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July 24, 2026 · Morris, EV Expert at CMG · 8 min read

California's 'My First EV' Program: It Better Be a Steal

California’s new MyFirstEV program could provide first-time EV buyers and lessees with up to $3,500 off an eligible new electric vehicle. Here’s how the program works, which automakers are participating, and how the rebate could help bring back the kind of incredible EV lease deals Coastal Motor Group has secured before.

California’s MyFirstEV Program Could Bring Back Some Seriously Affordable EV Deals

California is preparing to roll out MyFirstEV, a new incentive program designed to make electric vehicles more affordable for residents purchasing or leasing their first zero-emission vehicle.

Beginning later in summer 2026, qualifying Californians are expected to receive an instant rebate directly through a participating dealership:

Unlike a traditional tax credit that requires buyers to wait until they file their taxes, the MyFirstEV savings are expected to be applied directly to the vehicle transaction.

For California EV shoppers, that could make a meaningful difference—especially when the rebate is combined with manufacturer incentives, dealership discounts and a properly structured lease.

How Does California’s MyFirstEV Rebate Work?

California has allocated approximately $135.5 million to the MyFirstEV program. Participating automakers will match the state’s contribution, creating approximately $270 million in total program funding.

The announced consumer incentives are:

New Electric Vehicles

First-time zero-emission vehicle buyers and lessees may receive $3,500 off a new EV with an MSRP of up to $50,000.

Used Electric Vehicles

Buyers may receive $1,750 off an eligible used EV priced at $25,000 or less through a participating manufacturer’s pre-owned vehicle program.

Income Requirements

The standard MyFirstEV incentive is expected to be available to Californians purchasing or leasing their first zero-emission vehicle. California has not announced an income limit for the standard $3,500 rebate.

The California Air Resources Board, commonly known as CARB, will oversee the program. Additional information about the official launch date, eligible vehicles, participating dealerships and redemption process is expected as the program gets closer to launch.

Which Automakers Are Participating in MyFirstEV?

California has announced participation from 13 automakers:

That list includes several manufacturers that have offered some of the most aggressively supported electric-vehicle leases in California.

However, an automaker’s participation does not necessarily mean every model or trim will qualify. The individual vehicle must still meet the program’s final eligibility requirements.

For most new vehicles, the announced MSRP limit is $50,000. That means trim selection and factory-installed options could matter significantly.

A base trim may qualify while a higher trim of the same vehicle may exceed the program limit.

Can You Combine MyFirstEV With Other EV Incentives?

This is where the program could become especially interesting.

The $3,500 MyFirstEV rebate may potentially be combined with incentives such as:

The availability and stackability of these programs will depend on the manufacturer, vehicle, buyer and final MyFirstEV rules.

For 2026 transactions, buyers should not expect the former $7,500 federal clean-vehicle tax credit. Federal clean-vehicle credits are no longer available for vehicles acquired after September 30, 2025.

That makes California’s new point-of-sale incentive even more important for EV shoppers.

Why We’re Excited About MyFirstEV at Coastal Motor Group

At Coastal Motor Group, we have seen firsthand what can happen when an aggressively supported EV program is combined with the right dealership, the right timing and the right lease structure.

One of our favorite examples was a deal we arranged on a 2024 Hyundai Ioniq 5 SEL.

The vehicle had an MSRP of $49,625, almost exactly at the MyFirstEV program’s announced $50,000 MSRP limit.

The final lease included:

The customer’s effective monthly cost was approximately $89.78 before our broker fee and approximately $135.86 after including it.

That means the customer drove a nearly $50,000 electric vehicle for less per month than many California drivers spend at the gas station.

The customer originally found the deal through our Leasehackr post. After reaching out, the paperwork was completed that evening and the vehicle was secured shortly afterward.

See the $1,317 Hyundai Ioniq 5 One-Pay Deal on Leasehackr

That exact Hyundai program has expired and is not currently available. We are sharing it because it demonstrates how affordable an EV can become when every part of the deal works together.

How Does a Nearly $50,000 EV Become a $135-Per-Month Lease?

The Ioniq 5 did not become affordable because of one discount.

Several factors lined up at the same time.

Significant Manufacturer Rebates

The deal included $15,500 in manufacturer incentives. Electric vehicles can occasionally receive substantial lease support when manufacturers need to move inventory or reach sales targets.

