Thinking about buying an Electric Vehicle (EV)? The federal tax credit is ending soon—here's what you need to know.

Starting September 30, 2025, the federal EV tax credit—up to $7,500 for new electric vehicles and $4,000 for used ones—will expire due to new legislation under the “One Big Beautiful Bill” Act. Don’t worry entirely—if you sign a binding contract and make a payment by September 30, you may still qualify for the credit even if you take delivery later. New rules also apply and include income caps, vehicle price limits, and North American assembly requirements. Learn More.