The 2021 Ford Mustang Mach-E is an all-new electric vehicle (EV) with plenty to offer eco-conscious shoppers. But when it comes to pricing out this SUV, you may be asking, is the Ford Mustang Mach-E eligible for EV tax credits? Let’s find out.
How EV tax credits work
Before jumping into whether the 2021 Ford Mustang Mach-E is eligible for EV tax credits, let’s talk about what these credits actually are. According to the U.S. Department of Energy, EVs and plug-in hybrids purchased new after 2010 may be eligible for the federal EV tax credit. The credit maxes out at $7,500.
Unfortunately, it’s not quite that simple. As it turns out, not all EV tax credits are available to all buyers or on all vehicle models, says U.S. News & World Report. In fact, the amount of tax credits you qualify for depends on your tax status, making it essential to talk to a tax professional before finalizing your purchase.
To qualify for the EV tax credit, EVs and plug-in hybrids must also come equipped with battery packs rated for at least 4 kWh of energy storage and must be recharged using an external source, Edmunds reports. Further, once more than 400,000 models of a particular vehicle model are sold, it’s no longer eligible for the federal EV tax credit.
Save money on the Mustang Mach-E with EV tax credits
Yes, the 2021 Ford Mustang Mach-E is, in fact, eligible for EV tax credits. Opt for the base model Mach-E, which starts at $42,895, and taking advantage of EV tax credits can save you up to $7,500. All in all, Ford says, if you’re eligible for it, the federal EV tax credit could get you behind the wheel of the all-new Mach-E for as low as $35,395.
As a matter of fact, the same goes for all trim levels. Take, for example, the California Route 1 model. Upgrade to this particular trim level and taking advantage of EV tax credits could have you spending roughly $42,900 on a model that typically costs $50,400.
However, keep in mind that your mileage will vary when it comes to taking advantage of these tax credits. As reported by U.S. News & World Report, the number of credits you qualify for depends on your tax status.
2021 Ford Mustang Mach-E features
Sure, the 2021 Ford Mustang Mach-E starts at $42,895 and is eligible for EV tax credits, but what does it actually have to offer? Quite a lot, as it turns out. It comes with a standard range 75.7 kWh battery and is available with an extended-range 98.8 kWh battery. While the standard battery delivers 230-miles of range, the extended battery offers up to 305 miles of range.
Car and Driver reports that the Mach-E boasts fast-charging capabilities too. In fact, as Car and Driver explains, all models are standard with a mobile charger that adds up to 30 miles of range when charged at night. Use a 120-volt outlet, and it restores up to 80 percent of the battery’s life overnight.
Now, range and charging times are undoubtedly important. What’s equally important, however, are the Ford Mustang Mach-E’s standard features. The good news is that the Mach-E comes stock full of standard features, including Ford Co-Pilot360 2.0 driver-assist technology and a 15.5-inch touchscreen featuring SYNC 4A.
Should you choose the 2021 Ford Mustang Mach-E?
There’s no denying that the 2021 Ford Mustang Mach-E has a lot to offer those on the hunt for a new EV. It provides plenty of range and is eligible for EV tax credits. To determine whether or not this all-new model is the right fit for you, we recommend taking it out for a test drive.
Business News Governmental News Finance News