.1 This deduction provides an excellent opportunity to save when selecting American-made brands like Hyundai.
Why Choose Franklin Sussex Hyundai?
At Franklin Sussex Hyundai, we are committed to helping our customers make informed decisions about their vehicle purchases. Our team is well-versed in the latest tax credits and deductions, ensuring you maximize your savings when buying a new or used Hyundai EV.
Buy a Hyundai EV Near Vernon, NJ
Discover the advantages of purchasing an electric vehicle at Franklin Sussex Hyundai. Our dealership offers a wide selection of Hyundai hybrids and EVs, and our team is ready to assist you in navigating the financial benefits available. Contact us or visit our showroom today to learn more about how you can save on your next Hyundai purchase!
Read More:Why Buy at Franklin Sussex Hyundai | Hyundai Financing
1 Information listed here is accurate at time of publishing. Tax credits are subject to change.
