2024 Car Buyers to Benefit from Bonuses and Incentives: All the Ways to Save

2024 Car Purchase Incentives: Last Chance to Save

When looking to purchase a car, the first thing to consider is a way to save money, for example by taking advantage of bonuses, better known as eco-incentives, which promote the purchase of low-emission vehicles in full respect of the environment.

However, at the moment this possibility is limited and in the coming hours it risks becoming even more so.
The time to purchase a car benefiting from the 2024 eco-incentives is running out as the resources allocated for the recognition of discounts on car purchases are almost depleted.

2024 Eco-Incentives

One of the most important benefits for those planning to purchase a car is represented by eco-incentives.
The main purpose of such a measure is to encourage the purchase of electric or hybrid cars, as well as Euro 6, while also scrapping older vehicles (which are more polluting).

Recently, an incentive of up to 13,500 euros has been granted for the purchase of a new car, with the actual amount varying based on both the car purchased and the one scrapped.
Different tiers are identified based on the emissions:

• 1st tier: 0 to 20 g/km
• 2nd tier: 21 to 60 g/km
• 3rd tier: 61 to 135 g/km

Additionally, the buyer’s income also influences the value of the eco-incentive.
For an Isee up to 30,000 euros, there is a 25% increase in the expected amount.

While the government has allocated approximately 1 billion euros for eco-incentives in 2024, the resources are running out quickly.
As of June 3rd, there is less than 100,000 euros left for the second tier and around 162,000 euros for the third tier.
Incentives for the third tier have already been depleted.

Click here for more information on how to apply.

Law 104 Car Bonuses

Another way to save on car purchases is offered by the Revenue Agency for people with disabilities, such as the blind, deaf, mentally disabled individuals, or amputees with reduced motor abilities.

Family members supporting the disabled person can also benefit from the incentives, provided that the disabled person is financially dependent on them.

The incentives apply to various types of vehicles, including cars with a maximum of 9 seats.
The benefits include:

• 4% VAT (instead of 22%) on the purchase of new or used cars
• 19% deduction of the incurred cost, calculated on a maximum expense of 18,075.99 euros

For example, with a car priced at 21,960 euros, the price can be reduced to 18,720 euros due to the VAT reduction.
Additionally, 19% of the expense (up to 18,075.99 euros) can be deducted, resulting in further savings during tax declaration.

Ultimately, the actual price paid is significantly lower, with additional benefits such as the exemption from car tax and property transfer tax.

Read more about the Law 104 and the latest updates for 2024.