Oregon EV Rebate: A Complete Tax Credit Breakdown
In Oregon, approximately 1000 electric vehicles are sold every month. Unfortunately, not all of these EV buyers know about all the incentives available. So, here is a quick breakdown.
At a Glance:
1️⃣ Oregon residents who buy or lease an electric vehicle may qualify for a $2500 rebate.
2️⃣ Low to moderate-income residents may qualify for an additional $5000 rebate.
3️⃣ Utility providers offer rebates for the installation of charging stations. Plus, the federal EV charger tax credit still applies.
You might qualify for some of these programs, so let’s discuss everything you need to know, including how to start claiming your rebates.
Does Oregon Offer An Electric Vehicle Rebate?
Oregon has several programs available. Some of these programs are overseen by the state, while utility providers see to others, such as charging station rebates. Apart from the federal electric vehicle tax credit Oregon offers a rebate of up to $7500.
All residents qualify for $2500, while low to moderate-income households may qualify for an additional $5000.
Additionally, Oregon residents with qualifying electric vehicles may be eligible for a reduced road tax. To find out more about the reduced road tax, read this article.
How To Qualify For Oregon EV Rebates
Applicants need to meet certain criteria. Here is a quick rundown of everything that you need to qualify:
- To get Oregon’s EV rebate, you should live in Oregon and buy or lease an electric car that’s brand new to the state.
- The car has to have a battery that’s at least 10 kWh and can drive at least 30 miles on a single charge.
- You must buy or lease the car from a licensed dealer in Oregon.
- You should register and title the car in Oregon.
- Your gross household income must equal or be no more than 400% of the federal poverty level. You can use the income eligibility calculator to see if you qualify.
- The rebate is available on a first-come, first-served basis, and there’s only so much funding to go around.
- The total amount of the rebate depends on the car’s battery capacity and your income ($2,500 for new cars; $1,500 for used cars).
How To Claim The Oregon EV Rebate?
With all this information, I guess the next step is to help you get ready to submit your application form. Here is a step-by-step guide on how to claim the Oregon electric vehicle rebate:
- Purchase or lease an eligible electric vehicle.
- Complete the Oregon Clean Vehicle Rebate Program application form.
- Submit required documentation, such as vehicle registration and proof of residency.
- Wait for application approval, which can take up to 90 days.
- If approved, receive a rebate check in the mail within six to eight weeks.
If the vehicle you are interested in and want to purchase does not appear on the eligible electrical vehicle list, the best thing to do is to speak to the dealer from where you plan to get the vehicle.
What Are The Benefits Of Oregon’s EV Rebates?
The main benefit is that these rebates encourage people to buy electric vehicles, which are better for the environment. Fewer fossil fuels being used means fewer greenhouse gases.
Another primary benefit is that more people can get better cars. Many people across the United States must consider buying used vehicles because they simply cannot afford a new one or at least the one they want. However, these rebates increase the affordability factor.
Finally, electric vehicles have a slight economic boost; you can see this in the EV charging market.
How Long Does It Take To Get The EV Rebate In Oregon?
The more people decide to go green and get an electric vehicle, the more applicants there are. This means that the wait times become longer as time goes on. The suggested waiting period is up to 90 days.
That said, as of writing this article, the wait time is approximately two months. It is important not to submit a second application as this can cause problems with your initial application.
Do Electric Cars Pay Road Tax In Oregon?
Electric vehicles still pay road tax in Oregon. However, they pay a reduced road tax. When purchasing your electric vehicle, typically, you would pay your road tax in advance for up to three years.
The amount you pay as an electric vehicle owner or high mile-per-gallon car owner will be roughly $43 annually. So, while the difference is not significant, neither is the amount you pay relative to the price you pay for your car.
1️⃣ Oregon offers several rebates and incentives for electric vehicle buyers, including up to $7,500 in rebates and reduced road taxes.
2️⃣ To qualify for the rebates, the applicant must meet certain eligibility criteria, such as living in Oregon, buying or leasing a new electric car, and registering and titling the car in Oregon.
3️⃣ The rebates are available on a first-come, first-served basis, and the total amount of the rebate depends on the car’s battery capacity and the applicant’s income.
4️⃣ To claim the rebates, the applicant must complete the Oregon Clean Vehicle Rebate Program application form and submit the required documentation.
Overall, owning an electric vehicle in Oregon is much cheaper than in most other states, thanks to the various rebates and incentives available.
The benefits of the rebates include encouraging people to buy electric vehicles, which are better for the environment, increasing the affordability factor, and boosting the EV charging market.