Electric Car Tax Incentives in Illinois
2023 Electric Car Tax Credits & Qualifying Ford Models
Are you interested in getting the keys to a new Ford EV nearby? There are more benefits to it than just helping the environment! You can help your wallet, too, thanks to federal electric car tax credits and
EV rebates in Illinois. There are many ways to save big on your ideal electric Ford SUV or truck at our Ford dealership near Joliet, so stop by today to browse our inventory and get all the information you need.
Our Ford financing experts can answer all your questions about EV tax credits and help you reduce your carbon footprint on the road ahead. Find your perfect electric Ford for sale in Frankfort today!
How Do I Claim an EV Tax Credit?
It’s easy to claim your electric car tax credit with the purchase of a qualifying new Ford EV. To qualify, you must buy it for your own use and not resale, and use it primarily in the U.S. There are also caps for modified adjusted gross income, with the available tax credit reaching up to $7,500 depending on the model.1
To be eligible, the vehicle must be purchased new, have a gross vehicle weight rating of less than 14,000 pounds and have a battery capacity of at least seven kilowatt hours. For more details about how to claim your EV tax rebate, reach out to Currie Motors Ford of Frankfort!
Does Illinois Offer EV Rebates?
Yes, the Illinois Environmental Protection Agency (IEPA) offers rebates to Illinois residents for the purchase or lease of a new or used electric vehicle. This rebate can be combined with the federal electric car tax credit. Rebate amounts depend on the timeframe of purchase, with full details as follows:
| Purchase or Lease Timeframe | Rebate Amount1 |
|---|---|
| July 1, 2022-June 30, 2026 | $4,000 |
| July 1, 2026-June 30, 2027 | $2,000 |
| Beginning July 1, 2028 | $1,500 |
Which 2023 Ford Models Qualify for a Tax Credit?
Many new Ford SUVs, trucks and vans qualify for a federal electric car tax credit of up to $7,500.1 No matter your lifestyle or needs, you can shop for a new electric Ford in Frankfort and get the keys to your perfect vehicle, all while saving big on your end-of-year taxes!
2023 Ford Electric Vehicles that Qualify:
| Model | Applicable MSRP Limit1 |
|---|---|
| 2023 Ford Escape Plug-In Hybrid | $55,000 |
| 2023 Ford E-Transit | $80,000 |
| 2023 Ford F-150 Lightning | $80,000 |
| 2023 Ford Mustang Mach-E | $55,000 |
Contact Currie Motors Ford of Frankfort if you have any more questions about available electric car tax incentives or which models are eligible. There’s no better feeling than getting behind the wheel of an eco-friendly plug-in hybrid Ford or all-electric vehicle you love, so reach out today to discover EV tax credits you may qualify for!