An Aggressive Dealership Discount

Manufacturer rebates are only one part of a lease. The selling price negotiated with the dealership can still make or break the transaction.

A Strong Residual Value

The residual value represents the vehicle’s projected value at the end of the lease. A stronger residual can dramatically reduce the portion of the vehicle the customer pays for during the lease term.

A Short Lease Term

This particular Hyundai program used an unusual 13-month lease term. Short-term manufacturer programs can occasionally create extremely low effective payments.

A One-Pay Lease Structure

Instead of making monthly payments, the customer paid the entire lease amount upfront.

A one-pay structure can sometimes reduce the total finance charge or money factor, depending on the manufacturer’s lease program. It can also make an already strong lease even more affordable.

That is why looking only at the advertised monthly payment or vehicle discount does not tell the full story.

The selling price, incentives, residual value, money factor, lease term, mileage allowance and amount due at signing all work together.

Could MyFirstEV Bring Deals Like This Back?

MyFirstEV will not automatically turn every electric vehicle into a $100-per-month lease.

However, an additional $3,500 can become extremely powerful when layered onto a vehicle that already has a strong manufacturer program.

Imagine an EV with:

That combination could create a dramatically different payment than a customer would receive by walking into a dealership and accepting the first advertised offer.

We have seen incredibly aggressive EV programs appear before. They usually happen when a manufacturer has excess inventory, is approaching the end of a model year or is pushing to hit an internal sales target.

When those programs appear, they can move quickly.

The best color combinations and lowest-priced vehicles are often the first to disappear. Manufacturer incentives can also change at the beginning of every month—sometimes for the better and sometimes without warning.

Our hope is that MyFirstEV helps create another window where California drivers can access genuinely affordable electric vehicles.

We may not see another $1,317 one-pay immediately, but the additional state support could be the missing piece that turns an already competitive EV program into an exceptional one.

Should You Buy or Lease an EV With MyFirstEV?

The best option will depend on the vehicle and the manufacturer’s program.

Leasing May Make Sense When:

Purchasing May Make Sense When:

The lowest monthly payment does not always represent the lowest total cost.

At Coastal Motor Group, we compare both structures whenever it makes sense. Sometimes the lease is the obvious winner. Other times, a purchase with promotional financing offers better long-term value.

The Total Cost of Owning an EV

The purchase price is only one part of the decision.

Electric vehicles generally have fewer mechanical components requiring regular maintenance. There are no engine-oil changes, spark plugs or traditional engine services.

Regenerative braking may also reduce normal brake wear.

Charging costs depend heavily on where and when the vehicle is charged. Drivers who can charge at home—particularly during lower-cost, off-peak hours—may save significantly compared with buying gasoline.

Drivers who depend primarily on public fast charging should calculate those costs more carefully, as public charging can be considerably more expensive than home charging.

Insurance should also be considered. Some EVs may cost more to insure due to their repair costs, technology and replacement parts.

Before choosing an EV, we recommend comparing:

An attractive rebate is valuable, but the vehicle still needs to fit your lifestyle and budget.

The CMG Take

California’s MyFirstEV program has the potential to make electric vehicles meaningfully more affordable—but the rebate is only as good as the deal underneath it.

A dealership can still overcharge for the vehicle, mark up the money factor, inflate the amount due at signing or add thousands of dollars in unnecessary products.

Receiving a $3,500 rebate does not automatically mean the overall transaction is competitive.

At Coastal Motor Group, our job is to put every part of the deal together:

Our Ioniq 5 deal is a perfect example. The customer did not simply receive a rebate and hope for the best. The vehicle, manufacturer program, dealership discount, lease term and one-pay structure all aligned.

That is what we hope MyFirstEV helps bring back: not just an EV with a discount attached to it, but truly compelling deals that make going electric an easy financial decision.

Once the program officially launches and CARB releases the final rules, our team will review the eligible vehicles, available manufacturer programs and best ways to structure each transaction.

Because when one of those crazy EV deals comes back, we plan to find it.

Ready to Explore an Electric Vehicle?

View This Week’s Best Deals

Visit Coastal Motor Group to learn more about our process and request a personalized quote.

Program information is based on California announcements available as of July 24, 2026. Eligibility, participating vehicles, funding availability and program rules remain subject to final guidance from the California Air Resources Board. Vehicle programs and incentives may change without notice.

#ev#california#incentives#my first ev#affordability

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