EV Tax Credits Expire Sept 30: How to Save up to $7,500 on a Tesla (or Any EV) Before It’s Too Late

If you’ve been thinking about buying a Tesla—or any electric vehicle—now is the time to act.

The biggest EV tax credits in U.S. history are coming to an end.

Thanks to President Trump’s so-called “Big Beautiful Bill” passed on July 4—a federal budget deal that quietly phases out clean energy incentives—all three major EV tax credits will expire on September 30, 2025. That includes:

• ❌ Up to $7,500 for new EVs
• ❌ Up to $4,000 for used EVs
• ❌ Up to $7,500 for leases (via the commercial EV credit)

These credits have helped millions of Americans save money on EVs. But come October 1, they’ll be gone.

If you want to lock in up to $7,500 in savings on a Tesla, Hyundai, Ford, or Rivian—this is your window.

What EV Tax Credits Are Ending on September 30?

These incentives were expanded under the Inflation Reduction Act in 2022. Now, they’re being rolled back as part of the 2025 budget deal.

“This is going to be the summer of the EV,” says Ingrid Malmgren, Senior Policy Director at Plug In America. “Come the end of September, those credits will be gone.”

Why This EV Tax Credit Deadline Actually Matters

Let’s look at what these credits mean in real dollars:

Depending on the vehicle, the federal EV tax credit covers 15–25% of the total cost. Waiting could cost you thousands.

Step 1: Check If You Qualify for the EV Tax Credit

Before you shop, confirm your eligibility.

Income LimitsCredit Type

Tip: If your household exceeds these income limits, leasing an EV may be your best option. The $7,500 lease incentive (via the commercial EV credit) has no income cap, and many automakers apply it directly to your lease price.

Price Limits

• New EVs
• • Cars under $55,000
  • SUVs, trucks, vans under $80,000
• Used EVs
• • Under $25,000
  • At least 2 years old

👉 Use our EV Life Savings Calculator to check what you qualify for.

Step 2: Choose a Tax Credit–Eligible Tesla (or Any EV)

Buy New: Save Up to $7,500

Top qualifying new models:

• Tesla Model Y
• Tesla Model 3
• Chevrolet Equinox EV
• Hyundai Ioniq 5 / Ioniq 6
• Ford Mustang Mach-E
• Kia EV6
• Rivian R1T and R1S (some trims)

Buy Used: Save Up to $4,000

Thanks to falling prices and fleet turnover, there’s never been a better time to buy used:

• Tesla Model 3 – from ~$14,000
• Chevy Bolt – from ~$16,000
• Nissan Leaf – from ~$11,000
• Hyundai Kona EV – under $20,000

To qualify for the $4,000 used EV tax credit, make sure your vehicle meets all of the following:

✅ At least 2 years old ✅ Priced under $25,000 ✅ Not previously claimed for a used EV tax credit

💡 Use EV Life’s Savings Calculator to see what incentives you qualify for. (You can also qualify for State & Local rebates too.)

Step 3: You Must Take Delivery by September 30

Here’s a critical detail: you must take delivery—not just order—your EV by September 30 to qualify for the credit.

Tesla delivery times typically range from 2 to 8 weeks.

👉 To be safe, aim to finalize your purchase by early September.

Step 4: Prequalify for EV Financing Now

With demand rising and the deadline approaching, financing delays and dealer markups are more likely. Getting prequalified helps you move quickly and confidently.

With EV Life, you can:

• ✅ Check your EV tax credit eligibility
• ✅ Prequalify with no hard credit pull
• ✅ Get a competitive loan offer
• ✅ Plus, expert support to maximize your EV tax credits & rebates

Prequalify in minutes →

Final Thoughts: Save Up to $7,500 Before the Clock Runs Out

This is your last chance to take advantage of federal EV incentives. Whether you’re buying a new Tesla or a used Leaf, you could save up to $7,500—but only if you act before September 30.

✅ Check if you qualify ✅ Pick a tax-credit-eligible EV ✅ Take delivery by the September 30 deadline

At EV Life, we make it easy to unlock EV tax credits, rebates, and lower-cost financing—all in one place.

Start here to save up to $7,500 on your EV