Act now to get a $7,500 tax credit on most EVs.
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Connecticut and Federal Electric Vehicle Rebate Programs
At Mitchell Selig Ford, it's an exciting time to be shopping our Ford sustainable inventory - from Mustang Mach-E and Ford E-Transit to the rather amazing Ford F-150 Lightning.
What this inventory provides in select and innovative models comes a literal wealth of benefits and advantages all. While dispensing with fuel and its causticity, then come state- and federal-based initiatives rewarding your prudent decisioning.
The premise rests with reducing out-of-pocket cost at time of purchase and going forward for Windsor shoppers to efficiently seize.
What's In-Play near East Hartford
In the industry and outside, there's been a concerted effort to wean ourselves from fuel-fired vehicles.
Once ever-present at local West Hartford dealerships, gas-inclined vehicles sold and emissions later released have likely contributed to environmental change here and across the globe. In fact, those once brutal winters of the 1970s are now less common in New England. Weather is now warmer and more manic, seedlings are blooming earlier and animal species are ranging beyond their normal habitats. Common it is to see pelicans along the coast, as one mere example.
So, to provide an incentive toward purchasing Ford all-electric models, both the state of Connecticut and federal government have devised cash-saving programs.
There's no doubt that most electric vehicles (EVs) are costly regarding MSRP (manufacturer's suggested retail price). To stem fiscal inconvenience, this collection of initiatives should make deciding upon Ford F-150 Lightning a relatively easy affair for Hartford families and commercial buyers alike.
EVConnecticut - Home-grown Incentives
Specific to the Constitution State, the Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) levied by EVConnecticut delivers a home-grown enticement to consider. This in combination with as many as 360 public charging stations situated throughout our state.
In this, CHEAPR provides an incentive of up to $5,000 toward the purchase of a new qualifying electric vehicle like the Ford F-150 Lightning. This is convened right at our dealership in an efficient and streamlined manner. In effect, there's no waiting for a rebate check to delivered via mail or direct deposit.
Added Benefits
As well, EVConnecticut will also periodically lend local and state agencies as well as private businesses specific EV charging station incentives. This is likely to comprise free credits for charging sessions, while many Starbucks' locations provide parking stalls equipped with EV charging units. More businesses are coming onboard with this innovative approach to charging while shopping in East Hartford.
2024 Instant Rebate - Convenient Federal Backing
It's no fun to wait upon the IRS (Internal Revenue Service) for any generic tax credits claimed to be accepted and applied. And to think of the details and requirements codifying such tax breaks, there's a sense of the federal government making the crediting process so unappetizing to even consider.
As part of the federal Inflation Reduction Act, implemented as of the new year is the 2024 Instant Rebate program. And to this is exactly what is conveyed by the program's title - instant savings at time and point of purchasing a qualifying Ford EV near Windsor.
EV Cost Reduced
To this, it's a fact that EVs cost more than your average fuel-fired vehicle. This then requires an ample down payment to be made by the Hartford family and time it takes to secure something so convincing.
However, the 2024 Instant Rebate effectively mitigates this circumstance and reduces the involvement it would take to issue EV credits. Bear-in-mind, shoppers will have to meet certain criteria like income thresholds to take full advantage of this innovative initiative.
As such, when a car dealership registers with the program's Energy Credits Online portal, it allows for East Hartford shoppers to welcome an instant price reduction on a qualifying Ford EV by up to $7,500. In this process, dealerships must submit time-of-sale reports to confirm vehicles' eligibility. Then an advance compensation payment from the IRS is made directly to the dealer and expected within 72-hours of sale completion.
Electric Vehicle Federal Tax Credits - Another Measure to Consider
In lieu of the 2024 Instant Rebate is the original Electric Vehicle Federal Tax Credit program, which remains viable.
This incentive delivers income tax credits of up to $7,500 on all-electric, plug-in hybrid and fuel-cell vehicles purchased as new in 2023 or after. Though there are certain variables that come into play concerning the electrified vehicles in-question. These will include vehicle MSRP, where final assembly occurred, battery component configuration and the shopper's adjusted gross income (AGI).
Once these details have been satisfied, you may claim these credits on your tax return when filing in the same year as acquisition. With a circumstance where credits haven't been exhausted in a single tax year, the remaining balance carries over to each coming year until credits are duly depleted.
Other Perks to Ford EV Ownership
There are further benefits to owning a Ford Mustang Mach-E. These are provided at certain levels by state agencies and local Hartford businesses alike.
As an example, HOV carpool-lane access is made available when traveling alone. Certain municipalities and urban districts lend free parking for Ford EVs. And many businesses are installing charging units adjacent to store-dedicated parking stalls. As well, occasionally car dealerships offer complimentary charging on respective lots in support of your sustainable vehicle decisioning.
Qualifying Ford EVs for Sale in Windsor
Given so many incentives and enticements on the table as it were, perhaps the best detail rests with those new Ford models that will never require fuel or oil changes.
With sustainable powertrains intact and those ever-present Built Ford Tough parameters cementing versatility, there are few competitor marques of equal quality. So, it behooves the local West Hartford shopper to consider the very virtues of the Ford brand and in what capacity these are relative to Ford EVs summarized below.
Ford F-150 Lightning
The Ford F-150 Lightning occupies its very own category. Few brands have developed a comparable pickup that's powered via electricity alone. This to the degree that F-150 Lightning may act as a generator to power household appliances should the grid go down during a Nor'easter. Effected after an overnight charge is an estimated emissions-free range of 320-miles.
Ford Mustang Mach-E
Ford Mustang Mach-E is another innovation for the brand. Building upon that legendary Ford muscle-car mystique, electric powering delivers up to an estimated 312-miles while seating five passengers. And trim-dependent is an acceleration rate spanning zero to 60 mph in just 3.5-seconds.
Ford E-Transit
It's almost ingenious to offer local East Hartford commercial outfits the cost-savings associated with the new 2024 Ford E-Transit. As a work van, budgeting no longer takes into account fuel and detailed maintenance expenditures. Found with three roof heights, workdays are lent an estimated range covering 159-miles from a redesigned 89 kWh battery.
Mitchell Selig Ford - Your Answer to Ford Sustainability near West Hartford
To find out more about all the incentives applied to new Ford EVs, visit our local East Hartford-area Ford dealership. While onsite, you may test drive your preferences at no obligation.
There's also the opportunity of meeting our finance professionals toward securing additional deals and offers that may be available. This could include the trade of a current EV or any other vehicle toward further lessening cost.
With the industry changing rapidly, it should inspire your choice in Ford EVs for the capacities and capabilities involved.
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Mitchell Selig Ford
801 Bloomfield Ave
Windsor, CT 06095
- Sales: 860-688-3651
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