How Can You Save on Your EV Purchase?

Since the changeover in presidential administrations, a lot of uncertainty has been swirling about electric vehicles, specifically the fate of the federal EV tax credit. Now, with the passage of the Trump administration’s “One Big Beautiful Bill Act,” we know that the EV tax credit’s expiration date is Sept. 30. If you want to save on an EV, you have until then to receive up to $7,500 in tax credit for a qualifying new EV and up to $4,000 for a used EV — that is, if you and your vehicle qualify.

Related: EV 101: A Video Guide to Electric Vehicles

But what are some other ways to add up the EV savings? Four ways you may be able to lower the cost of your EV include:

• State and local incentives
• Free charging incentives
• Cash discounts and financing deals
• Opting for less range

What Are Your State and Local Incentives?

In addition to federal incentives, many states and local municipalities offer rebates, credits or other incentives on an EV or EV-related purchase. For example, the Illinois Environmental Protection Agency offers rebates to residents for the purchase of a new or pre-owned EV. Residents may qualify to receive up to a $4,000 rebate for the purchase of an all-electric vehicle that is not an electric motorcycle or up to $1,500 for an electric motorcycle.

There are generally offers at a local level, too, and some cities sweeten the deal even more with other types of discounts for EVs. For example, the city of Naperville, Ill., offers residents and commercial entities a $500 rebate for the installation of a Level 2 or DC fast charger. For those in Miami, Fla., owners of EVs may receive a 50% discount on Miami Beach residential parking decals, and non-Miami Beach EV owners may receive a 50% discount on monthly parking permits at city garages and lots.

Look up your state’s energy laws related to electric vehicles.

Which Automakers Offer Free Charging Incentives?

Automakers typically offer two different types of charging incentives: discounts, credits or rebates on the installation of a home charger or complimentary charging at a public-charger network. These offers can be found on automaker websites.

Hyundai, for example, is letting customers choose between a home charging station or credits for public charging. Eligible buyers and lessees of qualifying vehicles have the option to receive a complimentary ChargePoint Home Flex Level 2 charger or a $400 charging credit to use at multiple networks, including ChargePoint, EVgo, Shell Recharge and Ionna. The incentive is available for model-year 2024-25 Ioniq 5 SUVs and Ioniq 6 sedans, as well as model-year 2025 Ioniq 5 N SUVs.

Ford also offers a free home charger and installation with the purchase or lease of a new Ford EV. Eligible vehicles include model-year 2024-25 E-Transit cargo vans and Mustang Mach-E SUVs, as well as model-year 2025 F-150 Lightning pickup trucks.

Which Automakers Offer Cash Discounts or Financing Deals?

Just like with internal-combustion vehicles, automakers offer cash or financing deals on EVs, too. For example, qualified buyers of the 2025 Chevrolet Blazer EV are currently eligible for 0% APR financing for 60 months through Aug. 4. Similarly, the 2025 Kia EV6 is currently being offered with 0% APR financing for up to 60 months, as well as $1,000 in APR bonus cash and $5,000 in customer cash for qualified buyers, through Aug. 4.

Tesla also frequently offers financing deals. Currently, the automaker is offering 0% financing for qualified buyers of a Cybertruck with the semi-autonomous Full Self-Driving system.

These deals can be found on automaker websites; you can also check out more current deals here.

Opt for Less Range for Less Money

If you’re just looking for a grocery getter, consider opting for something with a smaller battery and less range, which generally costs less than a vehicle with a bigger battery and higher range.

Check out our list of the 11 cheapest EVs you can buy right now. Spoiler alert: The Nissan Leaf is in the top spot, though it is not available for the federal tax credit. With a starting price just under $30,000 before any incentives, the cheapest standard-range Leaf S has a 40-kilowatt-hour battery, a modest 147-horsepower electric motor and an EPA-rated 149 miles of range. The Leaf SV Plus, meanwhile, has a 60-kWh battery, a significant range boost to 212 miles and a more livable 214-hp motor.

The loss of the federal EV tax credit is significant: According to EV owners surveyed by Cars.com, more than 50% stated that the tax credit was a key reason that they chose an EV over a gas vehicle. However, without the tax credit, there are other ways to save on EVs if you’re willing to look for them.

More From Cars.com:

• What to Know Before Purchasing an Electric Vehicle: A Buying Guide
• How Much Do Electric Car Charging Stations Cost?
• Thinking About Getting an EV Before the Tax Credit Changes?
• Here Are Four 0% Financing Deals for New EVs Before the Tax Credit Goes Away
• Which Electric Cars Are Still Eligible for the $7,500 Federal Tax Credit?
• Find Your Next Car
• More Electric Car News

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