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EV tax credits expiring soon: Should you buy before they’re gone?

Published On: August 4, 2025

Federal tax advantages have contributed to the growing popularity of electric vehicles, but that is set to change.

You have two months left until the EV tax credits expire, so if you’ve ever thought of driving an EV or have even just entertained the idea, now is the perfect time to visit a dealer.

Customers like Clinton Lewis are considering making the decision inside Jeff Wyler Hyundai, as new EVs are lined up outside.

“No gas, all electric, you can run it off the sun, bring it on!” “Said Lewis.”

As prospective customers become aware that they only have until September 30 to claim a $7,500 EV credit, dealership general manager Mitch Minelli reports he has witnessed a spike in demand in recent weeks.

Additionally, a $4,000 credit for purchasing a used EV expires.

Observe consumers debating whether to purchase an EV before the tax subsidies run out:

“A lot of customers were coming to us with the knowledge that the incentive was possible going away, and now in fact it is,” Minelli stated.

According to him, you can currently save more than $10,000 on many of these EVs by combining that credit with other incentives.

Experts in the field forecast a decline in sales this autumn.

EV sales may be strong right now, but Karl Brauer of iSeeCars predicts that they will certainly decline once the tax incentive expires.

“I suspect that that’s going to settle in around 4 or 5% of new car sales, about half of what they are right now,” Brauer stated.

Brauer explains that EVs’ minimal market share is due to their niche function, which is mostly seen in few areas and in households with several cars.

“They will be used where they make sense. Customers will buy and use them if they find value in them, and they won’t buy them if they don’t make sense,” Brauer stated.

He advises waiting until the tax credit expires, though, if you’re looking to buy a conventional or hybrid car.

“They don’t have to bear the cost and help make the company overall profitable by charging more for those to make up for the money-losing EVs,” Brauer stated.

A report on what iSeeCars anticipates changing after September 30 and what prospective EV customers should be aware of and do right away has been posted.

Adam Contino and other buyers are considering switching to electric vehicles as there are just a few weeks remaining to claim the credit.

“Quiet and quick off the line are the pros. As he and his wife discussed buying an EV, Contino stated, “The drawbacks are range anxiety.”

Before making the hasty decision to switch to electricity, it is best to weigh all of your possibilities. To avoid wasting your money, experts advise that if you are inclined in that direction, you should complete the task before September 30.

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The journalist who reported this story on-air used artificial intelligence to translate it to this platform. Our editorial staff checks all reporting for truth and fairness across all platforms.

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