2024 Nissan Leaf Qualifies for $3,750 EV Tax Credit
Nissan has certified that the 2024 Leaf meets a battery requirement of the Department of the Treasury’s criteria for the federal electric vehicle tax credit and is eligible for a $3,750 credit if purchased before Dec. 31, 2023.
Related: Federal EV Tax Credits to Be Given at Time of Sale in 2024
Let’s unpack that sentence. Under the Inflation Reduction Act of 2022, EVs can qualify for a tax credit of up to $7,500 if they meet certain criteria. Vehicles qualify for $3,750 if at least 50% of their battery components are produced and assembled in North America. (This is the criterion the Leaf meets.) They qualify for another $3,750 if at least 40% of the critical minerals used in the battery are sourced from the U.S. or a free-trade partner. (The Leaf doesn’t satisfy this requirement.) Those percentages will increase every year, which is why the Leaf is eligible only through the end of 2023.
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Shop the 2024 Nissan Leaf near you
Additionally, there are income caps for buyers to be eligible for the tax credits, as well as MSRP caps that keep buyers of outrageously priced vehicles from leaning on tax payers for a fraction of their down payment. The 2024 Nissan Leaf starts at $29,255 (including destination), comfortably below the $55,000 cap.
With the tax credit, the Leaf’s effective base price now drops to $25,505. The Leaf S has a 40-kilowatt-hour battery good for an EPA-rated 149 miles and a 147-horsepower electric motor. The Leaf SV Plus gets a 60-kWh pack, a 214-hp motor and an estimated range of 212 miles. With a host of comfort and safety equipment, the SV Plus starts at $37,305, or $33,555 after the tax credit.
More From Cars.com:
- What Does the EV Tax Credit Overhaul Mean for Car Shoppers?
- Which Electric Cars Are Still Eligible for the $7,500 Federal Tax Credit?
- Nissan Signs Charging Agreement With Tesla
- Nissan Leaf Carries Over Into 2024 Unchanged, Starts at $29,235
- Here Are the 11 Cheapest Electric Vehicles You Can Buy
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