One of the benefits of buying an EV is the potential to earn state and federal incentives — including up to $7,500 in tax credits from the IRS. On the down side, the Inflation Reduction Act reduced the number of models qualifying for the federal giveback — but new guidelines mean that, if your EV does qualify, you now get your rebate instantly, rather than waiting until you file your annual taxes.
![You Now Can Apply Federal EV Tax Credits as Downpayment](https://headlight.news/wp-content/uploads/2023/10/2022-Toyota-RAV4-Prime-XSE-charging-port-REL-1080x675.png)