Tax Credits Available on Volvo Models
When you shop at Viti Volvo Cars Tiverton, you may be eligible to take advantage of Volvo tax incentives and save on the cost of the vehicle you have your eye on. The new Volvo XC90 is eligible for the Section 179 tax deduction at our Volvo dealership near Westport. Meanwhile, the Volvo S60 PHEV may qualify for an electric vehicle tax credit.
Have questions about how you can claim these Volvo tax deductions? Want to see if your vehicle qualifies for a Rhode Island EV tax rebate? Connect with our Tiverton Volvo dealer to speak with our auto financing team today about your opportunities.
What Volvo Models Qualify for Section 179?
The Section 179 tax deduction was designed by the U.S. government to help small- to medium-sized businesses invest in themselves by allowing them to deduct the costs of vehicles used for business purposes. The Volvo XC90 SUV meets the GVWR (gross vehicle weight rating) of over 6,000 pounds, meaning that it can qualify for a deduction.
If you're interested in financing a new Volvo XC90 in Rhode Island for business purposes, visit our showroom today. Remember that in order to qualify, the vehicle must be purchased and put into service before December 31, 2024.1 It also must be used for business purposes more than 50% of the time and be titled in the company's name.1
What Is the Volvo EV Tax Credit?
Did you know that you can claim a federal tax credit when you buy an all-electric or plug-in hybrid Volvo near Westport from us? If you bought a 2022-2023 Volvo S60 PHEV, you may be able to claim a tax credit of up to $7,500.1
Of course, you don't just have to limit yourself to the federal EV tax credit -- you may also be able to qualify for an EV tax credit in Rhode Island. Eligible EV purchases and leases may be eligible for up to $1,500 through the DRIVE EV Project. Speak with an expert at Viti Volvo Cars Tiverton or consult a tax professional for more information.
Claim Tax Savings at Our Rhode Island Volvo Dealer
For more information about electric vehicle tax credits, contact Viti Volvo Cars Tiverton. Our expert team of auto financing professionals will be happy to answer all your questions about which Volvo models are eligible for Section 179, how you can save on a plug-in hybrid or electric Volvo in Rhode Island and more. We look forward to hearing from you soon.
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1 Information listed here is accurate at time of publishing. Tax credits are subject to change. See dealer for details.