The Countdown Is On
The $7,500 federal EV tax credit is about to expire. Starting September 30, 2025, the incentive ends as part of the new One Big Beautiful Bill Act.
That means models like the Chevrolet Equinox EV or Tesla Model Y could soon become much less affordable. But there’s good news: the IRS has clarified the rules, giving buyers a way to secure the credit even after the deadline.
It’s About Contracts, Not Delivery
Most shoppers believed a vehicle had to be delivered by September 30 to qualify. That’s not true.
The IRS states that if you sign a binding purchase contract and make a payment before the deadline, you’ll still qualify for the credit—even if delivery happens later.
Buyers will also get a time-of-sale report from the dealer when they finally take possession. This creates a crucial window for last-minute shoppers.
Automakers Get Breathing Room
This rule also helps manufacturers. Brands like Ford, Tesla, and Chevrolet can continue booking orders before the deadline, even if supply delays push deliveries into 2026.
In other words, the tax credit becomes more about when you commit rather than when you drive away. A deposit locks in the deal.
The Bigger Picture
Without the credit, U.S. EV sales could drop by 27%, according to Bloomberg. That’s 317,000 fewer registrations per year. Automakers are already pushing aggressive offers—some leases now start as low as $100 per month—to soften the blow.
But make no mistake, once this relief ends, EV affordability will take a hit.
If you want the $7,500 EV tax credit, act before September 30. Sign the paperwork, make a payment, and secure the incentive.
The Bottom Line
You may wait months for delivery, but at least you won’t lose thousands in savings.
The question is—will buyers rush to lock in deals before the clock runs out?
