Wednesday , 20 September 2017

Some modified electric automobiles still get the EV tax credit

Some modified electric automobiles still get the EV tax credit
contributed by zeraclinton

Some modified electric automobiles still get the EV tax credit

If you want an electric car, but don’t want a Nissan Leaf or Tesla, there are numerous 3rd parties that will convert a brand new car to run on electric power. Some of them qualify for the EV tax credit. If you need car finance for bad credit, you will get a brand new electric car.

Making the best car choice

Right now, your choices for electric vehicles contain the Mitsubishi Miev, Nissan Leaf and Tesla S. That means you are fairly limited in your options in case you are trying to get an electric vehicle. The nice part about it is that you can get $7,500 taken off your tax bill by purchasing one of these vehicles.

There are not a ton of choices for electric cars; however, you can convert an automobile to an electric car and still get the tax credit, whether you paid somebody or did it yourself. The conversion credit expired at the end of 2011, but it used to be that you could claim 10 percent of the cost of conversion up to $4,000, according to the New York Times.

Some qualify still

A limited number of 3rd parties will convert brand new automobiles to electric cars, some of which qualify for the $7,500 electric automobile credit. For instance, an electric Jeep Grand Cherokee or Mercedes ML350 from Amp Electric Automobiles is eligible for the credit. It will cost a pretty penny, though. Such as the discount from the tax credit, a two-wheel drive Grand Cherokee will cost $49,990 and a four-wheel drive Grand Cherokee will cost $51,900, which is over $30,000 above the cost of the normal models.

Plug-In Motors, according to CNET, offers modified electric versions of the Ford Mustang and the F-150. The automobiles are also eligible for the $7,500 tax credit. They are not inexpensive, either.

[Always shop around for the best rates for auto credit]

The base Mustang, which Plug-In calls the Panther, costs $75,900 and the F-150 costs $89,900. Both have a range of 85 miles. The F-150 takes 34 hours to recharge from a 120-volt outlet and the Panther takes 11 hours, though a 240-volt socket reduces charge time to 3.2 hours and 1.1 hours, respectively. The company also offers models of both with a 200-mile range, which cost $99,900 for the Panther and $114,900 for the F-150.

Does your state do credits?

State credits are also accessible for a ton of electric automobiles. If you convert your automobile to electric power, you can get a 50 percent credit from Oklahoma and 85 percent credit from Colorado, according to CNET.

There are a list of accessible state credits on the website of the Alternative Fuels and Advanced Automobile Data Center, part of the U.S. Department of Energy. Interested buyers should look at the accessible credits in their state.

Sources

New York Times

CNET

Plug-In Motors

AFDC state credits database: http://www.afdc.energy.gov/afdc/laws/state

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