Any reason to buy an EV before or after new year?

[Anonymous]

I have finally decided on the model of EV I want to buy. I haven’t paid super close attention to the IRA provisions related to EVs (just enough to know the rightest answer was before the law went into effect, but here we are), and not sure if there is any advantage to waiting until Jan 1 or getting it done before then. I think I will benefit from getting a home charger installed after 1/1, right? Not sure about any incentives around the car itself. I wouldn’t qualify for anything income-related. And the car I will buy is a Hyundai, if that matters. Thanks.

[Anonymous]

Why wouldn't you wait until Jan 1 to get the tax credit?

[Anonymous]

Never mind I just saw you make too much.

[Anonymous]

Anonymous wrote:I have finally decided on the model of EV I want to buy. I haven’t paid super close attention to the IRA provisions related to EVs (just enough to know the rightest answer was before the law went into effect, but here we are), and not sure if there is any advantage to waiting until Jan 1 or getting it done before then. I think I will benefit from getting a home charger installed after 1/1, right? Not sure about any incentives around the car itself. I wouldn’t qualify for anything income-related. And the car I will buy is a Hyundai, if that matters. Thanks.

Check to see if the one you want still qualifies for rebates. Some cars you can take delivery of before December 31st and get a EV credit for up to $7500 and the income limit does not apply.

https://afdc.energy.gov/laws/electric-vehicles-for-tax-credit#/tab-2022

[Anonymous]

Is it actually on the lot somewhere? Most EVs are only on order for delivery several months from now.

[Anonymous]

Come 1/1 it is useless unless you are poor