The prices at the pump these days are enough reason to buy a plug-in hybrid (PHEV) or electric vehicle (EV), like the hybrid Subaru Crosstrek. But there are more advantages to going PHEV or electric – like a Subaru EV tax credit!
Plug-in Hybrid & Electric Tax Credit
That’s right, your hybrid or electric Subaru model could save you money on your taxes as well as on gas! Here’s what you need to know.
- All PHEVs and EVs qualify. Whether you want the flexibility that comes with both electric and gas power or you want to be free of the pump forever, you’ll still qualify for a tax credit.
- Tax credit amounts vary. While all PHEV and EV models qualify, the amount can vary. With Subaru models, you can qualify for the full $7,500 tax credit when you purchase the fully electric 2023 Subaru Soterra, and if you prefer the PHEV option, still get a $4,502 tax credit when you choose the hybrid Subaru Crosstrek.
- The credit counts towards your taxes owed. A tax credit can feel like a refund in its own way, but you will have to wait until tax season to take advantage of it. The credit will be applied towards the amount you owe on your taxes for the year of purchase.
- You can get local tax incentives as well. While funding varies, Maryland sometimes offers an excise tax credit for the purchase of a PHEV or EV, and you can also qualify for a tax credit and rebate for the installation of a charging station.
PHEV and EV Subaru Vehicles in Owings Mills
Tax credits, savings at the pump, and the adventure and comfort of a Subaru model – there’s no reason not to learn more about hybrid and electric options at Heritage Subaru Owings Mills. Call or visit today to set up a test drive with a Subaru dealer! Owings Mills drivers can learn more about the advantages of going electric at our dealership.
