Does the Honda Prologue Qualify for the Electric Vehicle Tax Credit?

Purchasing an electric vehicle (EV) comes with many benefits that go beyond their zero-emissions capabilities. Some EVs, such as the Honda Prologue, offer buyers the chance to take advantage of the federal EV tax credit. Understanding how this tax credit works and its eligibility requirements will help you know if you qualify. Not all EVs are eligible for the tax credit, and some buyers may not meet the requirements. This guide can help you understand whether the Honda Prologue is eligible for the EV tax credit and the savings it offers.

The Honda Prologue

Before we examine the Honda EV tax credit, let’s explore the exciting features and amenities of the new Honda Prologue. This electric SUV has modern appeal, aerodynamic curves, and plenty of room for everyone. With a wave of your foot, the hands-free power liftgate opens to give you access to the cavernous cargo area. Roof rails let you add accessories that boost the versatility of this capable SUV. An EPA-estimated range of up to 308 miles means you can travel around Youngstown, Boardman, and throughout Ohio without worry.

Inside, you and your passengers will appreciate the dual-zone climate control, which allows you to set your preferred temperature. The 60/40-split folding rear seat lets you adjust the seating and cargo arrangements to meet your needs for every trip. Tech features such as wireless Apple CarPlay and Android Auto make it easy to stay connected on the go. You can also upgrade to a dual-motor version of the Prologue for improved traction and handling. This SUV is ready to meet any challenge head on.

Overview of Federal EV Tax Credits

People Looking at a Blue Folder by Antoni Shkraba is licensed with Pexels License

The federal EV tax credit was established to help more buyers gain access to the EV market. It’s available for new and used EVs, although the amount you get will vary depending on which model you buy. Not everyone who purchases an EV will qualify for the tax incentive even if the vehicle does, as there are additional income qualifications for buyers.

Our team can help you determine whether you or the Prologue you want to buy qualify for the federal EV tax credit. We have extensive experience helping our customers take advantage of this savings opportunity, and we’d love to do the same for you.

Does the Honda Prologue Qualify for the Tax Credit?

Yes. The Honda Prologue qualifies for the federal tax credit as long as the model was built after Feb. 26, 2024. This means any brand-new Honda Prologue from this date until 2032 will be eligible for up to $7,500 in savings through the tax credit. If you purchase a used Prologue from 2024, you could receive a tax credit of as much as $4,000. A leased Prologue also qualifies for the full $7,500 tax credit at #1 Cochran Honda Boardman.

To be eligible for the EV tax credit, a vehicle has to meet certain standards. Honda is dedicated to building the Prologue to comply with all standards to meet the requirements for tax credit eligibility.

Eligibility Criteria for EV Tax Credits

Below are more details about the eligibility criteria for the EV tax credit.

Vehicle Requirements

A vehicle must meet these standards to fit the federal government guidelines for the EV tax credit:

• A battery capacity of at least 7 kWh
• A gross vehicle weight rating of less than 14,000 pounds
• Assembly by a qualified manufacturer in North America
• Compliance with mineral and battery component requirements

Additionally, SUVs, trucks, and vans must have an MSRP of less than $80,000, while other vehicles must be under $55,000. If the EV is used, the sale price must be $25,000 or less, and the vehicle has to be at least 2 years old.

Income and Tax Status Considerations for Buyers

Buyers who want to take advantage of the EV tax credit must purchase the Prologue for primarily driving in the U.S. and for personal use. Your modified gross income can’t exceed:

• $300,000 for married couples filing jointly or a surviving spouse
• $225,000 for heads of households
• $150,000 for all other filers

If you’re buying a used EV that qualifies for the tax credit, your modified gross income must be at or below:

• $150,000 for married filing jointly or a surviving spouse
• $112,500 for heads of households
• $75,000 for all other filers

How the Manufacturing Location Affects Eligibility

Updated regulations now require an EV to have its final assembly in North America to qualify for the federal tax credit. Some manufacturers had to switch where EVs were being assembled to meet this requirement, making certain models ineligible. Honda partnered with GM to facilitate a quicker entry to the U.S. EV market. So, the Prologue is manufactured in Mexico using GM-sourced parts for the battery pack.

Potential Savings and Financial Benefits of EV Tax Credits

Here’s a breakdown of the MSRPs for each Prologue trim, including the front-wheel-drive (FWD) and all-wheel-drive (AWD) versions:

Discover the Honda Prologue at #1 Cochran Honda Boardman

The new Honda Prologue is waiting to be discovered at #1 Cochran Honda Boardman. We have a vast inventory of Prologue trims in popular colors for sale on our lot in Youngstown, Ohio. Come by and see this car for yourself, or use our contact form to schedule a test-drive. Our sales representatives will have the Prologue model of your choice ready so you can take it for a spin.