FACT: $7500 ELECTRIC Vehicle Tax Credit | HARDER to Get Than YOU Think

The $7,500 electric vehicle Tax Credit is harder to get than you think, the government is offering free money for electric vehicle owners. But how 'free' is it? The federal government has been telling Americans that they can earn $7,500 on a new tax credit. The deal comes from the recently enacted Inflation Reduction Act. It’s important to know the facts on EV tax credits and that many vehicles will not be eligible. How do you know if you are making the right move?

0:00 $7,500 #ELECTRIC #vehicle #Tax Credit Is HARDER to Get Than YOU Think
0:44 electric vehicle tax credits / inflation reduction act
1:25 requirements to meet full tax credit
2:38 lease vehicles Not eligible
3:07 income caps for credits
3:33 price caps on EVs
3:44 used EVs have limits
3:58 New rules for 2023
4:30 path to EV tax credit
5:00 Best deal to buy before 2023

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oil prices, inflation, yahoo, news, tesla

For the electric vehicle enthusiast, there's good news and bad news. The good news is that the Federal tax credit for electric vehicles has increased to $7,500 – up from the previous level of $5,500. The bad news is that it's harder than you think to actually qualify for the credit.

Given the high prices of gasoline and diesel, it's no surprise that more and more people are looking to buy electric vehicles. However, the high price of batteries and other electric vehicle components means that these vehicles are not always affordable. In this video, we'll talk about the $7500 Federal tax credit for electric vehicles and how you can qualify for it. We'll also discuss the current state of the electric vehicle