Lexus hybrid models are some of the most efficient, low-maintenance vehicles at the showroom here at Lexus of Valencia. Some visitors to our dealership ask, “Do hybrids qualify for tax credit?” While the answer is complicated, hybrid vehicles still provide advantages outside of tax incentives. Here at Lexus of Valencia, our team of Lexus dealers is happy to review the benefits of purchasing a hybrid model.
Hybrid Vehicles and Tax Credits
The tax credits surrounding hybrid vehicles are constantly evolving, and like everything else about the tax code, it can be a challenge to keep up. Changes in the Infrastructure Reinvestment Act (IRA) mean that many hybrids and PHEVs – including Lexus models – that once qualified don’t anymore. Likewise, the California Clean Vehicle Rebate Project ended in November 2023.
Tax Loopholes for EVs and Hybrids
That said, your vehicle may still qualify under a couple of provisions in the current tax code. Some leased vehicles qualify even if they would not meet the criteria when purchased new. Likewise, many used cars qualify for credits, too. However, we suggest asking your Lexus dealer and your tax professional for guidance because the regulatory landscape and incentives – federal, state, and local – are constantly changing.
Other Savings
The first and most obvious way that a Lexus hybrid like the Lexus NX 450h+ or an EV like the Lexus RZ can help you save is that these models are engineered to deliver exceptional fuel economy, saving you trips to the gas station. EVs forego the gas station altogether and have lower maintenance needs, while Lexus hybrids offer excellent fuel economy.
Experience a Lexus Hybrid Car in Valencia, CA
Here at Lexus of Valencia, we boast a wide selection of fuel-sipping Lexus hybrid and EV models. Visit us today to discover the advantages of purchasing a hybrid or EV Lexus model. Our friendly team is ready to get you behind the wheel of a Lexus hybrid that is perfect for your lifestyle!
