How to Use the Federal EV Tax Credit Calculator
The federal Clean Vehicle Credit can lower the cost of buying an EV by up to $7,500 for new vehicles, but eligibility depends on price caps and how much of the credit's battery and mineral sourcing requirements a vehicle meets. New cars must have an MSRP under $55,000, while SUVs, trucks, and vans have a higher cap of $80,000. Used EVs qualify for a separate credit worth 30% of the sale price, capped at $4,000, as long as the price is under $25,000.
Enter your vehicle's class, price, and - for new vehicles - whether it meets one or both sourcing requirements ($3,750 each, up to $7,500 total), and this calculator estimates your credit and flags whether the price exceeds the cap for that class.
Because exact eligibility depends on the specific make and model, battery sourcing details, and your income level, treat this as a starting estimate. Confirm actual eligibility with your dealer or official IRS guidance before finalizing a purchase, since program rules can change.
Frequently Asked Questions
New vehicles can qualify for up to $7,500 depending on whether they meet battery component and critical mineral sourcing requirements ($3,750 for each requirement met). Used EVs get a separate credit of 30% of the price, capped at $4,000.
The credit only applies below certain MSRP caps: $55,000 for cars and $80,000 for SUVs, trucks, and vans (new vehicles), or $25,000 for used EVs. Exceeding the cap for your vehicle class means no credit at all, regardless of other requirements.
No - eligibility depends on the specific make, model, battery sourcing, and your income, all of which can change. Use this as a rough estimate and confirm your vehicle's actual eligibility with the dealer or IRS guidance before purchase.