Are you eligible for the EV tax credit?
KeySavvy enables private party sales to qualify for the EV tax credit. Use this tool to determine if your EV is eligible.
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Check your eligibility
We'll ask you about the buyer, seller, and vehicle. Your answers help us to determine if your transaction qualifies for the used EV tax credit.
What's the sale price of the vehicle, before tax?
Frequently Asked Questions
Are private party sales eligible for the used EV tax credit?
Private party sales are not normally eligible for the EV tax credit, unless you use KeySavvy.
Normally, the seller must be a licensed dealership. When you use KeySavvy to buy an EV, you're buying from a licensed dealership, so your purchase will qualify, if all other requirements are met.
How much is the used EV tax credit?
The maximum tax credit is 30% of the purchase price, up to $4,000. The credit also cannot exceed your total income tax liability for the year.
How do I claim the used EV tax credit?
You can choose to transfer your credit to KeySavvy or claim it when you file your federal income tax return. For purchases in 2024, you would claim the tax credit when you file your taxes in early 2025. If you choose to transfer your credit to us, we'll apply the amount of the credit to your transaction so you'll only need to pay the remainder.
Are businesses eligible for the used EV tax credit?
No, the buyer must be a person.
Is there an income limit for the used EV tax credit?
Yes. The buyer's modified adjusted gross income in the current year or the prior year must be less than:
- $150,000 for married filing jointly
- $112,500 for heads of households
- $75,000 for all other filers
View the full criteria on the IRS Used Clean Vehicle Tax Credit page.
Can I claim the used EV tax credit for multiple cars?
You can only claim the used EV tax credit once every 3 years.
Can KeySavvy apply the EV tax credit at point-of-sale?
Yes! Qualified buyers can apply the full EV tax credit toward the purchase of eligible electric vehicles. When you accept your seller's price on KeySavvy, you can indicate that you plan to apply for the federal used EV tax credit.
How does this work? If the sale price is $25,000 and qualifies for the maximum $4,000 credit, the buyer pays $21,000 to KeySavvy, and the seller receives the full $25,000 (minus our fee). After the buyer picks up the vehicle, the IRS pays us the remaining $4,000 directly.
Where can I find EVs that qualify for the tax credit, or sell my EV?
You can search for qualifying EVs or PHEVs on any marketplace, but most sites don't make it easy to filter by EV-specific criteria, like battery size. We recommend checking out our partner Find My Electric for buying and selling EVs. They have the largest selection of private party listings and have built tools specifically to help EV buyers and sellers.
Get the used EV tax credit when buying private party
We use our dealer license to enable private party sales to qualify for the used EV tax credit.
Copyright © KeySavvy, Inc., a public benefit corporation.
KeySavvy is a licensed auto dealer, regulated by Minnesota Driver & Vehicle Services. License #DLR100357.