DELMARVA - Time is running out for electric vehicle buyers to cash in on federal tax credits worth thousands of dollars. The long-standing incentive, which provided up to $7,500 off new EVs and $4,000 off used models, will expire after Sept. 30 under legislation passed this summer as part of President Donald Trump’s so called “Big Beautiful Bill.”
At Hertrich Chevrolet and Cadillac in Salisbury, General Manager Carlos Menendez said the approaching deadline has brought in a noticeable uptick in customers.
“We’ve probably had three customers just in the past two weeks who were considering it, and now they realized that it was done — they purchased,” Menendez said.
The tax credits have added up for U.S. consumers. According to data from LendingTree, Americans received more than $3.3 billion in federal EV credits on their 2023 tax returns.
Dealerships, like Hertrich, say they are working quickly to ensure buyers don’t miss out on the incentive. And shoppers don’t necessarily need to physically drive home an EV before the deadline,
“We would do essentially the entire deal for you. We request the rebates, so make sure you do not miss out on it. We have everything ready for you so you can pick up essentially when you’re ready to pick up. But this way you can get the credit itself,” Menendez said.
For Delaware EV owners, new registration fees are also set to take effect beginning Oct. 1st.