New Jersey residents no longer qualify for a $4,000 state rebate on the purchase of a new electric vehicle (EV). The program, a victim of its own success, is out of money for the year.
A website for the Charge Up New Jersey program explains, “All available funds for fiscal year 2022-23 have been expended by ordered, purchased or leased vehicles.”
Many states, some counties, and some electric utility companies offer programs to help with the purchase of a new electric car.
Related: Electric Car Rebates and Incentives: What To Know by State
If you’re in the middle of negotiating a purchase, you’re too late. But if you just bought a car, you might squeeze in under the closing door. The site notes, “Dealerships and Showrooms will have until 9:00 p.m. EST Monday, May 1st, 2023, to submit applications for vehicles ordered, purchased or leased on or before April 17th, 2023.”
Related: How Do Electric Car Tax Credits Work?
The program provides state residents up to $4,000 toward the purchase of a new EV. It’s given upfront at the time of purchase.
The program may not be gone forever. Charge Up New Jersey notes, “No additional funds are anticipated for FY 23.” However, the state board of public utilities may provide some 2024 funding.
