"With tax credits unfortunately on the chopping block there may not be a better time to buy or lease a new EV than right now," Chris Harto, senior policy analyst at Consumer Reports, emphasized the urgency for consumers to consider purchasing an electric vehicle. He noted that potential cuts to subsidies suggest that acting quickly may enable buyers to take advantage of the existing financial benefits before any changes might take effect in the future.
As reported, buyers can now cash in the credit as an upfront discount at the dealership under the changes introduced by the 2022 Inflation Reduction Act (IRA). This new feature allows eligible consumers to receive up to $7,500 off the vehicle price immediately, providing them with confidence amidst looming uncertainties over the future of the tax credit.
The article also highlights that one noteworthy option for potential electric vehicle buyers is the Chevrolet Equinox EV, which, thanks to the subsidy, starts at around $27,500 and boasts an impressive EPA-rated range of 319 miles. This vehicle exemplifies how the tax credit can make electric options more accessible and affordable, especially given the 21 models currently eligible for such incentives.
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