this post was submitted on 04 Jul 2025
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Electric Vehicles
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Let’s face it, most buyers will end up spending above $30k with add-ons and modifications. Not a lot of buyers will be willing to leave it unpainted/unprotected and with no stereo/entertainment.
Also to be fair, not a lot of people can actually take advantage of the tax credits.
How so? I thought it was a blanket credit: battery made in US, half credit, car assembled in US, the other half.
Yeah, I looked into it myself because I was obviously interested in an EV, but from what I understood, basically if you expect a refund, you get nothing.
The credit is a one time discount off your owed taxes for that one year only.
So I looked it up further, and I'm yet to confirm this with my tax guru, but it looks like your taxes owed are reduced by the credit. So it's not related to whether you get a ~~thing~~ return or not (as that's tied to your withholding).
Edit: autocorrupt.
Tax credit vs tax rebate/refund probably. As I understand it tax credits you can only take advantage of if you pay enough in taxes, as it's essentially a discount on federal taxes that you owe the government.
I see. As I understand it, automakers successfully lobbied for the credits to be used at the sale, so I wonder if that solved that issue. Moot point in two months, anyway.