Illinois Electric Vehicle (EV) Rebate Program and Vehicle Prices

Friday, July 08, 2022 10:10 AM | Anonymous member (Administrator)

The Better Business Bureau would like to caution dealers on reducing their advertised EV prices by the amount of the Illinois EV Rebate Program which is $4000 for all electric vehicles that are not motorcycles. Motorcycles have a $1500 rebate under the program. The program became effective July 1, 2022.

While these State of Illinois rebates save qualifying consumers money on the purchase of EVs, that savings is not connected to the dealer nor the manufacturer and is not an immediate savings. Consumers must apply for the rebate within 90 days of the purchase of the EV and must qualify for it by meeting certain specific standards. Documentation is required to prove the date of the purchase as July 1, 2022, or later.

Dealers who deduct the Illinois EV rebate amount from prices will run afoul of the Illinois Motor Vehicle Advertising Regulations which state that only tax, title, license, and a documentary service fee may be deducted from advertised prices. Rule 475.310.

The Rules allow for the deduction of manufacturer rebates from advertised prices only when the rebates are available to all consumers. Manufacturer rebates available only to certain qualifying consumers may not be deducted from advertised prices. Rule 475.530.

While Rules 475.310 and 530 authorize certain amounts to be excluded from advertised prices, the rebates provided by the Illinois EV Rebate Program are not included in these amounts. The program is a State of Illinois program with no connection to manufacturer offers.

The BBB will monitor EV advertised prices to ensure that consumers understand the actual EV price when they purchase such vehicles. Savings to qualifying consumers occur well after they purchase EVs. The Illinois EV Rebate Program has no impact on the prices consumers will pay at the time of purchase.

The BBB is also aware of the negative competitive impact that will occur if dealers reduce their prices by the amount of the Illinois EV Rebate. The BBB wants to ensure that all dealers who sell EVs are selling in a fair marketplace and will take all appropriate steps to make that happen.


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