2025 EV TAX CREDIT – LEASING & BUYING

Time Left to Claim the Lease-Based EV Tax Credit:
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(Current scheduled end date: September 30, 2025)
What is the EV Tax Credit?
- The federal EV tax credit offers up to $7,500 off qualifying new electric vehicles.
- For 2025, many credits are applied instantly at the dealership as a point-of-sale discount for buyers, or may reduce your lease payment if you lease (see below).
Leasing vs Buying: Who Gets the Credit?
Buy | Lease | |
---|---|---|
Who claims the credit? | You (if eligible) | Lessor (leasing company) |
How do you get the savings? | Point-of-sale discount or claim on your taxes |
Leasing company keeps the credit. Savings may be passed on, but it’s not guaranteed. Ask your dealer how the credit is being used. |
Do you personally file for the credit? | Yes, if you buy and qualify | No — you do not file for the credit on your taxes |
Is it automatic? | If you qualify | No — always confirm with the dealer! |
Income/price limits? | Yes (see eligibility) | No |
Who gets the credit after September 30, 2025? | Depends on new laws | N/A (credit scheduled to end) |
- If you lease: The leasing company claims the credit, not you. Some or all of the savings may be included in your lease offer, but this is not required — always ask the dealer how the credit is being used.
- If you buy: You may be eligible to claim the credit directly, if you meet all requirements.
Quick Facts & Fine Print
- Must purchase or lease an eligible new EV (see dealer for list)
- Point-of-sale discount for buyers requires using a participating dealer
- Lease credit ends September 30, 2025 unless renewed by Congress
- Consult your tax advisor for personal eligibility
Disclaimer: This page is for informational purposes only. Tax credit amounts and eligibility can change at any time. Always check fueleconomy.gov or irs.gov for the latest rules.