This northwestern state offers the most generous incentives for the purchase of a green vehicle.
This year is a good year for consumers who want to buy a new electric vehicle.
The supply chain disruption and computer chip shortages that have hit the industry are gradually abating. This means that factories are back to normal operation and delivery times are not as long as last year and during the covid-19 pandemic.
Public authorities are moving to facilitate mass adoption of green vehicles. To do this, the federal government extended the $7,500 federal tax credit and removed the restrictions it had placed on Tesla, (TSLA) – Get a free reportgeneral motors (GM) – Get a free reportand Toyota TM cars are no longer eligible.
As of now, any manufacturer of green vehicles (electric vehicles and plug-in vehicles) is eligible for this credit.
Additionally, many states also offer rebates to consumers interested in clean vehicles.
There is a particular state where it is possible to buy the Tesla Model 3 sedan, a Chevrolet Bolt or a Nissan (NSANY) Sheet for less than $30,000. the price of a ford (F) – Get a free reportThe Mustang Mach-E costs around $30,000.
That state is Oregon.
By stacking the incentives, state residents can become electric vehicle owners and pay more than affordable prices.
Consumers who purchase a new electric vehicle in Oregon benefit from the $7,500 federal tax credit.
You can also save up to an additional $7,500 through the Oregon Clean Vehicle and Charge Ahead Rebate programs from the Oregon Department of Environmental Quality.
These latter programs have restrictions. Must reside in Oregon. All local residents can get up to $2,500 back on the purchase or lease of a qualifying new electric vehicle. Low- and moderate-income Oregonians can save an additional $5,000 on qualifying new or used electric vehicles.
For a vehicle to be eligible, the manufacturer’s suggested retail price must not exceed $50,000, according to the program.
“The Oregon Clean Vehicle Rebate Program offers a rebate for Oregon drivers who purchase or lease zero-emission vehicles. It is not a tax credit,” the state said. says. “The program is designed to reduce vehicle emissions by encouraging more Oregonians to purchase or lease zero emission vehicles.”
There are also other local incentives like utility rebates ranging from $100 to $1,500.
In view of all these programs, TheStreet did the math and came up with this:
Tesla model 3 rear wheel drive
MSRP: $43,490
Federal Tax Credit: $7,500
Oregon Clean Vehicle Rebate: $2,500
Oregon Advance Fee Reimbursement: $5,000
Local Incentives: $100-$1,500
Price after discounts and incentives: $26,990-$28,390
Ford Mustang Mach-E
MSRP: $45,995
Federal Tax Credit: $7,500
Oregon Clean Vehicle Rebate: $2,500
Oregon Advance Fee Reimbursement: $5,000
Local Incentives: $100-$1,500
Price after discounts and incentives: $29,495-$30,895
Chevrolet Bolt EV
MSRP: $26,500
Federal Tax Credit: $7,500
Oregon Clean Vehicle Rebate: $2,500
Oregon Advance Fee Reimbursement: $5,000
Local Incentives: $100-$1,500
Price after discounts and incentives: $10,000-$11,400
nissan leaf
MSRP: $28,040
Federal Tax Credit: $7,500
Oregon Clean Vehicle Rebate: $2,500
Oregon Advance Fee Reimbursement: $5,000
Local Incentives: $100-$1,500
Price after discounts and incentives: $11,540-$12,940.
The prices we have calculated are base prices if a consumer meets all the criteria to qualify for all available state tax credits and incentives.
These prices are for new vehicles. In addition to these prices, buyers must add the costs of optional features.
