The federal electric vehicle (EV) tax credit, offering up to $7,500 for new EVs and $4,000 for used ones, is set to expire on September 30, 2025, under the One Big Beautiful Bill Act. This looming deadline has sparked a surge in EV purchases as buyers rush to secure significant savings. With automakers and dealers sweetening deals to clear inventory, now is a prime time to snag a bargain on an electric vehicle.
Cheapest EV Deals Available
1. Chevrolet Equinox EV: Starting at $34,995, this SUV offers over 300 miles of range. With the $7,500 tax credit, the price dips below $30,000, making it one of the best value EVs.
2. Nissan Leaf: Priced at $28,140, the Leaf’s base model offers 149 miles of range. The SV Plus trim extends to 212 miles, and the tax credit makes it a steal for budget-conscious buyers.
3. Hyundai Kona Electric: Starting at $32,675, this compact SUV delivers 261 miles of range. With the credit, it’s a compelling option for urban drivers.
4. Used EVs: Models like the Chevrolet Bolt EV or Nissan Leaf (2023 or older) qualify for the $4,000 used EV credit if priced under $25,000, offering incredible value.
State Incentives Boost Savings
Buyers in California, Maine, and Colorado can stack state incentives with the federal credit. California’s Clean Air Vehicle program offers carpool lane access and potential rebates. Colorado provides up to $5,000 in tax credits (reducing in 2026), while Maine offers rebates up to $2,000. Check state-specific rules, as some restrict combining incentives.
Act Fast
With EV sales soaring—July 2025 saw a 20% year-over-year increase—dealers are offering additional discounts, and leasing deals are particularly attractive due to looser eligibility rules.
So are the vehicles on this list ones you’re lusting to pickup before the deadline or are they DISTRESSED MERCHANDISE to you?
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