What Is the California Clean Vehicle Rebate Project (CVRP)?
The California Clean Vehicle Rebate Project (CVRP) is a popular California electric car rebate that makes buying an electric car or plug-in hybrid more affordable.
Funded by the California Air Resources Board (CARB) and administered statewide by the Center for Sustainable Energy (CSE), the California Clean Vehicle Rebate Project promotes the production and use of zero-emission vehicles, including electric, plug-in hybrid electric and fuel cell vehicles.
At Credit Union of Southern California (CU SoCal), we make buying an electric vehicle easy.
Call 866.287.6225 today to schedule a no-obligation consultation and learn about our auto loans, home equity lines of credit, personal loans, checking and savings accounts, and other banking products. As a full-service financial institution, we look forward to helping you with all of your banking needs.
Read on to learn more about the CVRP California electric car rebate.
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How Does the CVRP Work?
CVRP enables a purchaser or lessee of an eligible vehicle to apply for a CVRP rebate of up to $7,000* for fuel-cell electric vehicles (FCEVs), up to $4,500* for all-battery electric vehicles (BEVs), up to $3,500* for plug-in hybrid electric light-duty vehicles (PHEVs), and up to $750 for zero-emission motorcycles (ZEMs).
(*Amounts shown include increased rebate amounts available to low- and moderate-income consumers.
How Do I Quality for the CVRP?
There are several ways to qualify for the CVRP:
Income. An applicant’s most recent federal tax return (as reflected on their IRS tax transcript) or other proof of income documentation as determined by the administrator may be used to help calculate gross annual income. Applicants are not eligible for CVRP rebates if their gross annual incomes are above the thresholds in the following chart.
Income and vehicle qualification chart:
Be Located in California. Proof of California residency for individuals and business applications.
Choose an Eligible Vehicle. There are three different types of vehicles eligible for the California Clean Vehicle Rebate Project:
Zero-Emissions Vehicles, Plug-in Hybrid Electric Vehicle, and Zero-Emission Motorcycles.
Consecutive Ownership for 30 Months. The rebate applicant must maintain ownership of the vehicle for a minimum of 30 consecutive months immediately after the vehicle purchase or lease date. Regarding leased vehicles, the original lease must be a minimum lease term of 30 months. Rebate recipients who do not retain the eligible vehicle for the full 30-month ownership or lease period will be required to reimburse CARB all or part of the original rebate amount. The vehicle purchaser or lessee is required to notify the Administrator to arrange for early termination of vehicle ownership in advance of intent to sell, return, or terminate a lease prior to the required 30-month ownership period.
For more details about any of the qualifying criteria, click here or call the CVRP Administrator at 1-866-984-2532.
How do I apply for the CVRP?
After purchasing or leasing an eligible vehicle, follow this simple process:
- After purchasing or leasing an eligible vehicle, follow this simple process:
- Add cvrp@energycenter.org to your email safe senders list.
- Submit your CVRP application online. For California state and local government entities, visit CVRP for public fleets to apply.
- Write down your application number.
- Review our sample supporting documents and prepare your supporting documents to submit online.
- Submit your supporting documents online within 14 calendar days of application date.
- Periodically check your status online to ensure you are aware of any further action needed to take your application to approval status. Note: If we find an issue with your application materials, we provide ten calendar days to correct the issue before automatic cancellation. Applicants with applications that cancel because required supporting documentation was not submitted within the required timeframe will need to re-apply.
- Eligibility will be reviewed based on the Terms and Conditions in place at the time a new application is submitted.
- Extensions will not be granted.
When should I apply for the CVRP?
Timing is important when applying for this rebate. Here are some key timing requirements:
- Submit a rebate application within three months after the date of purchase/lease to be eligible for a rebate. The vehicle must be on the eligibility list at the time the vehicle is purchased/leased.
- To apply and be considered as a rebate recipient, you must be a purchaser or lessee of a new, eligible vehicle and submit a CVRP application prior to exhaustion of available rebate funds.
- Any vehicle previously registered is not eligible for CVRP, including vehicles previously used as dealership floor models and test-drive vehicles (demo vehicles).
- The vehicle must have an odometer reading of less than 7,500 miles at the time of purchase.
How much will my rebate be worth?
Use this CVRP Maximum Rebate Amount Chart to determine your rebate.
* Federal poverty level is updated annually, usually in the first calendar quarter of the year. CVRP applies the update on the second Wednesday in July of that year to all applications received on or after that date. The current levels can be found at https://aspe.hhs.gov/poverty-guidelines.
Is the Clean Vehicle Rebate Taxable?
The CVRP is not taxable and you will not receive a 1099 for your rebate. Contact a certified public accountant or tax professional regarding the taxability of the CVRP rebate.
Are Electric Cars Worth It?
Although the initial cost of an electric vehicle tends to be higher than gasoline powered vehicles, electric car rebates in California can make electric cars more affordable. With the rising cost of gas, electric cars might actually be more affordable in the long run. Plus, electric car charging stations are becoming more common and easier to find.
While many electric vehicle car owners choose to install a charging station at home for added convenience, most EV manufacturers provide promotional complimentary or low-cost charging at public charging stations.
California drivers may also be eligible for the
Electric Vehicle (EV) Rebate Program. The California Air Resources Board offers point-of-sale rebates of up to $750 for the purchase or lease of a new all-electric or plug-in hybrid electric vehicle through the Clean Fuel Reward Program. For more information, including vehicle eligibility requirements, see the
Clean Fuel Reward website.
Other
California Alternative Fuel Incentives are available and may be applied for simultaneously.
Where can I get financing for an electric vehicle?
Need financing? Here are the most popular financing options:
- Credit Unions. Credit unions, including CU SoCal, often provide better lower interest rates than traditional banks. A CU SoCal auto loan can put you in the driver’s seat with no loan application or funding fees. Membership is easy! Join now.
- Banks. All traditional savings and loan banks offer auto loans. Check with your current bank for the latest interest rates.
- Online Lenders. While there are many online auto loan lenders to choose from, you’ll need to do some research to make sure you choose one that’s reputable. Working with a trusted lender at a financial institution where you already have an account is safe and convenient, and you’ll get personalized service.
Why Savvy Consumers Choose CU SoCal
For over 60 years CU SoCal has been providing financial services, including
car loans,
mortgages,
Home Equity Loans,
HELOCs,
personal loans,
credit cards, and other banking products, to those who live, work, worship, or attend school in
Orange County,
Los Angeles County,
Riverside County, and
San Bernardino County.
Please give us a call today at 866.287.6225 today to schedule a no-obligation loan consultation with a CU SoCal Member Services specialist.
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