If you’re in the market for a used car and want to score a nice discount, consider getting a plug-in hybrid vehicle that qualifies for the federal tax credit
Buying a plug-in hybrid vehicle, or PHEV, can be a great way to ensure fuel efficiency. These are hybrid vehicles that drive just like a regular hybrid but have a chargeable battery that allows you to first drive a short distance on all-electric power. Frequently charging the battery at home can significantly reduce your gasoline use. The issue a lot of shoppers encounter, however, is price. A new PHEV is typically a lot more expensive than a regular hybrid. That’s where buying a used plug-in hybrid comes into play.
Enough PHEVs have now hit the used market that finding one isn’t much of a problem. In addition, used versions qualify for the same federal tax credit that used electric vehicles qualify for. You can get up to $4,000, or 30% of the sales price, off a used plug-in hybrid. To qualify for the federal tax credit, the plug-in hybrid you’re interested in must: 1) be purchased from a licensed dealership; 2) cost $25,000 or less; and 3) be at least two model years old from the current year.
The car experts at Edmunds rounded up five of their top used plug-in hybrid picks. The estimated price ranges listed below are what you can typically expect to pay at a nationwide no-haggle dealership such as CarMax or Carvana.
The Prius Prime is the plug-in hybrid version of the regular Prius hybrid. The previous generation Prius Prime, or the 2017 through 2022 model years, qualifies for the tax credit. The older Prius Plug-in Hybrid model and the current Prius Prime don’t qualify.
The Prime provides a respectable EPA-estimated electric driving range of 25 miles. But
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