"Instant $7,500 Tax Credit for EV Buyers: Purchase and Save!"

Starting in January, the IRS will allow dealers to provide the $7,500 federal EV tax credit immediately at the time of purchase, instead of waiting for it to be claimed through tax returns. This update also applies to the $4,000 credit for used EVs. Buyers must still meet income eligibility requirements and only certain EVs qualify. Dealers will transfer the credit to buyers and provide necessary disclosures, with the IRS sending advance payments within 72 hours. However, concerns have been raised about dealers potentially inflating car prices. Direct-to-customer companies like Tesla and Rivian may also benefit from this new system.