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Thousands of auto dealers sign up to offer new on-the-spot tax credit

Electrek

New year, new rules: As of January 1, things are about to get a little easier when it comes to getting your federal tax credit for buying an electric vehicle. And auto dealers are signing up in droves with the IRS. more… The post Thousands of auto dealers sign up to offer new on-the-spot tax credit appeared first on Electrek.

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Fisker scraps direct sales and turns to auto dealers for sales

Teslarati

“I went to my accounting department and asked what is the cost of selling a car? We decided we would rather give that money to a dealer so that we could expand faster,” said Henrik Fisker, the CEO, President, and Chairman of the EV startup. Fisker wants auto dealers to sell the company’s all-electric Ocean crossover.

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Survey Shows Auto Dealers Still Annoyed With Biden EV Strategy

The Truth About Cars

According to the 2024 Dealer Outlook Survey, 83 percent of respondents said the government was pushing the transition toward EVs too quickly and mucking up the auto market. About half of all dealerships also said they never bothered to register with the IRS to more easily facilitate EV tax credit exchanges.

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Dealers Finally Have EV Inventory But Now Lack Buyers

The Truth About Cars

We’ve been hearing about the rise of electric vehicles for years, but while they are growing rapidly in number, there’s still a disconnect between an auto industry hell-bent on electrification and the desires of the people they rely on to buy new cars.

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Pencil-Necked Finance Dweebs Suggest Anyone Making Six-Figures Should Only Buy a $15,000 Car

The Truth About Cars

Case in point – a post on a website called Investopedia suggests that anyone making $100,000 per year should spend no more than roughly $15,000 on a car. for a car payment. In fact, I feel my headline figure of $15,000 is actually generous, since the $16,687 estimate includes dealer fees and taxes.

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The EV Tax Credit: Buy Now or Wait Until 2024?

EV Life

The Treasury Department just released new guidance that will enable consumers to use their $7500 EV tax credits more like an upfront rebate starting in January 2024. However, new vehicle requirements are also taking effect that raise questions about which vehicles will still qualify for tax credits in the new year.

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How Do the Used and Commercial Clean Vehicle Tax Credits Work?

Blink Charging

Usually when discussing federal electric vehicle tax credits in the United States , most people are referring to the Clean Vehicle Credit (formerly the Qualified Plug-in Electric Drive Motor Vehicle Credit) for new EVs. But that’s not the only federal tax credit for buying an EV.