Electric Porsche Tax Credits at Porsche Princeton
Due to some recent legislative changes, current federal EV tax credits are set to expire on September 30, 2025.1 If you've been planning to upgrade, reach out today and claim your savings while you can. Our expert team will guide you through every step, ensuring you benefit from all currently available incentives as you upgrade to an electric Porsche in New Jersey.
Don't wait any longer -- visit Porsche Princeton today and see why right now is the best time to upgrade to a new Taycan, Macan Electric or another Porsche EV in Lawrence Township.
Federal EV Tax Credit Benefits
For lessees of qualifying new electric Porsche models, you may currently be eligible for up to a $7,500 tax credit, which can be taken directly at the point of sale. Used EV incentives may also be available on qualifying pre-owned cars through this same federal program.
These incentives have boosted the accessibility of Porsche EVs in New Jersey and nearby areas -- yet these EV federal tax credits will end after September 30, 2025. After that date, savings through this program will be permanently unavailable.1
Key benefits of the current incentive program include:1
- Up to $7,500 in federal tax credits for taking ownership of a qualifying new electric car
- Up to $4,000 in federal tax credits for a qualifying used electric car purchase
- Option to claim savings immediately at point of sale
- Additional savings may be available through New Jersey State EV incentives
Auto Loan Interest Deduction After Expiration
With the impending expiration of EV tax credits, new federal legislation has introduced revised automotive tax benefits. This rule states that buyers may deduct up to $10,000 in paid interest annually on qualifying new car loans.
Key qualification factors for the auto loan deduction include:1
- Income limits: Single filers under $100,000; joint filers under $200,000
- Eligible vehicles: Only new vehicles weighing less than 14,000 pounds qualify
- Manufacturing requirement: Must be built in the United States
This new benefit presents ongoing advantages for anyone interested in luxury car financing options. That said, these incentives differ significantly from the expiring EV-specific credits. To compare both options and see which is most beneficial to you, reach out to our Lawrence Township Porsche Center today.
Buy a New Porsche EV in New Jersey Today
The September 30, 2025, EV tax credit deadline is coming soon -- and waiting to lease or finance a new electric car could mean missing out on up to $7,500 in federal tax credits forever.
The Porsche Princeton team is prepared to streamline your purchase and ensure you access every available incentive you can. Contact us today to arrange a one-on-one consultation or book Macan Electric test-drive at our showroom and join the future of electric automotive performance.
Read More: Porsche Macan Electric Comparison | Porsche Lease vs. Financing Options | Section 179
1 Please consult our Porsche Center for complete details on all tax credit qualifications and available financing options. Federal and state incentives are subject to individual eligibility.