The landscape of electric vehicle incentives is shifting, and for those considering making the switch to an EV, the time to act is now. A significant federal incentive that has made driving a new electric vehicle more affordable is set to expire. This means the opportunity to receive substantial savings on a new Chevrolet EV has a fast-approaching deadline.
At Central Chevrolet in West Springfield, MA, we want to ensure our customers have the latest information to make an informed decision. Here’s what you need to know about the changing federal EV incentive and how you can still take advantage of it.
The Clock is Ticking: Incentive Deadline Approaching
The current federal incentive program for new electric vehicles will end on September 30, 2025. Any new eligible electric vehicle purchased and placed into service after this date will not qualify for this federal credit. This creates a clear window of opportunity for prospective EV buyers in the Western Massachusetts area to capitalize on these savings.
How Much Can You Save?
The federal incentive offers a credit of up to $7,500 for the purchase of a new, qualifying electric vehicle. For those considering a pre-owned EV, a separate credit of up to $4,000 is also available, representing 30% of the sale price, whichever is less.
Your Questions About the EV Incentive Answered
Which Chevrolet Models Are Eligible?
Chevrolet has a strong lineup of electric vehicles that are eligible for the full $7,500 federal tax credit if purchased before the September 30, 2025 deadline. These include:
- 2025 Chevrolet Blazer EV: This stylish and versatile all-electric SUV is a great option for families and individuals alike.
- 2025 Chevrolet Equinox EV: With its impressive range and affordable price point, the Equinox EV is a game-changer in the electric crossover segment.
- 2025 Chevrolet Silverado EV: For those in need of a capable and powerful electric truck, select trims of the Silverado EV also qualify for the full credit.
Please note: The 2025 Chevrolet Bolt EV and Bolt EUV are not eligible for this federal incentive.
How Do I Claim the Incentive?
One of the most significant recent improvements to the federal EV incentive is the ability to receive it as an immediate discount at the point of sale. Central Chevrolet is a registered dealership, meaning we can handle the paperwork and apply your eligible credit directly to the purchase price of your new EV. This provides you with instant savings without the need to wait to file your taxes.
Are There Income Limitations?
Yes, there are income limitations to qualify for the federal EV incentive. For a new vehicle, your modified adjusted gross income cannot exceed:
- $300,000 for married couples filing jointly
- $225,000 for heads of households
- $150,000 for all other filers
For used vehicles, the income caps are:
- $150,000 for married couples filing jointly
- $112,500 for heads of households
- $75,000 for all other filers
Are There Vehicle Price Caps?
To qualify for the credit, the Manufacturer’s Suggested Retail Price (MSRP) of the new vehicle cannot exceed:
- $80,000 for vans, SUVs, and pickup trucks
- $55,000 for other vehicles
For used vehicles, the sale price must not exceed $25,000.
Why You Shouldn’t Wait
The upcoming changes to the federal EV incentive program create a sense of urgency. With the September 30, 2025, deadline firmly in place, waiting could mean missing out on thousands of dollars in savings. The team at Central Chevrolet is here to help you navigate this process and find the perfect Chevrolet EV to fit your needs and budget.
Visit Central Chevrolet in West Springfield, MA, today to test drive an eligible Chevrolet EV and speak with our knowledgeable sales staff. Lock in your federal incentive before it’s too late!
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