Is your credit $4,000 or $3,750? If it is $4,000, it sounds like you entered something to say that it is a used EV. The Used EV credit would be $4,000.
If the credit is $3,750, it is because your vehicle does not qualify for the $7,500 as it only meets one of the criteria not both based on fueleconomy.gov.
Vehicles will have to meet all of the same criteria listed above, plus meet new critical mineral and battery component requirements for a credit up to:
- $3,750 if the vehicle meets the critical minerals requirement only
- $3,750 if the vehicle meets the battery components requirement only
- $7,500 if the vehicle meets both
A vehicle that doesn't meet either requirement will not be eligible for a credit.