CVRP Rebate Now Overview
Learn more about using CVRP as a point of sale rebate.
CVRP is making it easier and faster for customers to receive an electric vehicle rebate. Customers can now get preapproved for CVRP. In just a few simple steps, you can claim the transferred rebate and apply it to the customer’s down payment. Here’s how Rebate Now works:
- A customer applies for Rebate Now
A customer must apply for a Rebate Now before they purchase or lease an EV. CVRP process the rebate in normal processing time (typically 30-45 days.) After the application is approved, the customer visits a participating dealership, the dealership verifies the rebate is valid and applies Rebate Now to the down payment of the vehicle.
The customer has the option to use the rebate at the point of sale or claim it themselves. A customer who chooses to claim the rebate after the transaction is responsible for submitting their own qualifying documentation; the dealership is not involved in this process.
- Verifying the rebate
Once the customer has been approved for their rebate, they can visit a participating dealership.
At the dealership a sales manager logs into the dealer portal to validate and confirm the rebate amount. To login, the customer must provide their application and driver’s license number. In certain circumstances, a customer might use another form of identification. We recommend the customer prints out a copy of the approval email, which has this information.
If the customer does not readily have their preapproval application number with them, they may retrieve it from the confirmation email message sent by CVRP or by calling our hotline.
- Applying Rebate Now
Once the rebate amount has been verified through the dealer portal, the rebate can be used as a down payment. Apply the rebate in line item 6F, or down payment other. On the contract, the rebate must be written as an itemized amount. It cannot be combined on any lines with other rebates. At this point, the dealership will claim the rebate.
In certain circumstances the customer may choose to claim the rebate themselves. If this is the case, do not claim the rebate and do not include the rebate amount as a down payment.
- Submit supporting documents
After the dealerships claims the rebate, they have 14 calendar days to submit supporting documents to receive the rebate. Documents should be scanned and the dealership representative should confirm that all information is legible prior to submitting. The required documents are:
- Copy of purchase or lease agreement
- Copy of proof of registration (REG 397, Application for Registration of New Vehicle)
- Timeline for rebate disbursement
CVRP staff will review supporting documents within 7 calendar days. Assuming the documents are complete, legible and meet program requirements, CVRP will initiate electronic payment to the dealership via ACH transfer within 7 business days. Funds will arrive in the dealership’s enrolled bank account within 1-3 days of payment initiation. Some delays may occur if there are any issues with the documents submitted. If issues arise, CVRP staff will contact the dealership-provided primary and secondary dealership contacts via email.