How to Qualify for a Jeep 4xe Federal Tax Credit
We have some great news! If you purchase a Jeep Plug-In Hybrid Electric Vehicle (PHEV) by February 28, 2023, you may be eligible for up to a $7,500 Federal Tax Credit with possible additional state incentives. Not that’s a bang for your buck. Electric Jeeps are already super affordable, and this federal tax credit for Jeeps puts even more money in your pocket. Learn more about the Jeep 4xe federal tax credit now at Ray CDJR in Fox Lake, IL!
What is the Electric Vehicle Tax Credit?
The U.S. Department of Energy has stated all-electric and plug-in hybrid cars purchased in or after 2010 may be eligible for the federal tax credit. Note that the credit amount varies based on the vehicle’s battery capacity.
So does the Jeep Wrangler 4xe qualify for tax credit? Yes! Internal Revenue Code Section 30D provides an income tax credit of $7,500 for the purchase or lease of electric vehicles, like the Jeep Wrangle 4xe and Grand Cherokee 4xe.
How to Claim Your Chevy Electric Vehicle Tax Credit
To claim your Jeep 4xe tax credit, simply visit the U.S. Department of Energy’s website here. Once on the page select “Jeep” in the Manufacturer dropdown menu and find your Jeep electric or plug-in model. If your specific Jeep 4xe model meets the requirements, you can fill out Form 8936:Qualified Plug-in Electric Drive Motor Vehicle Credit.
Eligibility Certification Requirements
There are several requirements your vehicle must meet for it to qualify, including:
- The vehicle must be made by a manufacturer (i.e., it doesn’t include conventional vehicles converted to electric drive).
- It must be treated as a motor vehicle for purposes of title II of the Clean Air Act.
- It must have a gross vehicle weight rating of not more than 14,000 lbs.
- It must be propelled to a significant extent by an electric motor which draws electricity from a battery which has a capacity of not less than 4 kilowatt hours and is capable of being recharged from an external source of electricity.
- The original use of the vehicle commences with the taxpayer—it must be a new vehicle.
- The vehicle is acquired for use or lease by the taxpayer, and not for resale. (The credit is only available to the original purchaser of a new, qualifying vehicle. If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit.)
- The vehicle is used mostly in the United States.
- The vehicle must be placed in service by the taxpayer during or after the 2010 calendar year.
Get the Best of Both Worlds with Jeep 4xe
Jeep plug-in hybrid technology pairs a traditional gas engine with the incredible electric motor performance. There’s no need for range anxiety when traveling to distant destinations thanks to the partnership between 4xe technology and the support of your gas-powered engine. Jeep Brand electrification also offers near-silent, pure EV-driven performance when in Electric mode. Plus, you can adjust the electric output to suit different driving conditions, recharge and do it all over again.
Visit Ray CDJR!
Looking for a Jeep dealer near me? A premier Fox Lake car dealer, Ray Chrysler Dodge Jeep Ram offers a wide selection of cars to help make the buying process easier and as quick as possible. Some say that we, here at Ray CDJR Fox Lake, have the largest selection of new and used vehicles for sale in Fox Lake, IL. Our staff is waiting to help put you in the vehicle of your dreams. As the top Fox Lake Jeep dealership, we’ve got you covered. Visit us to claim your Jeep $7,500 tax credit today!
