Car shoppers cannot expect a tax break, now that the tax credit on EVs ended Sept. 30. But oddly enough, we're still talking about some lucrative lease deals and big incentives on electric vehicles in mid-October.
"Dollar for dollar you will not find a better deal on an equivalent ICE vehicle," Ivan Drury, director of insights at Edmunds, told the Detroit Free Press, part of the USA TODAY Network.
But Drury warns that consumers shouldn't just focus on price alone. They need to make sure that they're buying an electric vehicle now, instead of a traditional internal combustion engine, based on the car or truck's features.
It's essential, Drury said, that the charging infrastructure works for your lifestyle. If it doesn't, he said, a consumer who buys an EV on impulse might end up frustrated and discover that they made a more costly mistake in the long run than the dollars saved on the initial deal.
Early in the game, General Motors and Ford Motor both grabbed attention by engineering a crafty plan to keep lower-cost EV deals going by using an Internal Revenue Service interpretation relating to delivery to tap into the $7,500 tax credit beyond Sept. 30. But both companies have since put a halt to those plans.
