Edmunds' EV Buying Guide
Thinking about buying an electric vehicle? Our comprehensive EV Buying Guide can help, no matter what stage of the process you’re at. Find out what you need to know before you buy, including differences between electric vehicle types, understanding range calculations, charging capacities and more.
Electric Vehicle 101
Research by EV Type
The Edmunds experts test electric vehicle contenders on our test track and in the real world. Our ratings assess performance, comfort, technology, utility, value and more.
EV Charging
EV Tax Credits and Incentives
Research EV Tax Credits, Rebates and Other Incentives
Use this tool to find tax credits, incentives and rebates that may apply to your purchase or lease of an electric vehicle. You'll find the latest federal, local municipality, utility and automaker-sponsored programs that can reduce the price of your next EV or PHEV. We're constantly updating the list of available programs, so make sure to check back often for the latest opportunities.
Edmunds does not retain or share any data that you provide through this tool. We make every effort to provide accurate information, but please verify programs and eligibility before purchasing a vehicle. This information is provided subject to our Visitor Agreement.
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Affiliations, Clubs or Groups Offer
$1,000Maximum RebateAmerican Medical Association Members, American Dental Association Members, American Bar Association Members with eligible PIN may be eligible for incentive. See your Volvo retailer for complete details.Lender Offer
$1,000Maximum RebateVCFS Finance Bonus applies to select MY23 and MY24 Volvo vehicles financed through Volvo Car Financial Services (VCFS). Available to qualified customers that meet Volvo Car Financial Services (VCFS) credit standards at authorized Volvo Retailers. Not everyone will qualify for credit approval. Advertised financing does not include taxes, title, registration, license, and other dealer fees. Car shown with optional equipment. All offers are subject to vehicle availability. Must take delivery of vehicle between March 1st, 2024 and April 1, 2024. See your participating Volvo Retailer for details.Loyalty Offer
$1,000Maximum RebateThe Loyalty Bonus is available towards the lease or purchase of any new 2023 or 2024 Volvo. The Loyalty Bonus varies by model and whether vehicle is leased or purchased. Customer eligibility requirements must be met for the Loyalty Bonus offer. Residency restrictions apply. Please see Volvo Cars Retailer for details. Offer valid between April 2, 2024 and April 30, 2024. Individuals who currently own/lease any model year Volvo or Saab vehicle OR have owned/leased within the last 6 months are eligible. Offer open only to legal U.S. residents who have a valid U.S. driver?s license. Offer is not transferable and cannot be combined with the Competitor Bonus. Vehicles purchased outside of the program dates will not be eligible for this offer. Offer cannot be used towards the payment of sales tax. This offer is subject to federal, state and local taxes. Offer cannot be applied to lease or purchase of any other model year Volvo or vehicles purchased as used and/or Overseas Delivery (VCIC) program sales.
EV Videos
Must Watch
Watch Video
EV Tax Credits: Everything You Need to Know
In this video, Edmunds’ Nick Yekikian does a deep dive into the current state of EV tax credits for 2024, including eligibility requirements both for vehicles and buyers, how much to expect, and more.
Learn About Your EV's Fuel Economy
Fill out the year, make, model, and trim along with your driving habits to find out your vehicle's cost to drive and MPG data.
2024 Volvo Recharge Fuel Economy
Change Vehicle 1 of 281
55%
City
45%
Highway
Cost to Drive
$61/mo
XC40 Recharge Single Motor Core
vs
$189/mo
Avg. SUV
Monthly estimates based on costs in Ohio
Range
293 miles
EPA Estimated RangeElectric cars typically experience 1-2% of range loss per year with slightly faster degradation over the first 50,000 miles as the car settles into its long term state, according to Recurrent's study of 15,000 EVs.
Charging at Home
8 hours
Total Charging Time (240V outlet)
EV batteries should be kept at 30-80% charged to extend battery life.
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