Tax Benefits of Buying an Electric Vehicle

EV Tax Credits for Ford Vehicles

Affordable electric vehicle (EV) ownership is more accessible to more Wisconsin drivers thanks to a greater range of vehicle options and the Clean Vehicle Credit as part of the federal Inflation Reduction Act of 2022. You can get up to $7,500 in tax credits for qualifying purchases or leases on a new Ford EV. Our Finance Team is a great source of information, and our sales team can help you find the perfect electrified vehicle to meet your needs and get the most from available credits and incentives.

How to Qualify for the EV Tax Credit

The most important part of qualifying for the federal Clean Vehicle Credit is finding the right vehicle, but there are also income requirements. The credit is for personal vehicles in the United States, and the adjusted gross income limit is no more than $300,000 for married filing jointly, $225,000 for heads of households, and $150,000 for individuals.

Qualifying Ford Vehicles at Kayser Ford of Sauk City

Only plug-in hybrid electric vehicles (PHEVs) and EVs with final assembly in North America qualify for the Clean Vehicle Credit. There is also an MSRP limit of no more than $80,000 for vans, SUVs, and pickup trucks or $55,000 for other vehicle body styles. At Ford of Sauk City, the following vehicles qualify for the federal EV tax credit:

  • 2022 or 2023 Ford Escape Plug-In Hybrid
  • 2022 or 2023 Ford F-150 Lightning
  • 2022 or 2023 Ford Mustang Mach-E
  • 2022 or 2023 Ford E-Transit

Claiming the EV Tax Credit On Your New Ford

In order to claim the Clean Vehicle Credit, you must file a tax return for the next applicable tax year. You should submit IRS Form 8936 with your income tax return. It may also be helpful to contact your tax preparation specialist to ensure you get the proper credits for your PHEV or EV purchase.

Shop EVs and Save at Kayser Ford of Sauk City

Kayser Ford of Sauk City makes EV ownership affordable and practical with services and solutions to meet your needs. For more information or questions about the EV tax credit and our current qualifying Ford models, contact our experts in the Finance Center or our sales team. We are happy to assist you and help you get the most of all available incentives and credits to make life with your new EV even better.

  1. Kayser Ford of Sauk City

    837 Phillips Blvd
    Sauk City, WI 53583

    • Sales: 608-643-8553
Loading Map...

Get in Touch

  • Contact our Sales Department at: 608-643-8553
  • Monday9am-6pm
  • Tuesday9am-6pm
  • Wednesday9am-6pm
  • Thursday9am-6pm
  • Friday9am-6pm
  • Saturday9am-3pm
  • SundayClosed