California Currently Testing Out Pre-Approved Electric Car Rebate
Back in May 2017, California announced that it would soon start testing out an electric car rebate that would be applied to a vehicle’s price tag during the point of purchase. As of January 30th, San Diego has officially launched the new rebate, as John Voelcker with Green Car Reports articulated.
This new type of rebate is designed to increase electric vehicle (EV) purchases nationwide. You might be wondering why an additional rebate might be necessary, considering that the U.S. already has a tax break applicable to EV purchases. However, this rebate can take up to 15 months for a consumer to use, depending on when they bought the car and filed their taxes.
The new “point of purchase” electric car rebate that San Diego is experimenting with will provide a faster reward for those who buy an EV. While seven out of ten EV buyers participate in the tax credit route, the new pre-approved electric car rebate promises to be even more popular with consumers, to bring about even more EV sales.
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The rebate program is headed the Center for Sustainable Energy, based in San Diego, hence the reason that this city was chosen to kick off the testing.
Exactly how does it work? The rebate process starts when a consumer shops a dealership online and selects an EV model. The point-of-purchase technology that includes the rebate then syncs with the preapproval application of the consumer.
Next, the Center for Sustainable Energy scans the application and approves the buyer via email. The consumer visits the dealership in-person where a representative confirms the exact rebate amount they’re qualified for. The staff member then applies that discount to the vehicle’s purchase price.
Hopefully, more states will follow in California‘s wake and start offering complementary incentives for residents to buy EVs.
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News Source: Green Car Reports