2024 Volvo XC90 Prices, Deals and Lease Options

Volvo XC90 Tax Credit

Although the Volvo XC90 PHEV was eligible for a tax credit, that is no longer the case due to the Inflation Reduction Act since the SUV is built overseas.

That doesn't mean you can't still save money, however. A loophole allows automakers to take advantage of a commercial tax credit of $7,500 on leases.

Volvo is currently offering a $7,500 lease incentive as a result. This can make the XC90 plug-in better to lease than to buy.

California Clean Vehicle Rebate

In California, the Volvo XC90 was not eligible for the $2,000 CVRP (Clean Vehicle Rebate Project) because it did not meet the program's minimum range requirement.

As of November 2023, the Clean Vehicle Rebate stopped taking applications and will be replaced by a statewide version of the Clean Cars 4 All rebate for low-income households.

Also in the Golden State, the Clean Fuel Reward used to offer additional savings that could be had upfront (as opposed to after buying or leasing your plug-in with the CVRP). However, the program temporarily reduced its award amount to $0 and we do not yet know when the incentive will come back.