2024 EV Tax Credit Information
2024 EV Tax Credit Information
Explore electric vehicles (EVs) at The Frederick Motor Company. With new federal and state incentives to reduce costs, going electric is easier and more affordable than ever. We have a great selection and knowledgeable team members to help you transition to a cleaner vehicle with exciting new features to meet your busy lifestyle. Start browsing today and find out which incentives qualify for your new EV purchase or lease!
What's New for EV Federal Tax Credits in 2024?
When you purchase an eligible vehicle in 2024, you won't have to wait until tax season to benefit from the federal clean vehicle credit. Buyers can opt to transfer the credit to The Frederick Motor Company and take the amount directly off their purchase price at the point of sale. We'll submit the information to the IRS through the IRS Energy Credits Online and provide you with a copy of the IRS' approval at the sale. Buyer can still choose to claim their credit with their tax returns to reduce their tax liability if preferred.
Maryland EV Tax Incentives and Rebates
In addition to federal tax incentives, Maryland drivers can stack state incentives to reduce their EV costs. Check out the current EV incentives for Maryland residents:
- EV & Fuel Cell Electric Vehicle (FCEV) Tax Credit- Up to $3,000
- Home Charger Installation Rebate - Up to $700
- High Occupancy Vehicle (HOV) Lane Permit Privileges
- Utility Incentives
Eligible Vehicles at The Frederick Motor Company
There are more restrictions this year for qualifying vehicles on the federal level to help promote US manufacturing and a strong EV supply chain. This year, two of our new vehicles will qualify for the 2024 federal clean vehicle credit:
- Ford Escape Plug-In Hybrid: 37-mile electric-only range, 520 miles total range
- Ford F-150 Lightning, Extended and Long Range Battery: 240- to 300-mile range, towing up to 10,000 pounds
Benefits of Electric Vehicles
- Convenient: Charge at home or on the go
- Powerful: EVs provide instant acceleration and more horsepower and torque than their gas counterparts
- Future-Forward Tech: EVs come equipped with generous technology and digitized center consoles for a modern and high-end experience
- Zero Emissions: Warm up your vehicle in the garage and reduce your carbon footprint with no threat from toxic fumes
- Zero Fuel Costs: No worrying over wildly fluctuating gas prices
- Less Maintenance: EVs require less maintenance than traditional gas vehicles
Claim Your EV Tax Incentives at The Frederick Motor Company
Contact our team to schedule a test drive and demo of our exciting EV options. Our finance and sales experts at The Frederick Motor Company will help you navigate current incentives for EVs. Go electric and save today.
| Monday | 9:00AM - 8:00PM |
| Tuesday | 9:00AM - 8:00PM |
| Wednesday | 9:00AM - 8:00PM |
| Thursday | 9:00AM - 8:00PM |
| Friday | 9:00AM - 8:00PM |
| Saturday | 9:00AM - 5:00PM |
| Sunday | Closed |
| Monday | 7:30AM - 6:00PM |
| Tuesday | 7:30AM - 6:00PM |
| Wednesday | 7:30AM - 6:00PM |
| Thursday | 7:30AM - 6:00PM |
| Friday | 7:30AM - 6:00PM |
| Saturday | 8:00AM - 2:00PM |
| Sunday | Closed |
| Monday | 7:30AM - 6:00PM |
| Tuesday | 7:30AM - 6:00PM |
| Wednesday | 7:30AM - 6:00PM |
| Thursday | 7:30AM - 6:00PM |
| Friday | 7:30AM - 6:00PM |
| Saturday | 8:00AM - 2:00PM |
| Sunday | Closed |