$7,500 Electric Vehicle Tax Credit Expires Sept. 30

DETROIT – A brand new, out-of-the blue Sept. 30 deadline to buy an EV could be easy to miss, given all the quirky details packed into the nearly 900-page mega tax bill. But automakers aren’t about to let that happen.

An email sent by Telsa says: “Order soon to get your $7,500.”

“You can get $7,500 off a qualifying Tesla vehicle at delivery with the federal tax credit, which will now expire on September 30, 2025,” the email stated.

You must take delivery on or before Sept. 30 to be eligible.

Sales of electric cars and trucks, including plug-in hybrids, could be scorching hot at the end of summer, according to industry analysts, as buyers hear more promotions about why they absolutely must lock in lucrative clean vehicle tax credits that expire under what has been called the “one, big, beautiful bill.”

A lucrative loophole on leasing EVs ends Sept. 30, too.

A clean vehicle tax credit that’s up to $4,000 for eligible used electric vehicles also expires Sept. 30.

Don’t kid yourself. Not every tax filer will qualify for the credit when buying a clean vehicle. The make and model and the MSRP matter. So does your income. The credits do not apply to every package offered on some electric car or truck or plug-in hybrid models.

The availability of the credit for those who buy will depend on several factors, including the vehicle’s MSRP, its final assembly location, the sourcing of the critical minerals and components in the battery, and your modified adjusted gross income.

Included in the footnotes for the Tesla email: “Consult a tax professional. Not all buyers, vehicles or financing options will qualify. Terms and conditions apply.”