Choosing a Hyundai electric vehicle is a smart move for Massachusetts drivers -- offering lower emissions, innovative designs and exclusive financial incentives. Whether you're interested in the IONIQ 5 or a versatile hybrid like the Santa Fe Hybrid, Mastria Hyundai of Plymouth is here to help you navigate the latest EV tax credits and buying programs.
Come by our Hyundai dealership near Raynham to speak with our expert team and find out how you can get the most value out of your new electric Hyundai.
Is the Federal EV Tax Credit Ending?
Yes, the federal Clean Vehicle Tax Credit is scheduled to end on September 30, 2025. Be sure to purchase an eligible Hyundai EV before this date to take advantage of major tax savings! The current incentive applies to both new and used electric vehicles for personal or business use.1
Are EVs Eligible for the New Auto Loan Interest Deduction?
Yes, now through December 31, 2028, you may be eligible for the new Auto Loan Interest Deduction. This allows you to deduct up to $10,000 in annual interest for qualifying loans.1 Many new personal-use vehicles are eligible, including EVs, hybrids and gas-powered models, so long as they've undergone final assembly in the United States.
New Hyundai models like the IONIQ 5 and Santa Fe Hybrid are assembled in the U.S. at domestic Hyundai manufacturing plants, so they may be eligible for this deduction.1
How Do I Claim My Electric Vehicle Tax Credit?
If you purchase a new Hyundai EV before September 30, 2025, you may qualify for a federal tax credit of up to $7,500.1 This tax credit can be claimed when you file your federal return for the year in which you bought your electric vehicle.
Are There Massachusetts EV Tax Credits?
Yes! Massachusetts residents may qualify for the MOR-EV program, which provides rebates between $3,500 and $6,000 on eligible new EV purchases or leases.1 This can be combined with federal tax credits for even greater savings.
Are Used EVs Eligible for Federal Tax Credits?
Eligible pre-owned EVs may receive a federal tax credit of up to $4,000 if purchased before the deadline September 30, 2025.1 Check with Mastria Hyundai of Plymouth for used electric cars that are eligible for this incentive.
Which Hyundai Electric Vehicles Qualify for Tax Credits?
Currently, the Hyundai IONIQ 5 and IONIQ 9 are eligible for the New Clean Vehicle Tax Credit until it expires.1 The Santa Fe Hybrid and IONIQ 5 (if assembled in the U.S.), may qualify for the Auto Loan Interest Deduction.1 Our team can verify eligibility for your preferred model.
Buy a New Hyundai EV Near Raynham
The experts at Mastria Hyundai of Plymouth are here to assist with any questions regarding federal, state and auto loan incentives for your Hyundai EV or hybrid. We'll help you understand tax credit requirements, process the paperwork and identify the latest offers.
Contact our MA Hyundai dealer today to schedule a test-drive or speak with our finance team about maximizing your EV savings. We're proud to be your local resource for Hyundai electric and hybrid vehicle incentives!
Learn More: EV Education | Hyundai Financing Center
1 Information listed here is accurate at time of publishing. Tax credits are subject to change.