Get money for going green as the government gets ready to ban new gas-powered cars. 🚗
More zero-emission vehicles are being added to Canada's incentive program and you can get up to $5,000 for going green.
As of April 25, the federal government's Incentives for Zero-Emission Vehicles (iZEV) Program is being expanded to include even more vehicle models including minivans, pickup trucks and SUVs.
To be eligible for the iZEV rebate, a car must have a base model price that's less than $50,000 but higher-priced versions of those vehicles with a price of up to $65,000 are also eligible.
Larger zero-emission vehicles like minivans and pickup trucks must have a base model price under $60,000, but higher-priced versions of those vehicles with a price of up to $70,000 are also eligible.
The iZEV program offers incentives of up to $5,000 for purchases and leases of certain electric battery, plug-in hybrid and hydrogen fuel cell vehicles.
More cars and large vehicles will be eligible for the $5,000 under the Incentives for Zero-Emission Vehicles Program (iZEV)!pic.twitter.com/97RurdwLEN— Omar Alghabra (@Omar Alghabra) 1650648980
With this program, the federal government has a list of what vehicles are eligible and it has over 1,000 models.
That includes cars from Audi, BMW, Ford, Jeep, Lexus, Volkswagen, Hyundai, Chevrolet and many more manufacturers.
If you're wondering how to get the incentive, it is applied at the point of sale by the dealership and appears directly on the bill.
The iZEV program will be continuing until March 31, 2025.
The federal government is planning on banning the sale of new gas-powered vehicles by 2035 so that all vehicle sales at that time will be zero-emission.
This sales mandate aims to have at least 20% of new passenger vehicles sold in Canada be zero-emission by 2026, at least 60% by 2030 and finally 100% by 2035.