Last Chance to Save: Federal EV Tax Credit Ends September 30

If you’ve been considering making the switch to an electric vehicle (EV), now is the time to act. The federal EV tax credit of up to $7,500—a major incentive for EV buyers—is officially ending on September 30, 2025. At Northtown Hyundai in Amherst, NY, we want to make sure our customers are informed and ready to take advantage of this opportunity before it’s gone.

What’s Changing?

The federal EV tax credit, originally extended through 2032 under the Inflation Reduction Act, is being phased out early due to recent legislation. After September 30, buyers will no longer be eligible for the credit on new or used electric vehicles, including popular models like the Hyundai IONIQ 5 and Hyundai Kona Electric. 

How to Qualify Before the Deadline

To secure the credit: 

• You must sign a binding purchase agreement and make a payment (even a small deposit or trade-in) by September 30.
• You do not need to take delivery of the vehicle by that date, thanks to updated IRS guidance.
• The vehicle must meet eligibility requirements, including final assembly in North America and MSRP limits.

Why This Matters

The $7,500 credit can significantly reduce your monthly payments—by as much as $100–$150/month depending on your financing terms. Without it, the cost of owning an EV could rise, especially as manufacturers adjust pricing and incentives in response to the policy change.

Local Incentives Still Available

Even after the federal credit ends, New York State’s Drive Clean Rebate offers up to $2,000 off eligible EVs at the point of sale. Combined with dealer incentives, there are still ways to save—but the biggest opportunity ends this month.

Act Now at Northtown Hyundai

We’re here to help you navigate your EV purchase and ensure you don’t miss out on this historic incentive. Our team can walk you through:

• Eligible Hyundai EV models
• Financing and leasing options
• How to lock in your tax credit before the deadline

Schedule your test drive today or stop by our showroom in Amherst, NY. Let’s get you plugged in before the credit powers down!