Big news on the EV tax credit front: 8,700 car dealers across the country have signed up with the U.S. government to provide incentives to car buyers at the point of sale, Treasury Department officials said on Friday.
That’s a jump of 1,300 dealers over the last week, and it means it’s getting easier and easier to get thousands of dollars off of the purchase of a qualifying new or used EV. Up until recently, the longstanding EV tax credit was just that: a credit EV buyers could apply for to reduce their federal tax liability. As of Jan. 1, the incentive is available as, basically, cash on the hood through a dealership.
Get Fully Charged
The EV Tax Credit Just Got A Whole Lot Better
For over a decade, EV buyers have had to wait until tax time to apply for an up-to-$7,500 incentive from the federal government. Now the Feds have authorized car dealers to provide the incentive as an up-front discount to shoppers, then get reimbursed.
If both you and your desired vehicle meet all the eligibility requirements for the credit program, you can get up to $7,500 lopped off of the purchase price of a new EV, or up to $4,000 off the price of a used one. The government then reimburses the dealership for providing that discount.
This new process should go a long way toward making the tax credit more accessible, and toward making EVs more appealing to more people. An immediate discount is more appetizing than a refund down the road. Moreover, under the old way of doing things, buyers who owed less than $7,500 in federal taxes couldn’t take full advantage of the credit.
Dealerships are already handing out government-funded discounts to car shoppers. The IRS has received and acknowledged hundreds of payment requests from dealers, and it plans to start doling out payments imminently, Treasury officials said.
While the EV tax credit has become easier to obtain in 2024, many fewer vehicles qualify than last year. New restrictions on battery sourcing that went into effect this year booted several cars off the list, including the Ford Mustang Mach-E and some Tesla Model 3 sedans. But many of the most popular models out there—like the Tesla Model Y and Chevrolet Bolt—still qualify.
ivermectin 6mg online – brand atacand tegretol 200mg tablet
order isotretinoin 10mg – dexamethasone 0,5 mg brand buy zyvox 600 mg sale
order amoxicillin for sale – order generic combivent 100mcg purchase ipratropium generic
order generic prednisolone 20mg – where can i buy omnacortil order progesterone 100mg
oral lasix 40mg – lasix 40mg price buy betnovate 20gm
order neurontin 100mg sale – brand anafranil 25mg oral sporanox 100 mg
cheap augmentin 1000mg – order duloxetine 20mg online order generic duloxetine
buy monodox – purchase albuterol pill glucotrol 5mg ca
buy semaglutide 14 mg sale – semaglutide oral cyproheptadine 4 mg tablet
tadalafil drug – order cialis online cheap genuine viagra
viagra 50mg cheap – tadalafil 5mg pills cialis mail order usa
order atorvastatin 80mg pill – prinivil pills lisinopril 10mg sale
buy atorvastatin 40mg online cheap – buy prinivil for sale order lisinopril pill
order lipitor 80mg pills – buy generic norvasc buy generic zestril for sale
purchase prilosec sale – atenolol 50mg us buy atenolol 100mg online cheap
medrol 8 mg pills – order generic triamcinolone 10mg order aristocort without prescription
cytotec 200mcg ca – cheap misoprostol 200mcg buy diltiazem without a prescription
order acyclovir 800mg pills – purchase zovirax without prescription buy crestor 10mg pill
motilium cheap – buy flexeril pill flexeril sale
buy motilium cheap – tetracycline 500mg cost oral cyclobenzaprine
inderal 20mg ca – buy propranolol for sale order methotrexate 10mg generic
buy warfarin 5mg generic – cozaar price losartan 50mg for sale