With Federal Tax Credits Ending, These EV Deals Are Unbelievable

Posted by Jim Gorzelany, Senior Contributor | 6 hours ago | /cars-bikes, /innovation, /lifestyle, /transportation, Cars & Bikes, Innovation, jimgorzelanyblog, Lifestyle, standard, Transportation | Views: 14

Automakers are going all out and offering sales incentives on electric vehicles at unheard-of levels this month.

With the one-time $7,500 federal tax credit/rebate set to expire on September 30 and import tariffs remaining a question mark regarding pricing moving forward, analysts expect electric vehicle sales to take a sharp dive in the months ahead. To help move the metal in the meantime automakers are going all out and offering sales incentives at unheard-of levels, with some being in addition to the $7,500 federal incentive, where applicable.

As it now stands the tax credit/rebate can only be claimed by income-qualifying buyers on a relative handful of EVs that meet certain requirements for domestic production and are priced under $50,000 for passenger cars and $80,000 for trucks and SUVs. They can either be taken at the point of sale or applied to next year’s federal tax return. However, be aware that many automakers have managed to exploit a loophole in the tax credit legislation that passes all or part of the $7,500 to those leasing an EV that otherwise doesn’t qualify for the credit.

Those who may be thinking about buying or leasing an electric vehicle are strongly urged to take advantage of what may be the last of the red-hot deals among electrified cars, trucks and SUVs before month’s end. That’s because cash rebates as rich as $20,000 are up for grabs in addition to financing deals as low as 0% (with the latter limited to the most creditworthy consumers). We’re listing all of the available incentives on EVs being offered this month below.

Of note, the IRS recently ruled that even though the EV tax credit expires on September 30th, buyers can still qualify if they enter a binding contract and make a payment before the deadline, even if the car is delivered later.

Best Deals On Electric Vehicles For September

Acura

ZDX: $7,500 federal tax credit/rebate

BMW

iX: $9,000 lease bonus cash
iX M70: $9,900 lease bonus cash
i4: $9,900 lease bonus cash
i5: $9,900 lease bonus cash
i7: $12,000 lease bonus cash

Audi

A6 Sportback e-tron/S6 Sportback e-tron: $7,500 lease bonus cash
Q4 e-tron 45/55: $7,500 lease bonus cash
Q5 55 TFSI e quattro: $7,500 lease bonus cash
Q6 e-tron: $7,500 lease bonus cash
Q7 45/55: $3,000 cash back or lease bonus cash
Q8 e-tron/Q8 Sportback e-tron: $7,500 lease bonus cash
RS e-tron GT performance quattro: $10,000 cash back
S e-tron GT quattro: $20,000 cash back or $7,500 lease bonus cash
SQ8 e-tron/SQ8 Sportback e-tron: $7,500 lease bonus cash

Cadillac

Optiq: $7,500 federal tax credit
Lyriq: $1,250 federal tax credit
Vistiq: $1,250 federal tax credit

Chevrolet

Blazer EV: $7,500 federal tax credit/rebate plus $3,500 cash back, or 0% financing for 60 months
Equinox EV: $7,500 federal tax credit/rebate plus $3,000 cash back, or 0% financing for 60 months
Silverado EV: $7,500 federal tax credit/rebate plus $4,000 cash back, or 0% financing for 60 months

Dodge

Charger EV: $7,750 cash back/lease bonus cash, or 0% financing for 72 months

Fiat

500e: $1,500 cash back or $7,500 lease bonus cash

Ford

Mustang Mach-E: 0% financing for 72 months plus $1,000 cash back
F-150 Lightning: $7,500 federal tax credit/rebate

Genesis

GV60: $10,000 cash back, or $14,250 lease bonus cash
Electrified GV70: $7,500 federal tax credit plus $5,000 cash back, or $10,500 lease bonus cash

GMC

Sierra EV: $7,500 federal tax credit/rebate

Honda

Prologue: $7,500 federal tax credit plus 0% financing for 60 months

Hyundai

Ioniq 5: $7,500 cash back plus $7,500 federal tax credit/rebate
Ioniq 9: $7,500 federal tax credit/rebate plus $5,000 cash back
Ioniq 6: $7,500 cash back
Kona Electric: $7,500 cash back

Jeep

Wagoneer S: $7,500 federal tax credit/rebate plus $10,250 cash back/lease bonus cash, or 0% financing plus $3,000 cash back

Kia

EV6: $5,000 cash back, or 0% financing for 60 months
Niro EV6: $7,500 cash back, or 0% financing for 72 months
Niro EV9: $5,000 cash back, or 0% financing for 48 months

Lexus

RZ: $1,000 cash back, or 0% financing for 72 months

Mercedes-Benz

EQB: $11,500 lease bonus cash; 2024 models: $9,500 leasing bonus cash
EQE: $11,500 lease bonus cash; 2026 models: $7,500 lease bonus cash; 2024 models: $9,500 lease bonus cash
EQB: $11,500 lease bonus cash; 2026 models: $7,500 lease bonus cash; 2024 models: $9,500 lease bonus cash

MINI

Countryman SE ALL4: $7,500 lease bonus cash

NISSAN

Ariya: $10,000 cash back, or $2,000 cash back plus 0% for 72 months
Leaf: 0% financing for 72 months

Subaru

Solterra: $7,500 lease bonus cash, or 0% financing for 72 months

Toyota

bZ4X: $2,500 cash back plus 0% financing for 72 months or $12,000 lease bonus cash

Tesla

Cybertruck: $7,500 federal tax credit/rebate
Model 3: $7,500 federal tax credit/rebate
Model X: $7,500 federal tax credit/rebate
Model Y: $7,500 federal tax credit/rebate

Volkswagen

ID.4: $5,000 cash back or $7,500 lease bonus cash
ID.Buzz: $2,500 cash back or $7,500 lease bonus cash

Volvo

EX30: $1,000 cash back and 1.99% financing for 72 months
EX40: $1,000 cash back and 1.99% financing for 72 months
EX90: $1,000 cash back and 1.99% financing for 72 months

Note that in addition to those noted above, automakers often also grant special cash-back rebates for current owners, those driving competitors’ vehicles, members of the military and first responders. And be aware that incentives may vary from one part of the country to another to address supply and demand issues. Check automakers’ websites under a “Special Offers,” “Local Deals” or similar tab for details on what’s being offered locally. Unless otherwise specified, all of the above offers apply to new 2005 models.

Forbes