How Do Electric Car Tax Credits Work in Massachusetts?
There are so many great reasons to opt for an all-electric GMC for sale in Massachusetts. In addition to a reduced carbon footprint, there are exclusive opportunities to save when you buy a new EV. So, when you drive by the fuel pump, you can enjoy savings for miles and miles. Have questions about EV tax credits?
Visit our GMC dealership near New Bedford and our finance team will explain Massachusetts EV tax credits as well as how you can claim federal electric vehicle tax incentives before they expire. Are you ready to transform your time behind the wheel with zero emissions? Visit Mastria GMC today to get started!
Is the Federal EV Tax Credit Ending?
Yes, the federal Clean Vehicle Tax Credit will be ending on September 30, 2025. So, if you want to take advantage of this significant tax savings opportunity, be sure to purchase your EV before then! This applies to federal tax credits on new and used electric vehicles purchased for both personal and commercial use.
Are EVs Eligible for the New Auto Loan Interest Deduction?
Effective now through December 31, 2028, there will be a new Auto Loan Interest Deduction available to car buyers. This savings opportunity allows drivers to deduct up to $10,000 in annual interest on loans for qualifying new personal-use vehicles, including new EVs, hybrids and Internal Combustion Engine vehicles that have undergone final assembly in the United States.1
With the Clean Vehicle Tax Credit ending, this is a great way for prospective EV drivers to still save big on their purchase when buying from an automaker that values American manufacturing like General Motors.
How Do I Get My Electric Vehicle Tax Credit?
If you purchased your electric vehicle before September 30, 2025, you'll have the chance to claim up to $7,500 in federal tax credit if the vehicle is eligible. If you're eligible, you'll receive your tax credit with your refund.
