For last minute shoppers looking for a new or used EV that qualifies for a tax credit, you have until 11:59pm on 9/30/25 to take ownership of one and make use of the credit as the "One Big Beautiful Bill" puts the kibosh on the credits for purchases made on or after 10/1/25.
When purchasing new models assembled in the USA that qualify for the credit, one can transfer the credit to participating dealers and take the $7,500 credit off of the vehicle list price at the time of purchase. If one's income is in the qualifying range and the credit covers more than the income tax owed for 2025, there is no payback necessary of the exceeded amount taken at the time of purchase. The same goes for the $4,000 credit concerning qualifying used models purchased by a licensed dealer.
