US Edition
Should You Buy A New EV Before The $7,500 Tax Credit Expires?
UNITED STATES, JUL 28 – Federal tax credits for new EVs will end at $7,500 and $4,000 for used ones, with eligibility rules limiting buyers and affecting the U.S. electric vehicle market, IRS said.
- The federal government will end the $7,500 tax credit for new electric vehicles and $4,000 for used ones on September 30, 2025.
- This deadline follows recent legislation resetting EV credit expiration to September 30, after earlier reinstatement under the Inflation Reduction Act in 2022.
- Consumers must complete purchases or leases before the deadline to receive credits, which apply only to eligible vehicles meeting price, battery, and income requirements.
- Tesla CEO Elon Musk said credit elimination could hurt sales and cause "a few rough quarters," while dealers anticipate a surge before a possible lull afterward.
- With the credits ending soon, analysts predict a slowdown in EV demand and advise buyers seeking incentives to act before September 30, 2025.
60 Articles
60 Articles
The News-Herald
Shopping for an electric vehicle? How long until that $7,500 tax credit expires?
By Caroline Petrow-Cohen, Los Angeles Times Michael Buday has one eye on the calendar as he makes plans to purchase a used Tesla. The Orange County, California, resident has two months left to take advantage of a federal tax credit that could save him thousands of dollars if he buys an electric vehicle. The federal government will stop paying a $7,500 incentive for new electric vehicles and a $4,000 credit for used ones on Sept. 30. It’s an abru…
Want To Buy A Used Electric Car Before US Tax Credit Expires? 7 Things To Know - CleanTechnica
There are just two months and two days left to get a used electric car in the United States and get a $4,000 tax credit off the price. However, not everyone is eligible for the tax credit, not every used electric car qualifies, and there are some things to know ... [continued] The post Want To Buy A Used Electric Car Before US Tax Credit Expires? 7 Things To Know appeared first on CleanTechnica.
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