Oregonians eligible for rebate when they buy an eco-friendly car - KPTV - FOX 12

Oregonians eligible for rebate when they buy an eco-friendly car in 2018

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PORTLAND, OR (KPTV) -

For anyone thinking about buying a new car next year, the state of Oregon is offering big incentives to buy electric.   

Drivers will soon get thousands of dollars in rebates simply for buying an eco-friendly car.  

$12 million in cash rebates will soon be up for grabs every year, for the next six years, to all Oregon drivers who purchase, or lease a new electric vehicle that retails for $50,000 or less.   

"I'm expecting to see a bump in sales," said Zach Henkin of Forth. "There's this pent-up interest in electric vehicles." 

It's all part of the state's newly approved $5.3 billion dollar transportation plan. 

"This was the third year that we worked on passing an EV rebate and it got down to the wire. There was a lot of excitement and we were really happy it came through in the end," said Henkin.

Henkin of Forth, a company formerly known as Drive Oregon, was a huge supporter of this legislation. He runs the company's showroom in southwest Portland, which is brand agnostic. The facility was established simply to teach people about electric vehicles and allow them to test drive one.   

"We're not selling anything, we want to be transparent of how the process works, if you want honest feedback, well give it to you," Henkin said.

Henkin says one of the biggest complaints he hears from drivers about going electric, is the cost. He thinks these new rebates, which will be either $1,500, or $2,500, will help alleviate that burden.   

"That's a cash rebate, so the dealer can take that and roll it into financing, or use it for a down payment into lease. This will allow a car that's leased for $200 a month with a $2,000 down payment, immediately be $200 or less, which is really exciting," said Henkin. 

On top of that, there will soon be something called a Charge Ahead Rebate that's specifically for low, or moderate income buyers. With that rebate, drivers will get an additional $2,500 if they scrap a car that's at least 20-years-old. 

"It's compounding all of these different incentives, you get $2,500 on a regular rebate, $2,500 for the charge ahead portion and an extra $7,500 tax credit, so all told you get $12,500 off of a new car, which is a big deal," Henkin said.

A big deal that already has people buzzing with interest, but the program won't be finalized until 2018. So, anyone thinking about buying an electric vehicle, has to wait just a bit longer. But they could end up saving thousands of dollars.   

For more info on how the rebates will work, check out: http://www.oeconline.org/how-the-oregon-rebate-for-electric-cars-works/

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