With the increasing awareness of climate change and the need to reduce emissions, electric VWs are becoming a popular choice for many people.
Not only does an electric VW reduce emissions and help the environment, but they also offer more convenience and cost savings in the long run.
And did you know that in 2023, there are even more financial incentives available for those buying an electric vehicle such as an ID.4?
Governments and automakers are offering a range of incentives such as tax credits, rebates, and discounts to make electric cars more accessible and affordable.
These incentives will not only make it easier to buy an electric car but also help reduce the cost of ownership over time.
One state in particular, California, is a leader in the electric vehicle industry and has implemented incentives to encourage more people to buy electric cars.
As of 2023, there are numerous incentives available for those who purchase an electric car in California.
These include tax credits, rebates, and other financial assistance programs.
Additionally, there are also charging infrastructure incentives that make it easier for owners of electric cars to charge their vehicles. With these incentives in place, more people will be encouraged to make the switch to an electric car and help reduce emissions in the Golden State.
In other words, 2023 is a great time to invest in an electric VW as governments are providing incentives and subsidies to encourage people to switch from petrol-powered vehicles.
The perfect EV does exist after all. Check out the Volkswagen ID. Buzz
According to the U.S. Internal Revenue Service, if you buy a new plug-in electric vehicle (EV) or fuel cell vehicle (FCV) in 2023 or after, you may qualify for a clean vehicle tax credit.
According to the IRS, you can find information on credits for used clean vehicles, qualified commercial clean vehicles, and new plug-in EVs purchased before 2023.
The good news: You may qualify for a credit up to $7,500 under IRS code if you buy a new, qualified plug-in EV or fuel cell electric vehicle (FCV), according to the IRS.
The bad news for some: Although the credit is available to individuals and their businesses, your modified adjusted gross income may not exceed:
- $300,000 for married couples filing jointly.
- $225,000 for heads of households.
- $150,000 for all other filers.
In California, if you buy a new eligible plug-in electric vehicle or fuel cell vehicle in 2023, you may qualify for a clean vehicle tax credit of up to $7,500 as well.
Similar to the federal rules to claim the credit, the modified adjusted income limits are $300,000 for married couples who file jointly, $225,000 for heads of households, and $150,000 for other filers.
There’s also a used clean car credit. (More on that later).
Beginning in 2023, you may be entitled to a credit if you buy a qualified used electric VW or fuel cell vehicle. However, that incentive is only available on cars listed at $25,000 or less.
The credit equals 30 percent of the sale price up to a maximum credit of $4,000.
But once again modified adjusted income limits are $150,000 for those who are married but file taxes jointly, $112,500 for heads of households, and $75,000 for other filers.
California’s Clean Cars 4 All program offers incentives for low-income car buyers to turn in an older, polluting vehicle in return for the purchase of a new or used clean vehicle.
Luxury car companies, on the other hand, are increasingly turning to electric vehicles as the future of automotive transportation.
With the advances in battery technology, electric cars are becoming more efficient and powerful than ever before. In the next few years, we will see many luxury car companies going fully electric, offering drivers a luxurious driving experience with zero emissions.
Several luxury car companies have already announced their plans to transition to fully electric vehicles by 2030.
When you buy an electric car you get to take advantage of more than just potential tax savings.
For instance, you, as the driver of an electric VW, may enjoy these other benefits, some of which can save you money.
- HOV Lane Access. In several countries, electric vehicles are allowed to drive in the High Occupancy Vehicle (HOV) lanes, even if there is only one person in the vehicle. This can help to reduce commuting times and make driving more convenient.
- Reduced Toll Fees. Some cities and regions offer reduced toll fees for electric vehicles to encourage their use.
- Free Charging. Electric vehicle owners may have access to free charging at designated public charging stations.
- Lower Maintenance Costs. Electric vehicles have fewer moving parts and require less maintenance than conventional cars.
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The 2023 ID.4 SUV is the perfect electric VW for your active life thanks to its practical, tech-filled cabin with plenty of room for cargo.
Rear-wheel drive models come with a single engine that produces 201 horsepower and delivers 208 miles of range. An all-wheel drive option adds a second motor and bumps up the horsepower to 295, delivering 275 miles of range. The ID.4 comes standard with DC fast-charging capability, making charging at public stations quick and easy.
With the more powerful all-wheel-drive model you can get from zero to 60 in 5.4 seconds and reach a top speed of 111 mph. Either model delivers a smooth ride and great handling as well as a quiet cabin.
Starting at $40,290, the ID.4 can be outfitted with the new Pro S Plus trim, which adds a number of luxury features including heated rear seats, a three-zone climate control system, a premium stereo system, and 20-inch wheels. Pro S models also have illuminated Volkswagen logos on the front and back.
All 2023 models now come standard with a 12.0-inch infotainment display while other upgrades include gloss black exterior trim, a new wheel designs, and new paint colors.
For 2023, the center console has been slightly redesigned as have interior upholstery options.
Moral of the story: 2023 is a great year to buy an electric VW, especially when it’s an ID.4.
Check out the latest electric inventory at VW Marin.
