How do EV Tax Credits Work?
If you’re thinking of buying an electric car like the Chevy Bolt EUV, you’re probably focused on the part about not ever needing to buy gas again. However, it’s also great for your bank account in addition to helping the environment, especially since your purchase or lease may qualify for a generous tax credit. Phelps Chevrolet is here to help!
Federal EV Tax Credit
The Inflation Reduction Act drastically reduced the number of EVs eligible for a $7,500 federal tax credit. It also created a series of stipulations to qualify for the incentive.
- The vehicle must have a battery size of at least 7 kWh and a gross vehicle weight rating of less than 14,000 pounds.
- Besides the vehicle, most battery components must be made in North America.
- Also, you need to make enough money to deduct $7,500, but each tax status has specific income restrictions.
Good news: the Chevy Bolt and Chevy Bolt EUV both qualify.
Does North Carolina Offer a Tax Credit?
While many states supplement the federal tax credit with state incentives, North Carolina doesn’t. They do offer an emissions tax exemption, however.
Furthermore, if you rely on Duke Energy for your power, you’ll be happy that the company will give you financial assistance for adding a charging station to your home. They will provide up to $1,133 to install a Level 2 charging station.
Find Your First, or Next, Electric Car in Greenville, NC
Are you ready to claim your tax credit? Come down to Phelps Chevrolet to browse and test-drive the electric vehicles we have in stock.
GM Discontinuing OnStar® in Older Models
Even if you’ve never needed to use OnStar® in your car to get emergency assistance, you probably have great peace of mind knowing it’s there. This is why a recent announcement from General Motors may come as a surprise: OnStar is now discontinued for older vehicles. Here’s how to determine whether your car is affected and what to do next if it is.
Read the rest of this entry »Chevrolet Discontinuing Two Popular EVs
If you’ve been waiting to pick up a Chevy electric vehicle (EV), we don’t suggest waiting too long. This is because the company has decided to discontinue two models, the Chevy Bolt EUV and Chevy Bolt EV, which will cease production at the end of 2023.
Read the rest of this entry »3 Reasons to Avoid Quick Lube Shops
One of the most important Chevrolet service tasks – if not the most important – is an oil change. This is the best way to keep an engine healthy and running efficiently while delivering good gas mileage. It is, however, vital that you choose your service center wisely, and there are a few reasons to pick your Chevy dealership rather than going to a quick lube shop.
Read the rest of this entry »3 Parts Your Older Chevy Car Might Need Soon
While it would be excellent for car parts to stay in great condition forever, eventually, many of them wear out. If you’ve had your Chevy vehicle for a while and haven’t needed much beyond oil changes, that time will almost certainly be coming soon. These are the three Chevy parts that generally wear out the fastest.
Read the rest of this entry »2024 Chevrolet Trailblazer Preview
In the subcompact SUV class, the Chevrolet Trailblazer is a leader every year. And it just seems to get better every year. Here you’ll get to know the 2024 model and its impressive features and amenities.
Read the rest of this entry »End of the Line for the Chevy Camaro?
If you’ve been thinking about buying a Chevrolet Camaro but haven’t taken the plunge yet, you shouldn’t hesitate for much longer. This is because Chevy recently announced that after the 2024 model year, the latest generation of this venerable vehicle will be retired. Fortunately, the 2023 model is available right now, and here we go over its top features.
Read the rest of this entry »Chevy Silverado 1500 Towing Terminology
If you’re looking for a car as a daily driver, it probably won’t be too difficult finding a suitable vehicle. However, shopping for a work truck can get a little trickier. This is why it pays to do your research and get to know the terminology, familiarizing yourself with these towing terms before buying a Chevy Silverado 1500.
Read the rest of this entry »Previewing the Chevrolet Corvette SUV
In terms of style, sportiness, and pure sex appeal, few (if any) cars can match what the Chevrolet Corvette offers. But we’re about to discover what would happen if those same qualities were available in an SUV, with a new Chevy Corvette SUV just over the horizon. While details are still scarce, here are some speculations about what this car will be like.
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While our winter weather was mild for the most part, the Greenville area still got its share of frigid weather. With spring on the way, you’ll want to ensure your Chevy is well-recovered. While a Chevy oil change will be a big help, there are other service tasks you don’t want to forget about.
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