Electric vehicles (EVs) continue to gain popularity among car buyers, and that trend is evident right here in communities like Sandusky and across northern Ohio. One of the most anticipated upcoming EVs is the 2025 Chevy Equinox EV. As with any electric vehicle purchase, a common question is whether the Equinox EV will be eligible for a federal tax credit to help make the cost more affordable. In this blog, we'll provide an overview of the tax credit for EVs and the specific criteria for the Chevy Equinox EV.
EV Tax Credit Eligibility
The federal government offers a tax credit on the purchase of electric vehicles in order to encourage the adoption of EVs and support the growth of the EV market. The specific amount of the credit depends on the capacity of the vehicle's battery. Chevy has announced that the Equinox EV will have an estimated range of 300 miles, which suggests it will likely qualify for the full $7,500 credit amount. That credit would apply whether you purchase the Equinox EV in Huron, Vermillion, or any other local community.
How the EV Tax Credit Works
So how do you actually claim the credit after buying an eligible EV like the Equinox? The credit gets applied when you file your federal taxes for the year in which you purchased the vehicle. The credit amount directly reduces your tax liability, almost like a big rebate on the vehicle purchase. There are some limitations and phase-outs of the credit based on the manufacturer's overall EV sales, but Chevy is likely to be well within the threshold for customers to claim the full credit amount on the Equinox EV.
Buying Your Chevy Equinox EV
If you're considering making the switch to electric with the upcoming Equinox EV, Foster Chevrolet right here in Sandusky is the perfect place to start. Our knowledgeable team can walk you through all the details of buying an EV, including charging options, range considerations, and of course, the tax credit process. We're proud to serve customers across the region, from nearby areas like Fremont to communities along the lake like Vermillion and Norwalk.
Foster Chevrolet
Electric vehicles like the 2025 Chevy Equinox EV offer an exciting, efficient option for local car buyers. With the added bonus of a federal tax credit, going electric is more appealing than ever. Stay tuned for more details on the Equinox EV's release, and feel free to contact us or visit Foster Chevrolet near Fremont, OH, to learn more about making an EV your next vehicle.