Canada Will Give You A Discount Up To $5,000 On Certain Electric Cars — Here's How To Claim It
Is your new car eligible?
For those planning a new car purchase this year, there are plenty of things to consider: it's a big decision! Thankfully for your wallet, the Canadian and Quebec governments have launched several incentive programs to encourage Canadians to invest in greener cars, especially given the upcoming provincial and national bans on gas-powered cars.
The focus is on zero-emission vehicles, or ZEVs, and you can save thousands on your new ZEV if you use the iZEV and other incentive programs.
What is the iZEV incentive program?
The Incentives for Zero-Emission Vehicles (iZEV) program is a strategy adopted by the Canadian government to offset the higher costs of greener vehicles in the hopes of encouraging Canadians to purchase them.
Officials are constantly updating the list of iZEV-eligible vehicles. In general, the vehicles must be purchased or leased for at least 12 months after the eligibility date, according to the government's website.
Applicable vehicles must be either passenger cars with a base model MSRP of $55,000 or less OR a station wagon, pickup truck, SUV, minivan or van with a base MSRP of less than $60,000.
How much money will iZEV give you, and for which cars?
There are two tiers of iZEV funding, each applicable to a different green(er) vehicle. According to the government website: battery-powered, hydrogen fuel cell and "longer-range" plug-in hybrids are eligible for up to $5,000 off; and "shorter-range" (under 50 kilometres) plug-in electric hybrids are eligible for only up to $2,500.
Are there other Quebec-specific car purchase incentives?
Why yes, there are! Quebec's Roulez Vert program offers rebates on greener vehicles, including electric scooters and motorcycles. The program applies to vehicles whose MSRP is less than $60,000, but the government plans to increase that cap to $65,000 in the near future.
How much can you get from Quebec, and for which vehicles?
All-electric new vehicles with MSRPs under $65,000 are eligible for up to $7,000 in rebates. Plug-in hybrids with the same MSRP are eligible for $5,000, $2,500 or $300, depending on the capacity of the car's battery.
Hydrogen-powered vehicles are eligible for $7,000 in rebates, electric motorcycles are eligible for $2,000, and electric scooters can be discounted by up to $500.
How do you claim the Quebec and iZEV rebates?
To claim Quebec's rebates, you'll need an online account here. The car dealer will apply any applicable rebate when you purchase your vehicle. To claim iZEV rebates, you just have to purchase an eligible car, and the dealer will handle the rest.
This article's cover image was used for illustrative purposes only.
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