The Porsche Taycan: What Incentives Are There to Getting One?
You can reduce the cost of the Porsche Taycan by picking one of the many incentives at the federal and state levels.
Written by Serena Aburahma
Reviewed by Kathleen Flear
The Porsche Taycan is one of the most desirable electric vehicles on the market, outselling even the Tesla Model S. The four-door sedan drives like a sports car and combines all of the brand's best qualities to create a practical, smooth ride for self and family. If you love
EVs
and are looking for a realistic electric car with a delightful interior and great handling, this is the car to pick.If you decide to go with the Taycan model, you can pick any of the many incentives available on the market for buying an EV brand. Let's take a look at some of the popular ones as listed by
PG&E
.Porsche Taycan incentives
According to
Clean Vehicle Grants
, the California Clean Fuel Reward program is offered by the California Air Resources Board in a bid to encourage everyone to switch to clean energy. You can save the full $750 if you lease or buy the Porsche Taycan. This is because the car has a battery that is greater than 5 kWh.All you have to do is visit a participating automotive dealer in California and register the vehicle in the same state. The car dealer will apply for the California Clean Fuel Reward, but the rebate is applied differently from the dealer incentives. Ask for an itemized list of incentives to be sure that it has been applied.
On the other hand, the Beneficial State Bank has a special offer for clean vehicle grant recipients to enable them to buy a car with low emissions. It offers loans to eligible participants at 8% interest. There are low fees, and the bank has a fair lending policy.
Porsche Taycan buyers with a favorable credit score can access the loan product if they are unable to pay for the car in cash and save on the loan.
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Porsche Taycan federal tax credit
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According to the
IRS
, electric vehicles acquired after December 2009 draw their propulsion energy from a battery that has a capacity of 5 kWh. The owners get a bigger tax credit at a rate of $417 for each additional kilowatt-hour of battery. The maximum credit that is allowed for the vehicle is $7,500.This
tax credit
is only applied to vehicles that are meant for use and not for either lease or resale. Besides, the original use of the car must commence with the person that applies for the tax credit anywhere in the USA. This offer is only available for new vehicles.Under these Porsche Taycan incentives, the owners are eligible for the full tax credit from the IRS. This is because the vehicle has a 79.22 kWh battery and the model is a BEV model. Therefore, if you are buying the vehicle for personal use, apply for the credit as soon as you make the purchase.
Does the Porsche Taycan qualify for the Consumer Assistance Program?
If you wish to retire your old vehicle in favor of an energy-efficient Porsche Taycan, you may be eligible for the Consumer Assistance Program for Vehicle Retirement. You may receive up to $1,000 to retire the vehicle using a BAR-contracted dismantler, while those that meet the income criterion may receive up to $1,500.
To be eligible for these income-based Porsche Taycan incentives, your gross household income must be equal to or less than 225% of the federal poverty level. Use the free calculator on the government website to check your eligibility. You can also use the incentive to buy some of the cheapest EVs in 2022.
Get the right coverage for your EV
Get the right insurance coverage for your electric vehicle. Insurance should offer reasonable coverage against various risks without making you spend more. The provider should also be reliable and have a reputation for honoring claims.
The
Jerry
app offers a platform where you can compare coverage and prices with ease and complete your sign-up with the click of a button. The insurance broker also has a team of qualified insurance professionals that can help you make the right coverage choice for your car.Are you overpaying for car insurance?
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