What Are the New York EV Incentives?
The benefits of upgrading to a BMW plug-in hybrid or a fully-electric vehicle, like the BMW i4, are seemingly endless. From their positive environmental impacts to their excellent performance outputs, EVs and hybrids are revolutionizing the automotive industry and saving Bay Shore lots of money on fuel. Although, another major perk of EVs is that in the state of New York, EV drivers are eligible for a number of incentives. Keep reading with Habberstad BMW of Bay Shore as we break down the federal and New York EV incentives. Then, if you have any questions, feel free to reach out to our finance team for assistance.
New York State & Federal EV Incentives
New York Electric Vehicle Rebate
The Drive Clean Rebate ranges from $500 to $2,000, with rebates being higher for all-electric vehicles with long ranges. There are more than 60 models that qualify for this New York EV rebate, so here are the BMW models that you can choose from, if you’d like to be eligible for the rebate:
- BMW 330e
- BMW 330e xDrive
- BMW 530e
- BMW 530e xDrive
- BMW 740e xDrive
- BMW 745e xDrive
- BMW i3 (2019, 2020,2021)
- BMW i3 REx (2019, 2020,2021)
- BMW i3s
- BMW i3s REx (2019, 2020,2021)
- BMW i4
- BMW iX
- BMW X3 xDrive30e
- BMW X5 xDrive45e
All of these BMW models are eligible for a $500 New York EV rebate!
Electric Car Federal Tax Credit
The federal government is also encouraging drivers from the Bay Shore area and beyond to upgrade to a hybrid and EV by offering income tax credits. With this incentive, drivers can save up to $7,500 on a hybrid or EV. Here are the BMW hybrids and EVs that qualify of the federal credit, as well as how much you can potentially save:
- BMW 330e / 330e xDrive: $5,836
- BMW 550e / 550e xDrive: $5,836
- BMW 740e xDrive: $4,668
- BMW 745e xDrive: $5,836
- BMW i4: $7,500
- BMW iX: $7,500
- BMW X3 xDrive30e: $5,836
- BMW X5 xDrive45e: $7,500
If you combine the New York EV tax credit and the federal EV tax credit, drivers from the Babylon and West Islip areas can save up to $9,500.
Shop for a Hybrid or Electric BMW with Habberstad BMW of Bay Shore
Have any questions regarding the New York electric vehicle rebate? Want to test drive some of the BMW models that qualify for the federal EV tax credit? Give Habberstad BMW of Bay Shore a call at 866-565-1564. Our team will help you find the perfect hybrid or electric BMW!
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