PHEV Green Drivers: Tax Credits and Incentives

November 29th, 2018 by

2019 Land Rover Range Rover Evoque

Drive cleaner and save more with a hybrid, electric vehicle, or even plug-in hybrid. Not only will these models help the environment, but they can earn you money back. As Land Rover announced their goals for a greener future at the Chicago Auto Show, states like Florida, are also working towards that goal by offering insurance discounts, rebates, and more to help you save money while you save the environment. Look into what Florida has to give back with us at Land Rover Palm Beach.

Florida Driver Incentives

Delve into the eco-friendly perks once you decide to drive green. The state of Florida offers incentives for Boca Raton drivers to drive more environment-friendly vehicles by helping them save money and time with the following:

  • Emission testing exemptions
  • High occupancy vehicle lane exemptions for low emissions vehicles and hybrids
  • IRS tax credits if you own a hybrid, plug-in hybrid, electric car, biodiesel, or alternative fuel vehicle
  • Rebates for alternative fuel vehicle owners including a natural gas fuel fleet vehicle rebate and a commercial electric vehicle charging station rebate

Insurance Discounts

Save even more money when you decide to drive green and take advantage of the insurance discounts available in Florida. These discounts vary depending on your driving habits, the type of vehicle you drive, and a few other factors. Browse through what’s available to you and contact your insurance company to ask about these discounts:

  • Hybrid auto discounts
  • Alternative fuel vehicle (AFV) discounts
  • Economy car discounts
  • Low-mileage discounts
  • pay as you drive discounts

Electric Vehicle (EV) Incentives

The IRS tax credit for an electric vehicle in Florida is from $2,500 to $7,500 depending on the size of the model as well as the battery capacity. This tax credit is available until 200,000 EV’s have been sold in the U.S. by each manufacturer. To claim the credit, you’ll need to fill out the IRS Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit. To be eligible, your vehicle must:

  • Be made by the original OEM manufacturer
  • Weigh less than 14,000 pounds
  • Have a rechargeable electric motor
  • Have a battery that supplies at lease a 4kWh capacity
  • Have been purchased new in or after 2010
  • Be primarily driven, or stored, in the U.S.

Learn More at Land Rover Palm Beach

While you help save the environment little by little, we want to help you save money. There are plenty of incentives, rebates, and tax credits to look into. You may be eligible to get money back. Look into the other ways you can save with us at Land Rover Palm Beach and drive around Delray Beach in your Range Rover PHEV with some extra spending money. Contact us today to learn more about our Land Rover models or to test drive the Range Rover PHEV for yourself.