A $7,500 tax credit for buyers of new electric vehicles and one worth $4,000 for used EVs expire in September.

Vehicle buyers looking to go electric in 2025 need to act fast, as key federal incentives are set to disappear this fall.

Edmunds reports EV tax credits will end September 30, 2025. New buyers can claim up to $7,500; used buyers up to $4,000, with ...

Electric vehicle purchases. The new law will also end the cash rebate for EV buyers. Currently, some buyers are "eligible for ...

That's because if you buy a used electric vehicle — for 2024, from model year 2022 or earlier — there's a tax credit for you too. It's worth 30% of the sales price, up to $4,000.

What changed? The old credit offered $7,500 for new electric vehicle buyers until their automaker hit a 200,000 limit for available tax credits. Plug-in hybrid buyers received a smaller credit.

Changes to the federal electric vehicle (EV) tax credit are set to take effect Jan. 1, reflecting a push by the Biden administration to focus the financial incentives on domestically produced vehic… ...

We'll do our best to help you navigate it. Here's a practical, plain-English guide to how the electric vehicle tax credit will work in 2024 — including why you may also consider leasing a car.

The $7,500 electric vehicle tax credit in the Inflation Reduction Act, which Biden signed in August, doesn’t limit the number of credits, but the full $7,500 credit for new EVs assembled outside ...

Last year’s Inflation Reduction Act provided a federal tax credit of up to $7,500 to use toward an EV. Under the rules, a dealer can apply that credit to any leased electric vehicle, no matter ...

How to Qualify for the Used EV Tax Credit The tax credit for used EVs will be calculated based on either 30% of the vehicle's value or $4,000, whichever is less. As mentioned earlier, there are no ...