New Jersey Electric Vehicle Tax Credit

If you’re looking to save on your Brick commute, then you’ve probably considered driving an electric vehicle (EV) to cut down on the need for fuel and therefore cut down on fuel costs. However, driving an electric vehicle can actually help you save even more than you may have originally thought. Learn about the potential NJ tax credit for electric vehicles with Honda of Toms River, and see how you can apply the potential savings on your electric vehicle. After learning about the benefits of NJ EV tax credits, visit our dealership to find your own hybrid or electric vehicle. 

How Much Can NJ EV Tax Credits Save You?

To promote clean driving and fewer carbon emissions, Charge Up New Jersey is offering incentives for Manahawkin-are drivers with electric vehicles, but how much can they save? When you apply for the potential New Jersey electric vehicle tax credits, you’ll be able to save up to a total amount of $5,000*. The NJ EV tax credit system gives you up to $25 of incentives for every mile of EPA-rated all-electric range. If you drive a vehicle with an electric range of over 200 miles, and you multiply each mile by $25, then you’ll be able to receive up to $5,000. For more questions about any potential savings from this program, reach out to our finance center at Honda of Toms River. 

NJ EV Tax Credit Program Requirements

How can you apply for the NJ tax credit for electric vehicles? Here are the requirements to be eligible for the program:

• The vehicle must be ordered, purchased, or leased after 07/06/21, which is when the point-of-sale program launched.
• The vehicle must be registered in the State of New Jersey in your name.
• Your name has to be on the purchase or lease agreement.
• The purchase or lease agreement must be from a participating New Jersey dealership or showroom.
• You must provide proof of New Jersey residency by providing a state driver’s license.
• For active-duty military members stationed in New Jersey but with permanent residency in another state, military orders may be used as proof of residency.
• It must be a new battery-electric or plug-in hybrid electric vehicle.
• The vehicle must have an MSRP** of below $55,000.

How to Get Your NJ EV Tax Credits

To get your NJ tax credit for electric vehicles, follow these steps:

• Choose an eligible electric vehicle. 
• Choose an eligible dealership in the Berkeley area. 
• Apply for the incentive program at the point of sale with your chosen dealership. 

Instead of searching all over for a dealership around New Jersey, visit Honda of Toms River in Toms River. We’ll go over all of your electric vehicle tax credit questions and anything else you may need. Visit us today to get started, and apply for financing online. 

Get Your NJ EV Tax Credits at Honda of Toms River

Ready to save with the NJ tax credits for electric vehicles? Learn more about the New Jersey electric vehicle tax credits and all of the ways you can save on an electric vehicle when you contact us today.

*The total incentive amount for an eligible vehicle is $25 per mile of EPA-rated all-electric range, as determined by fueleconomy.gov up to $5,000 for vehicles with a MSRP under $45,000, or up to $2,000 for vehicles with a MSRP between $45,000 and $55,000. Vehicles with an electric range of over 200 miles are eligible for an incentive of up to $5,000, depending on vehicle MSRP. See the program Terms and Conditions for more information on incentive amounts.

**MSRP cap is in reference to the final MSRP of the vehicle. See the program Terms and Conditions for more information regarding the MSRP and how it is defined.