This Week’s EV Highlights

It’s Friday…and the launch day of our brand new weekly newsletter!

At EV Life, we’re on a mission to make buying and driving EVs easier and more affordable for everyone. Every week, we’ll send you tips on how to save big on driving electric.

Today we explore:

1. New EV tax credits: 78% of EV buyers use credits upfront. Here’s how to get yours.
2. Used EVs revving up: Teslas now sell for under $20k, but will any dealer give me a tax credit?
3. Demystifying home charging

Have feedback for us? Please email support@evlife.co! — we'd love to hear from you!

New EV tax credits

The IRS reports that since launching on January 1, 78% of American EV buyers are getting EV tax credits worth up to $7500 as a point-of-sale discount on their new and used EV purchases.

Highlights:

• Before 2024, Americans had to wait for tax time to get a credit.
• Also, even if you owe $0 to the IRS, you can now get $7500 off a qualified EV. (Income limits apply.)
• Many popular EVs like the Tesla Model Y and Chevy Bolt still qualify for the full $7500 tax credit, but many others lost tax credits when stricter battery sourcing guidelines kicked in.

Ways to Save:

1. Check out our guide: “Changes to the Federal EV Tax Credit”
2. Check your rate on financing with EV Life to maximize your tax credits, rebates, and hard to find incentives–and get the lowest rates anywhere.

Check Your Rate

Used EVs revving up

In 2023, a record 1.2 million Americans bought new EVs, but 2024 may be the breakout year to buy a used EV.

Here’s why:

• Hertz just announced they’re putting 20,000 Teslas (and other EVs) up for sale, including Tesla Model 3s from $14,000.
• The federal government now offers a $4,000 used EV tax credit.

Key challenges:

• So far, a low number of used EV dealers have registered with the IRS to give you the $4,000 tax credit upfront. To get the credit, you need to find your EV at an IRS-registered dealer.
• The used EV credit has complex qualification rules for the vehicle and your income.
• Spending hours hunting & pecking for state or local rebate and also be time consuming, despite the reward.

To help solve this, EV Life just launched used EV financing:

• Our used EV loans help you maximize your tax credits, rebates, and other hard to find incentives, and we offer the lowest rate on used EVs anywhere.
• Plus, we’ll give you a list of recommended dealers who can pass through your $4,000 tax credit.

Ways to Save:

1. Read our guide: “How to get a Used Tesla under $20k”
2. Check your rate on Used EV Financing with no impact on your credit score.

Check My Rate

Demystifying Home Charging

One of the biggest obstacles of EV ownership is figuring out how to set up charging at home. To help you get started, we developed a home EV charging plan to help you maximize savings.

To help you get started, we developed a home EV charging plan to help you maximize savings.

Ways to Save:

1. Read our “Complete Guide to Home Charging”
2. Get an instant quote for charger installation (that you can even bundle into EV Life vehicle loan).

Get charger quote

Thanks for reading! Have some feedback? Just email support@evlife.co!