Honda EV Tax Credit Q&A

For Gillman Honda Houston customers shopping for a Honda electric vehicle (EV), the EV tax credit is an important talking point. This tax credit is a great opportunity for savings while "going green" with your next automobile, but there are multiple facets to it that will no doubt generate some questions that we're happy to answer.

 

What Honda Models are Eligible for the EV Tax Credit?

The all-electric Honda Prologue and plug-in hybrid Honda Clarity are the models that are eligible for the EV tax credit.

How Much is the EV Tax Credit Worth?

The EV tax credit is worth up to $7,500 for Gillman Honda Houston shoppers who purchase the new Honda Prologue. For customers who purchase a pre-owned Honda Clarity PHEV, the credit is worth up to $4,000 or a maximum of 30% of the selling price.

Do I Have Options for How I Use the EV Tax Credit?

Yes, you have two options. You can either apply the EV tax credit on your tax return next year, or you can use it as a down payment or cash towards purchase of an eligible vehicle at the point of sale - in this case, our Houston, TX Honda dealership. The latter choice is a new option that came about as part of the Inflation Reduction Act of 2024.

Who Qualifies?

Every Honda shopper qualifies, provided that they:

• Buy the vehicle for their own use, and not for resale
• Use the vehicle primarily in the U.S.
• Have a modified adjusted gross income that doesn't exceed $300,000 for married couples filing jointly / $225,000 for heads of households / $150,000 for all other filers

Learn More About the EV Tax Credit in Houston Today

If you're shopping for a Honda EV, now is the time to apply for Honda finance and make your purchase. The appeal and affordability of our electric vehicles has never been higher, and Gillman Honda Houston will help you take full benefit of the EV tax credit