7 Models at Miami Lakes Automall Qualify for Federal Tax Credits

Miami Lakes Automall is the best place to go car shopping because we sell seven different brands, so we offer hundreds of makes and models, including seven different vehicles that qualify for a federal tax credit. However we have noticed a lot of our customers don’t know what the federal tax credit is, so we’re here to explain.

About the Federal Tax Credit

Vehicles that have a battery large that is enough to power the vehicle are eligible for a federal tax credit, so that includes electric vehicles and plug-in hybrid electric vehicles (PHEVs). The tax credit amount that a vehicle receives is based on the size of a battery and the maximum tax credit is $7,500.

Savings on Top of the Federal Tax Credit

Miami Lakes Automall sells seven vehicles that qualify for the federal tax credit and we expect that number to increase in the the future. Though the federal tax credit is a nice incentive for people to invest in EVs or PHEVs, the savings in fuel costs from driving an EV or PHEV is another great incentive.

Chrysler Pacifica Hybrid Savings

For instance, the Chrysler Pacifica Hybrid is a minivan PHEV and it qualifies for a $7,500 federal tax credit, but its fuel efficiency will save drivers a ton in fuel costs in just one year, and there are huge savings after driving the minivan for five years.

According to fueleconomy.gov, drivers of the Chrysler Pacifica Hybrid can expect to spend about $950 a year in fuel and in five years drivers can expect to save $2,500 in fuel costs in comparison to the average vehicle. However, the Chrysler Pacifica Hybrid can travel up to 33 miles when powered only by its battery, so if a driver doesn’t have a long daily commute or they can charge up while at work, a driver could do a majority of their driving powered by electricity, and that would increase savings a lot.

Savings on All EVs and PHEVs Available at Miami Lakes Automall:

Chrysler Pacifica Hybrid

PHEV
Federal Tax Credit: $7,500
Battery: 16 kWh lithium-ion battery
Total Electric Distance: 33 miles
MPGe: 84 MPGe combined city/highway
Annual Fuel Costs: $950
Savings in Fuel Costs After 5 Years: $2,500
Starting MSRP: $39,995 (plus destination fee)

Chevrolet Bolt EV

EV
Federal Tax Credit: $7,500
Battery: 60 kWh lithium-ion battery
Total Electric Distance: 238 miles
MPGe: 119 MPGe combined city/highway
Annual Fuel Costs: $550
Savings in Fuel Costs After 5 Years: $4,500
Starting MSRP: $37,495 (plus destination fee)

Chevrolet Volt

PHEV
Federal Tax Credit: $7,500
Battery: 18.4 kWh lithium-ion battery
Total Electric Distance: 53 miles
MPGe: 106 MPGe combined city/highway
Annual Fuel Costs: $700
Savings in Fuel Costs After 5 Years: $3,750
Starting MSRP: $34,095 (plus destination fee)

Kia Optima Plug-In Hybrid

PHEV
Federal Tax Credit: $4,919
Battery: 9.8 kWh lithium polymer battery
Total Electric Distance: 29 miles
MPGe: 103 MPGe combined city/highway
Annual Fuel Costs: $800
Savings in Fuel Costs After 5 Years: $3,250
Starting MSRP: $35,210 (plus destination fee)

Kia Niro Plug-in Hybrid

PHEV
Federal Tax Credit: coming soon
Battery: 8.9 kWh lithium polymer battery
Total Electric Distance: 26 miles
MPGe: 105 MPGe combined city/highway
Annual Fuel Costs: $700
Savings in Fuel Costs After 5 Years: $3,750 (plus destination fee)
Starting MSRP: $27,900

Mitsubishi Outlander PHEV

PHEV
Federal Tax Credit: $5,836
Battery: 12 kWh lithium-ion battery
Total Electric Distance: 22 miles
MPGe: 74 MPGe combined city/highway
Annual Fuel Costs: $1,200
Savings in Fuel Costs After 5 Years: $1,250
Starting MSRP: $34,595 (plus destination fee)

Want to come and see what each of these vehicles is like in person? Come by Miami Lakes Automall , and you can test drive all of these vehicles and we can answer any questions you may have!

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