Do Electric Golf Carts Qualify For Tax Credit
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If you are looking for an electric golf cart or just like taking advantage of the many IRS loopholes, a tax credit definitely pops up in your mind. Electric golf carts have better performance and longevity than standard ones, which begs the question- do electric golf carts qualify for a tax credit?
Electric golf carts do not qualify for a tax credit as it does not meet some of the requirements that a motor vehicle must meet to be eligible for the credit.
For instance, a tax credit for electric motors requires the vehicle to be made purely for use on public streets. A golf cart is used both on-road and on golf courses which do not make it eligible for the 30D credit.
Also, the qualifying vehicle should reach speeds of 20 miles per hour on level pavements. Most golf carts move at an average speed of 12 to 14 miles per hour which is way below the requirements.
So, even if your golf cart is “street legal,” the manufacturer should certify that it is primarily manufactured for use on public streets. This means it is only the manufacturer’s task to ensure the vehicle is mainly used for street use.
We recommend avoiding articles or media reports that show a golf cart qualifies for a tax credit without certification from the manufacturer, especially when it comes to golf cart batterys.
How Much Does An Electric Golf Cart Cost?
The accessories and functionality determine the cost of an electric golf cart. Though a modern technology, not all electric golf carts have a luxurious design- some are minimalist and only install the basic features.
Here is a rough idea of how much it should cost for an electric golf cart
- The entry-level model costs about $4,000
- A customized entry-level model should cost around $15,000
- Most electric golf carts will vary from $5,000 to $10,000
So, the lower you go down the price range, the fewer features available in your golf cart.
Other factors that affect the price of electric golf carts depend on the manufacturer’s brand and the aesthetics built into it. Also, different dealers have specific pricing models depending on the business objectives and customer appeal.
Can You Get A Cheap Electric Golf Cart Without Tax Credit?
Absolutely!
You can find a cheap electric golf cart with quality features to suit your needs. Since the electric golf cart will have a long life span, it is best to look out for these factors to help make the right decision.
Battery Condition and Age
Whether you’re buying a new or used electric golf cart., it is crucial to consider the battery health. For used carts, check the age and condition of the batteries. Are they well taken care of? Have they been replaced?
Golf cart batteries have a lifespan; if they are closer to the end, they are not worth the money. Remember, the battery is an electric golf cart’s powerhouse, so you need it to be at its best.
Check for corrosion or leaking, good indicators of a poorly maintained battery.
What’s the voltage of the batteries? Electric golf carts come in 6, 8, or 12 volts, whereas the higher voltage batteries are pricier. It would be nice if you considered the price in terms of replacement when the battery dies.
Manufacturer
Three major manufacturers make electric golf carts; Yamaha, EZ Go, and Club Car. Each organization has its pros and cons, but you’ll find most parts of the carts are somewhat similar.
The difference comes in the features, as each manufacturer has its idea of what should be an ideal electric golf cart. If you’re going for affordable carts, we recommend EZ Go models, and they are lightweight and won’t carry as much golf equipment.
Yamaha and Club Car are also ideal brands though they have higher prices. But, if you don’t mind the extra bucks, you can get yourself a Yamaha electric golf cart. Just make sure you buy a cart that handles what you need it for.
Warranty
When purchasing a used electric golf cart, the chances of finding a warrant are close to nil. However, new carts should have warranty options and cover certain items under the standard warranty.
An extended warranty is ideal if you don’t want to get your hands dirty and fix the golf cart yourself. The extended warranty covers issues such as electrical faults, battery leaks, and more.
If you’re not going to do these things yourself, considering an extended warranty ensures the golf cart’s value remains intact.
Tires
Another significant consideration of buying a cheap golf cart is the tires. Check whether the tires are built for riding around the streets or for off-road performance. Are their tires well-treated? Are they large enough?
If you’re buying a used golf cart, check the treads and see what conditions it is in. If the used cart may need new tires after purchase, remember that you’re going to spend an average of $100 on the tires.
Storage
A cheap cart may be smaller than most models, so you must check how much storage space is reserved for your gear. If you’re a family member who rides to the beach several times, you might need a bigger space.
Most carts allow attachments that will hold extra coolers or other storage containers, and some will have storage compartments for keeping your belongings.
Safety
Safety should be the top priority as much as you’re looking for a cheap golf cart. Once you become a golf cart owner, you will be solely responsible for the safety of the passengers. It is common for brands to leave out simple safety measures in pursuit of a low price.
So, you should always pay attention to these key features:
- Seat belts
- Mirrors
- Lights and indicators
- Grab bar
Winding Up
Electric golf carts are convenient and make life more fun. They may not qualify for a tax credit, but they have a lot of benefits. The key is to find a perfect fit for you and your family at a reasonable price.