Electric vehicles

Yes, if you and the vehicle you are purchasing meet the IRS's qualifications, your purchase of that qualified used electric vehicle could enable you to get a federal income tax credit of either $4,000 or 30% of the price of the vehicle, whichever is less.

The Treasury Department has specified vehicle eligibility requirements, including that the vehicle's sales price must not exceed $25,000. The sales price includes all dealer-imposed costs or fees not required by law. It doesn't include costs or fees required by law, such as taxes and registration fees. MaxCare and GAP are not included in the sale price. 

Other qualifications, including annual income limitations, also apply to the vehicle purchaser. For information on these and all other eligibility requirements, please visit the  IRS Website.

Note: CarMax is not currently offering the option to transfer an EV tax credit as a down payment. CarMax is registered with the IRS to submit qualifying vehicle purchases in the IRS Clean Energy portal, enabling qualified customers to claim the tax credit on their taxes for the year.  CarMax cannot provide tax advice. Consider consulting an accountant or tax attorney with questions about this tax credit.

Read more about the EV tax credit here. 

With the proper cable (typically included with the car), you can plug into a common 120V power outlet and gain 3-5 miles of range per hour charged.  If you drive 20-30 miles per day, you can plug your BEV in each night and regain the range used during the day.

If you want a faster charge you can explore upgrading to a 240V system, which typically provides 10-20 miles of range per hour charged. For any modifications to your home’s power system, consult an electrician to add 240V outlets, installed charging boxes, and ensure your home can support the proper amperage.

A variety of factors can contribute to the longevity of an electric vehicle's battery, though some contributors are age of the battery, temperature exposure over time, number of charging/discharging cycles, and times the battery has been fully discharged.

The three most common charging plugs that have been offered on BEVs and PHEVs are as follows:

CCS / J1772 – The CSS / J1772 plug has been the most common in North America and had been the market standard until 2023.  It has two variations, the standard J1772 plug with 5 pins that supports Level 1 and 2 charging, or the enhanced CCS (Combined Charging System) plug that adds 2 pins (for 7 total) and supports DC fast charging. 

NACS – While used only by Tesla until 2023, most automakers have announced they’ll switch future models sold in the US to use NACS (North American Charging Standard).  The NACS plug is smaller than the CCS and, for some, easier to handle.

CHAdeMO – The “Chad Mo” plug is a Japanese-market standard and was used on early BEVs/PHEVs like the Nissan Leaf and Mitsubishi Outlander PHEV, though both automakers have said they'll move to other standards in North America.

The CCS, NACS, and CHAdeMO all support DC fast charging; however, when using a public fast charger you’ll need to find one that has the appropriate plug for your vehicle.

Charging costs vary based upon time, place, state of charge, and total battery size; however, it's typically cheapest to charge at home than through third-party fast chargers.

You can estimate the cost to charge a full electric vehicle in your area with our EV charging cost calculator.

EV battery life depends on many things, including the make, model, use, condition, and maintenance of the vehicle. The battery will experience some degradation over time (just as internal combustion engines experience some degradation as they age); however, a majority of electrified vehicles on US roadways are younger than 8 years so we don’t yet fully know.  

The US government mandates manufacturers provide warranties for the batteries in full EVs, PHEVs, and HEVs for 8 years or 100,000 miles, whichever happens first (you can read more on the EPA’s website). 

There are three primary types of cars and trucks with electric power:

HEV - Hybrid Electric Vehicles (commonly 'hybrids')

HEVs feature a conventional internal combustion engine (ICE) powered by gasoline combined with a supplemental battery that doesn't need to be plugged in. The Honda Insight and Toyota Venza are examples of HEVs.

PHEV - Plug-In Hybrid Electric Vehicles (commonly 'plug-in hybrids')

PHEVs are similar to HEVs with a conventional engine and electric motor but have two primary differences: longer EV-only range and can be plugged in to recharge their battery (but most don't have to be – the battery can recharge as a typical HEV does).

PHEVs are well liked because for most of their driving they can operate in EV-only mode, but can engage the ICE when driving longer distances or needing more power. The Ford Fusion Energi, which has an EPA-estimated EV-only range of 26 miles for 2019 and 2020 model years, is an example of a PHEV.

BEV - Battery Electric Vehicles (commonly what people mean when they talk about 'EVs')

BEVs use a battery and electric motor are used for propulsion instead of a conventional internal combustion engine (ICE). The Tesla Model 3, Ford Mustang Mach-E, and Volvo XC40 Recharge are examples of BEVs.

There are several benefits to an electric car but for many, they might seem like a big step. Whether you want to live a more green-conscious lifestyle or just want to stop taking frequent trips to the gas station, an electric car is an excellent choice with a variety of options whether you want a sleek luxury, a practical SUV, or a compact for daily driving.

If you're interested in an electric vehicle (EV) and want to keep researching, you're in the right place: here's what you need to know about how to buy an electric car.

Energy must be used to get any vehicle up to speed, and typically that energy comes from either a fuel source or battery pack in your car. 

With a traditional braking system, pushing your foot on the pedal triggers the brake components to compress together, creating resistance to slow your vehicle's wheels. Any energy you had used to get up to speed is then lost as heat. 

With a regenerative braking system, your wheels are connected to a motor that recaptures some of the energy used to get your vehicle up to speed, which is then converted back to stored power in the battery—hence the name 'regenerative'. 

Most electric vehicles, including full EVs, HEVs, and PHEVs, feature both braking systems and allow you to select whether to use both or only regenerative braking. Because most regenerative braking systems kick in immediately after releasing your accelerator pedal (no need to apply the brake pedal) you can drive while using your traditional brakes significantly less often; this is commonly called one-pedal driving.