If you’ve been dreaming about buying an electric vehicle (EV) and getting that nice $7,500 federal tax credit—pay attention. Because of the new “Big, Beautiful Bill” passed by Congress, that offer is ending. Yes, ending. You have until September 30, 2025, to buy and still get that cash back
What was the deal again?
Before the bill, buying a new EV could get you a $7,500 federal tax break. Used EVs were worth up to $4,000 in savings. These are intended to make an electric car more affordable for more people, given that EVs will still tend to cost more upfront.
To give it some context:
- A new electric car is approximately $9,000 more expensive than a gas car.
- A used EV? Still about $2,000 more than its gasoline equivalent.
Those tax credits filled that gap. But after September 30th, poof. They’re gone.
Without the credit, is it still worth it?
Here’s the twist—you can still afford an EV. Why? Because although it costs more to buy, it’s far less expensive to drive.
Let’s compare:
EVs need less maintenance (fewer parts = fewer repairs).
You’ll use a lot of fuel less. Charging costs usually a lot less than tank filling.
Those savings compound.
Real talk: How much can you save?
A study calculated that in over 15 years, the average EV owner saves $7,700 on gas. And that includes both public and private charging. If you plug in at home during off-peak hours, you could save even more—over $14,000 if you live in a state such as Washington, where electricity is cheap.
And you’ll visit the mechanic less. That’s cash saved and less frustration.
But what about the environment?
Here’s the best part: EVs aren’t only kinder to your budget—they’re also kinder to the planet.
Yes, producing an electric car generates more emissions initially. But after you begin driving it, that gap vanishes in a hurry. By about 15,000 miles, an EV is cleaner than a gasoline car. And every mile beyond that just increases the margin.
At the end of the life of the car, the emissions of an EV are roughly half those of a gas vehicle. Even in coal-fired electricity states (such as West Virginia), EVs are still emitting 31% less.
Read this later:
Bottom line: Act now
If you’re looking for that $7,500 credit, don’t delay. You have until September 30, 2025. After that, it’s gone due to the “Big, Beautiful Bill.”
But even if you are running behind with the deadline, buying an EV is still worth your while—if you commute a lot or want to save in the long run. It is marvelous for the environment and brilliant for your pocket.
So, are you ready to make the switch before the offer disappears?
