If you buy your EV after January 1, you'll get the tax credit right away. But you might risk losing out on the EV you want.
The new guidelines benefit buyers who are taking the plunge to plug-in.It might be better to wait a few months to buy that EV you've been eyeing — but that advice comes with a caveat.Throughout 2023, car shoppers have been able to take advantage of revised EV tax credits incentivizing them to buy plug-in.
It also places the onus of juggling the tax credits to dealers. Dealers must be registered with the IRS to be able to participate, and the IRS is incentivizing them to participate by saying they will get paid back within 72 hours. "It's been shown time and time again that particularly for low and middle-income households, upfront rebates and purchase prices are a much bigger driver than tax credits at the end of the year," she added."It may make the difference for affordability.
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