If You've Purchased an Audi e-tron, You May Qualify for an Exclusive Federal Tax Credit

If you're one of the thousands of drivers across the country that has made the jump to Audi's first-ever all-electric SUV, then you've no doubt been enjoying the impressive performance, standard features, and environmentally friendly fuel economy that the e-tron has to offer. However, while you're busy turning heads on the highways and byways, tax time is approaching, and it's always important to have as many advantages on your side as possible.

You may not be aware, but when you make the decision to purchase an all-electric or plug-in hybrid vehicle, you may qualify for a federal tax credit. While this tax credit is applicable for a wide range of electric and hybrid vehicles, owning an Audi e-tron allows you to qualify for the full amount of $7,500.

This tax credit amount typically varies depending on the capacity of the battery that powers the vehicle, but since the e-tron SUV is so new and robust, it easily qualifies for the maximum amount. Other Audi models qualify for this tax break as well; the Audi A3 e-tron and the Audi A3 e-tron ultra. These models ran from the model year 2016 through 2018 before the e-tron SUV was released this year.

Are There Any Conditions Where I Can't Get the Tax Credit?

There are several caveats to getting this tax credit that you need to be aware of. The first, and perhaps most obvious of these is that if you lease an Audi e-tron, you cannot get the tax credit. Instead, these tax credits are applied to Audi, since they are the ones providing the lease to you.

The second thing you need to be aware of is that if you purchased the e-tron with the intention of reselling it, the credit is not applicable. You e-tron should be used primarily in the United States, which if you're buying from us, shouldn't be a problem.

In terms of specs, the Audi e-tron more than surpasses the minimal battery pack wattage required for the tax credit. The minimum wattage required is four kWh, and the e-tron has 95 kWh, so that's not anything you need to be concerned about.

Another thing to keep in mind is that if you don't buy the Audi e-tron new, you can't get the tax credit. The government has prohibited the ability for EV tax credits to be passed on, which means all used, loaner, or demonstrator cars are not eligible for the credit. This is something to keep in mind when deciding to buy new or used.

Are There Any State Tax Credits I Can Get?

Yes, there are. The state of Colorado is quite amiable to in-state drivers looking to get tax credits on plug-in electric vehicles, and you can get one no matter if you are financing or leasing. The Audi e-tron gets you a $5,000 tax credit for financers and $2,500 for lessees. These amounts are subject to change for the tax year 2020 and beyond, but for 2019, you're all good.

Tax time is fast approaching, and it's never too soon to learn what your benefits are.

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