Understanding Electric Vehicle Rebates and Incentives on the 2024 Mercedes-Benz EQB 250
September 28 2023,
Electric vehicles (EVs) are growing in popularity due to their efficiency, impressive performance, and innovative technology. One such impressive model is the 2024 Mercedes-Benz EQB 250 which has just been introduced to the market. It’s the latest version in the EQB lineup and joins the EQB 350 4Matic, thus providing potential buyers with two high-quality options for their next electric vehicle. Here, we take a look at what the new EQB 250 has to offer, but we also take a look at the incentives offered on the new Mercedes-Benz electric vehicle. In an effort to encourage more consumers to consider electric vehicles, several rebates and incentives are available from both the Government of Quebec and Canada, making owning an electric vehicle like the EQB 250 more attainable.
Introducing the 2024 Mercedes-Benz EQB 250
Available this fall, the EQB 250 SUV is priced at a base MSRP of $59,990. It boasts generous interior dimensions with optional space for up to seven passengers with the inclusion of an available third row.
The vehicle is fitted with a high energy density lithium-ion battery, possessing a usable energy content of 70.5 kWh, producing 188 hp and 284 lb/ft torque, with a competitive range of 394 kilometers.
Key Features:
- DYNAMIC SELECT
- 18" wheels with all-season tires
- 10.25" digital instrument cluster and 10.25" touchscreen multimedia display
- Mercedes-Benz User Experience (MBUX)
- Ambient Lighting
- Power liftgate
- Voice control
- 8-way power driver and passenger seat with 3-position memory
- Rearview camera
- Adaptive braking technology
- Seven airbags
- Blind spot assist
The spacious dimensions and extensive safety features, including the option for a third row of seats and up to four child seats in rows two and three, make it a versatile choice for young families or active buyers. The impressive range ensures that you will always reach your destination, and the impressive luxury features found inside the new 2024 Mercedes-Benz EQB mean that you will enjoy all of the benefits and amenities you expect to receive in a new Mercedes-Benz.
Available Incentives on the EQB 250
The EQB 250 qualifies for several incentives, notably the federal government's iZEV EV program, offering purchase incentives up to $5,000, making the prospect of owning an EV more appealing. Additionally, it qualifies for provincial incentive programs in Québec, where rebates can reach up to $7,000.
Incentive Breakdown
|
Incentive Program |
Rebate Amount |
|---|---|
|
Federal iZEV EV Program |
Up to $5,000 |
|
Québec Provincial |
Up to $7,000 |
Application Process
The rebate process is streamlined and user-friendly. The dealership applies the incentive directly at the point of sale, reflecting it on the bill of sale or lease agreement. It’s pertinent to note that taxes and fees are applied before applying the incentive.
Dealer’s Role
The dealer plays a crucial role in processing the rebate. They are responsible for submitting the required documentation to secure reimbursement for the incentive provided to consumers at the point of sale.
Stacking with Provincial Incentives:
The federal incentive for eligible Zero Emissions Vehicles (ZEVs) like the EQB 250 is applied in conjunction with any provincial or territorial incentives, maximizing the total rebate amount for the buyer.
Minimum Registration Period
- Personal Use: A new electric vehicle intended for personal use must be registered in Québec for a minimum period of 12 months to obtain the rebate.
- Vehicle Fleet: For a vehicle fleet, i.e., three or more vehicles purchased in the fiscal year, the minimum registration period in Québec is 36 months.
Long-term Leasing
The government rebate extends to long-term leasing of an eligible new electric vehicle. The duration of the lease determines the amount of the rebate, and the leasing period must be a minimum of 12 months. The rebate for a leasing period of 48 months or more is equivalent to the purchase rebate.
Comprehensive Overview of Rebates
Québec EV rebates
- New Vehicle Purchase Rebate: $7,000
- New Vehicle Lease Rebate:
- 12 to 23 months: $1,750
- 24 to 35 months: $3,500
- 36 to 47 months: $5,250
- 48 months and more: $7,000
Canada:
|
48 month Lease or Purchase |
12 month Lease |
24 month Lease |
36 month Lease |
|---|---|---|---|
|
$5,000 |
$1,250 |
$2,500 |
$3,750 |
Attractive Lease Rates
Along with rebates offered on the 2024 Mercedes-Benz EQB, the 2023 EQB 350 4MATIC SUV also offers a lease rate of 5.49% APR for 48 months. This also includes a 1% rate reduction. However, for those who have previously owned a Mercedes-Benz and are part of the loyalty program, there is an even more enticing offer; a loyalty lease rate of 2.49% APR for 48 months, which also includes a loyalty rate reduction, making the deal sweeter.
With the amalgamation of competitive lease rates and substantial government rebates, there hasn’t been a more opportune moment to invest in a Mercedes-Benz EQB electric vehicle. These incentives not only make electric vehicles more attainable but also promote a shift towards more sustainable and environmentally friendly automotive options, allowing consumers to experience luxury while also taking full advantage of the benefits of electrification.
The Mercedes-Benz EQB, with its combination of luxury, innovation, and eco-friendly design, is an attractive option for potential buyers, more so with the available lease rates and government rebates. These financial incentives serve to reduce the cost of acquisition, making the transition to electric vehicles more appealing. Given the array of benefits and savings, it’s evident that now is the ideal time to consider investing in a Mercedes-Benz EQB electric vehicle.
