Get an extra $5000 off EV’s and up to $2500 on Hybrids this may- available on most vehicles.
In an effort to reduce emissions and pollution on the road, the Canadian government has activated a ‘Zero Emission Initiative’ known as the IZEV program to curb the cost of hybrid and fully electric vehicles. Expect up to $5000 off certain qualifying models depending if you’re leasing or financing.
To be eligible for the Incentives for Zero-Emission Vehicles program, you have to purchase or lease:
- a vehicle with six seats or fewer, where the base model (trim) Manufacturer’s Suggested Retail Price (MSRP) is less than $45,000;
- higher priced versions (trims) of these vehicles, up to a maximum Manufacturer’s Suggested Retail Price (MSRP) of $55,000, will also be eligible for purchase incentives
Or
- a vehicle with seven seats or greater, where the base model Manufacturer’s Suggested Retail Price (MSRP) is less than $55,000;
- higher priced versions (trims) of these vehicles, up to a maximum Manufacturer’s Suggested Retail Price (MSRP) of $60,000, will also be eligible for purchase incentives;
The Tesla model 3 has recently been added to this list.
Taken from the government website:
How to receive the incentive
The purchase incentives for zero-emission vehicles will be applied at point-of-sale (i.e. at dealerships or online) directly on the bill of sale or lease agreement of eligible vehicle purchased or leased on or after May 1, 2019. Your dealership will be responsible for completing the documentation required to receive the incentive.
The federal purchase incentive for zero-emission vehicles will be applied in addition to any provincial zero-emission vehicles incentive offered.
Learn more about the vehicles that qualify here.
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