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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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Chevy’s Bolt EV is a steal at under $20,000 using the IRS tax credit upfront

Baua Electric

You can score a 2023 Chevy Bolt EV for under $20,000 with new IRS rules allowing you to use the tax credit as a down payment. You can buy a Chevy Bolt EV for under $20,000 Rather than waiting until next year’s tax return, you can now use the EV tax credit at the point of sale. But you may want to act fast.

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Ford reportedly eliminates lease-to-buy option on electric vehicles

Teslarati

Ford informed dealers in a letter that it was discontinuing the end-of-lease purchase option for the E-Transit van, Mustang Mach-E, and F-150 Lightning. ” Ford, GM, Stellantis, Toyota push for Congress to eliminate EV tax credit limits.

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Everyone’s EV

Electric Auto Association

GM to the rescue “I attended the LA Auto Show and found that the best EV-buying tips came from Chevrolet,” Fellows recalled. The GM reps advised buyers to reject any mandatory fees or market adjustments. ‘Go Go online, build the car you want, print the price out, and present it to the dealer’ is what they told me.” “It

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Hyundai fast-tracks start of EV production in the US as it gains recognition with its own day

Baua Electric

Hyundai initially planned to begin production early next year, but the automaker is plowing ahead with the $7,500 federal tax credit on the line. And that was without its electric models qualifying for the $7,500 EV tax credit (only through a leasing loophole). We can help you find the perfect model at the right price.

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Chevrolet Volt MSRP Starts at $41,000, $33,500 Net of Full Federal Credit; 3-year Lease Program with Option to Buy

Green Car Congress

GM will introduce the Chevrolet Volt extended range electric vehicle with a starting MSRP of $41,000; after applying the Federal income tax credit of $7,500, the price drops to $33,500. To find a participating Chevrolet Volt dealer, customers are directed to [link].

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Kia EV9 wins, Fisker franchises, Tesla tops BYD, leather in EVs: The Week in Reverse

Baua Electric

Which EVs made the tax-credit shortlist in 2024? The Kia EV9 is Green Car Reports’ Best Car To Buy 2024. 2024 Rivian R1S A preliminary list of 2024 EVs qualifying for the tax credit was released early this week by the EPA, and as expected there are very few models qualified for the full $7,500 amount.

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