Tax Time MAZDA Tips: MAZDA PHEV Tax Credit Info

If you purchased a Mazda plug-in hybrid electric vehicle within the last year, you might qualify for a Mazda PHEV tax credit. This is a tax benefit as a bonus for purchasing a vehicle with a lower carbon footprint than traditional gas-powered cars and SUVs. El Dorado Mazda wants you to reap all the benefits of buying a PHEV, and we’re here to help you understand the credit and whether your vehicle qualifies.

How Much Is the PHEV Tax Credit?

The actual credit amount may vary depending on factors like your vehicle’s body style, size, weight, and where it and its battery were assembled. The maximum federal tax credit for PHEVs is $7,500.

Which Models Qualify for a MAZDA PHEV Tax Credit?

Mazda plug-in hybrid electric vehicles may qualify for the tax credit, including the Mazda CX-70 PHEV and the Mazda CX-90 PHEV. However, keep in mind that you can only file for the tax credit for the year in which you purchased or leased the vehicle, and the make and model might affect the eligibility and amount of your potential credit.

Do Leased Vehicles Also Qualify for a PHEV Tax Credit?

Regardless of whether you lease or purchase your Mazda PHEV model with our finance center, you may be eligible for the tax credit. And there’s even more good news: you might even qualify for the credit if you have a pre-owned Mazda PHEV. Although the credit won’t be as much as it would for a brand-new vehicle, some pre-owned models are eligible for a credit of up to $4,000.

Learn More at Our McKinney, TX MAZDA Dealership

You’ll likely have questions about the Mazda PHEV tax credit. And we have all the answers you need! Visit our McKinney, TX Mazda dealership today for more information on this great tax benefit.