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Hi All - new to forum and bought a brand new 2019 Ioniq PHEV Limited a week and a half ago. I did a ton of research and landed on this car, factoring in the roughly $4,500 tax credit I would receive. I thought it was weird there was still a new 2019 available, but it was, so I looked at both this and the 2020 and ultimately got a great deal on the 2019 ($26,500).

My question is surrounding the federal tax credit in the US. When they wrote the loan up through the bank, it was marked as used, despite being a brand new car with no previous owner. Apparantly, the banks in the US won't write a loan as new unless it is the current year, which I thought was strange. I was concerned I wouldn't get the credit as it was listed as used and discussed this with the finance department (who was zero help). The salesman and the general manager both assured me that had nothing to do with the credit and that the car still qualified as new and qualified for the credit. The paperwork I have lists the car as new, just the bank documents list it as used.

Did I just get screwed out of the credit or am I still good? I obviously want $4,500, but curious if anyone has detailed knowledge of how the credit works and if they year of the car matters (even if it is new).

P.S. - love the car so far, but preparing myself for when I file my tax return....
 

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I think you are ok. The tax form requires you to provide the make, model, and year of the car and the vehicle ID number. See the instruction pdf (from tax year 2018) if you are interested in the details. It sounds like your car qualifies. And nowhere in there do they ask about your financing arrangements.
 

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