As dealership sales begin to rebound from the huge decline between mid-March and May, the State EV incentive can be an excellent marketing tool. Combined with the New Jersey Sales Tax exemption, federal tax credit and other potential manufacturer and/or dealer incentives, plug-in EVs can be a very attractive option for many consumers.
The Charge Up New Jersey website allows users to view eligible vehicles, provides information on program requirements and other FAQs. It also provides easy-to-understand, step-by-step instructions on confirming eligibility, completing the online application, uploading relevant backup information and claiming the incentive once it has been approved. Requirements to participate in the Charge Up New Jersey program include the following:
- Purchase or lease of any eligible new light-duty plug-in electric vehicle with a final MSRP below $55,000 on or after January 17, 2020. A vehicle purchased, leased, or delivered out-of-state is not eligible for the incentive, including vehicles ordered online and delivered out-of-state;
- Applicants must be a resident of New Jersey at the time of purchase or lease. Active duty military members stationed in the state with permanent residency in another state, may apply. Current military orders will be accepted as proof of residency documentation. The program is limited to individuals only. Business, governments, and public entities are not eligible;
- Applicants are required to remain a resident of New Jersey for at least two (2) years after the purchase or lease of the eligible electric vehicle which receives an incentive;
- Retain ownership or an active lease agreement and registration of the vehicle with the New Jersey Motor Vehicle Commission for a minimum 36 consecutive months immediately after the vehicle purchase or lease date. Leased vehicles must reflect a minimum of 36 months on the original lease agreement; and
- Applicants may only receive up to four vehicle incentives from the Charge Up New Jersey program throughout the ten-year period the program is active.
Phase 1 of the Program requires consumers to apply for the incentive online, after the eligible vehicle purchase or lease has been completed. When Phase 2 of the Program is launched, dealerships will be able to apply the incentive to the vehicle at the time of sale. In the meantime, dealers are encouraged to make all of their customers who have purchased or leased an eligible plug-in EV since January 17, 2020 (or purchase/ lease one going forward) aware of what they need to do in order to claim their incentive during Phase 1 of the Charge Up New Jersey program roll-out.
The Charge Up New Jersey application and all program information can be found HERE.
View the complete BPU press release HERE.