What is the NJ Electric Car Tax Credit?

When you purchase a brand new electric vehicle, not only can you save big on fueling costs—but also taxes! In fact, eligible models qualify for NJ electric car tax credits, which can help you cover costs of everything from charging to installation to vehicle financing. Get to know the current incentives for drivers around Ridgewood and Jersey City, and be sure to visit Land Rover Paramus to learn more about your options.

NJ Electric Car Tax Credit Options and Incentives

The state of New Jersey wants to make greener driving easier than ever, so drivers are eligible for a wide range of benefits. From discounts on home charging setup to commuting advantage for Fort Lee-area roads, the state covers all bases to make sure you can navigate with total peace of mind. Some of the transportation benefits include:

• Charge Up New Jersey: Drivers have received incentives up to $5,000 with the purchase or lease of a new electric vehicle in New Jersey. This is one of the most generous electric vehicle rebates in the entire country!
• Zero Emission Vehicle (ZEV) Tax Exemption: Drivers can save 6.625% on the sale, lease or rental of a new or used battery electric vehicle. Plug-in hybrid electric vehicles are not included.
• >HOV Lane Access: Electric vehicles can drive in the high-occupancy vehicle lanes, regardless of the number of passengers in the vehicle.
• >Green Pass Discount: EV drivers receive reduced toll rates, including a 10% discount on the off-peak rate for the New Jersey Turnpike and Garden State Parkway.
• >Residential Electric Vehicle (EV) Charging Station Installation Rebate: PSE&G offers residential customers a rebate of up to $1,500 for the behind the meter installation of a Level 2 EV charging station, so they can easily charge from home.

Find Out More with Land Rover Paramus

Want to learn more about the latest NJ electric car tax credit benefits? Are you ready to pick out your next fuel-friendly vehicle? Stop by Land Rover Paramus in Paramus to find out more about your options, and allow the team at Paramus to get you ready for the open roads ahead. Contact us to learn more or apply for financing ahead of your visit!