Thinking about switching to an electric vehicle in NYC? At Volvo Cars Brooklyn, we make it easy to understand the latest federal and state tax credits, so you can get the most value when choosing a new Volvo EV. While the federal Clean Vehicle Tax Credit may be expiring soon, there are still other ways for you to save on a new Volvo electric car or SUV.
Find out more about available EV incentives and savings options from the team at our Volvo dealership in Brooklyn!
Federal EV Tax Credit Updates for Brooklyn Drivers
The federal Clean Vehicle Tax Credit will be coming to an end on September 30, 2025. While new Volvo models currently aren't eligible for this credit, many of the used electric cars on our lot may qualify for tax or point-of-sale savings. That means now is the perfect time to shop for an EV in Brooklyn and take advantage of substantial tax savings before incentives expire.
Depending on your eligibility and model, you could claim up to a $4,000 tax credit on your pre-owned electric vehicle.1 Popular vehicles like used Volvo XC60 and XC40 Recharge models may qualify, so be sure to check in with our auto financing team before September 30th!
Auto Loan Interest Deduction
While the federal EV tax credit may be coming to an end, there is a new Auto Loan Interest Deduction that will allow buyers to deduct up to $10,000 in annual interest for new car loans. Qualifying models include electric vehicles, hybrids and Internal Combustion Engine (ICE) models assembled in the United States.1
Because some electric Volvo models like the EX90 are assembled at the Volvo South Carolina factory, you may be able to take advantage of this new way to save on an EV when you shop with us. Our Volvo sales team can help you explore which options are eligible and how to claim these benefits.
New York Electric Car Rebates
New York is one of the best places to own and buy an electric car. That's because the state of New York offers the Drive Clean Rebate, which offers drivers up to $2,000 off the purchase or lease of over 60 new EVs. It's a great incentive for New York Volvo fans who want to make the switch to electric.1
Why Go Electric with Volvo Cars Brooklyn?
There are many reasons to buy a new Volvo EV in Brooklyn from us, but some of the top benefits include:
- Local expertise on NYC & NY State incentives
- Hassle-free guidance through the federal tax credit process
- Test-drives of the latest Volvo electric SUVs
- Experience emissions-free driving
- Lower fuel and maintenance costs
- Exceptional customer support before and after the sale
Buy an Electric Volvo in NYC
Contact Volvo Cars Brooklyn to schedule a test-drive, learn more about Volvo EV tax credit eligibility or order your new Volvo electric SUV. Take advantage of major tax savings and join the movement toward cleaner, smarter driving throughout New York City!
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1 Information accurate at time of publishing. See dealer for details.