What Should Hyundai Buyers in Springfield Know About EV Tax Credits?
The federal Clean Vehicle Credit provides up to $7,500 in tax savings for eligible electric vehicle purchases. This credit is scheduled to expire on September 30, 2025, unless renewed. Additionally, a home EV charger installation credit is available through June 30, 2026. Timing your purchase is critical to maximize your benefits.
How Is the $7,500 Federal EV Tax Credit Divided?
The total credit consists of two parts:
- $3,750 for meeting battery component sourcing requirements
- $3,750 for meeting critical mineral sourcing standards
Some Hyundai EVs may qualify for the full amount, while others may only be eligible for a partial credit based on their manufacturing and battery sourcing.
What Are the Eligibility Requirements for Hyundai EVs?
To qualify for the Clean Vehicle Credit, a Hyundai EV must:
- Be new at purchase
- Have a battery capacity of at least 7 kWh
- Be assembled in North America
- Be produced by a qualified manufacturer
There are also MSRP limits:
- $80,000 for trucks, vans, and SUVs
- $55,000 for all other vehicles
The dealership is also responsible for submitting buyer and vehicle information to the IRS to confirm eligibility.
Why Should Springfield Hyundai Customers Act Soon?
These tax credits are time-limited. The Clean Vehicle Credit expires on September 30, 2025, and the home charger credit ends on June 30, 2026. Acting now ensures you won’t miss out on thousands in potential savings.
How Can Reliable Hyundai Assist You?
Our team at Reliable Hyundai in Springfield, MO, can help you verify vehicle eligibility, explain program details, and guide you through the paperwork. We’re here to make your EV purchase or charger installation smooth and rewarding.
Interested in Hyundai EV Incentives?
Visit Reliable Hyundai today or contact us to learn which vehicles qualify and how to claim your federal tax credits before they expire.
