When to buy used EV in 2025?

[Anonymous]

I’m planning to purchase a used EV in 2025. Should I purchase in January, before the next administration comes in, or wait until I really need the car this summer?

I’m looking at Audi or Volvo. I feel like they can’t get any lower but worry about price creep the longer I wait.

[Anonymous]

Anonymous wrote:I’m planning to purchase a used EV in 2025. Should I purchase in January, before the next administration comes in, or wait until I really need the car this summer?

I’m looking at Audi or Volvo. I feel like they can’t get any lower but worry about price creep the longer I wait.

Why not get a Tesla ?

[Anonymous]

Not a fan of the big screen. I’m tech averse so trying to find something that won’t distract or confuse me.

[jsteele]

Anonymous wrote:I’m planning to purchase a used EV in 2025. Should I purchase in January, before the next administration comes in, or wait until I really need the car this summer?

I’m looking at Audi or Volvo. I feel like they can’t get any lower but worry about price creep the longer I wait.

If Trump goes ahead with his tariffs, the prices of new Audis and Volvos will go up. That might lead to the price of used ones also going up. Alternatively, both brands might decide to at least temporarily abandon the US market for the EVs. In that case, the price of used ones might drop since they will be more or less abandoned products. So, it could go either way. Personally, I would do it before Trump takes office.

[Anonymous]

Buy it this year so you can get tax credit on 2024 taxes

[Anonymous]

If you want to be sure to get the tax credit I would do it in 2024.

[Anonymous]

Anonymous wrote:If you want to be sure to get the tax credit I would do it in 2024.

That tax credit is going to be tough to change. There is over 315 billion in battery and car products plants coming online. These are mostly in red states. Lots of maga Republicans elected house members from bright red districts fighting this. The Senate is the same. Also all the big US manufacturers will fight this. The house/Senate have thin margins.

The plant in Ga is 8,000 jobs around Savannah. Same thing in S. Carolina, Alabama and 5 other states

The tariffs will increase cost. Car parts travel multiple times over the border.

So buy before Jan 20

[Anonymous]

OP here. I don’t think I qualify for a tax credit on a used or new EV. HHI is 600k

[jsteele]

Anonymous wrote:OP here. I don’t think I qualify for a tax credit on a used or new EV. HHI is 600k

You don't qualify and unless there is something wrong with the specific car, an Audi or Volvo won't qualify either because the used EV credit is only for cars that cost less than $25k.

You could get a credit on a new EV by leasing. There is a loophole that allows leasing companies to take the credit — even on cars that otherwise wouldn't qualify — and then offer you a reduced price on a lease.