With the one-time $7,500 federal tax credit/rebate set to expire on September 30 and import tariffs remaining a question mark regarding pricing moving forward, analysts expect electric vehicle sales to take a sharp dive in the months ahead. To help move the metal in the meantime automakers are going all out and offering sales incentives at unheard-of levels, with some being in addition to the $7,500 federal incentive, where applicable.
As it now stands the tax credit/rebate can only be claimed by income-qualifying buyers on a relative handful of EVs that meet certain requirements for domestic production and are priced under $50,000 for passenger cars and $80,000 for trucks and SUVs. They can either be taken at the point of sale or applied to next year’s federal tax return. However, be aware that many automakers have managed to exploit a loophole in the tax credit legislation that passes all or part of the $7,500 to those leasing an EV that otherwise doesn’t qualify for the credit.
Of note, the IRS recently ruled that even though the EV tax credit expires on September 30th, buyers can still qualify if they enter a binding contract and make a payment before the deadline, even if the car is delivered later.
Those who may be thinking about buying or leasing an electric vehicle are strongly urged to take advantage of what may be the last of the red-hot deals among electrified cars, trucks and SUVs before month’s end. That’s because cash rebates as rich as $20,000 are up for grabs in addition to financing deals as low as 0% (with the latter limited to the most creditworthy consumers). And that’s on top of whatever discounts dealerships will offer to winnow down their EV inventories.
We’re listing all of the available incentives on EVs being offered this month below.
Best Deals On Electric Vehicles For September
Acura
- ZDX: $7,500 federal tax credit/rebate
BMW
- iX: $9,000 lease bonus cash
- iX M70: $9,900 lease bonus cash
- i4: $9,900 lease bonus cash
- i5: $9,900 lease bonus cash
- i7: $12,000 lease bonus cash
Audi
- A6 Sportback e-tron/S6 Sportback e-tron: $7,500 lease bonus cash
- Q4 e-tron 45/55: $7,500 lease bonus cash
- Q5 55 TFSI e quattro: $7,500 lease bonus cash
- Q6 e-tron: $7,500 lease bonus cash
- Q7 45/55: $3,000 cash back or lease bonus cash
- Q8 e-tron/Q8 Sportback e-tron: $7,500 lease bonus cash
- RS e-tron GT performance quattro: $10,000 cash back
- S e-tron GT quattro: $20,000 cash back or $7,500 lease bonus cash
- SQ8 e-tron/SQ8 Sportback e-tron: $7,500 lease bonus cash
Cadillac
- Optiq: $7,500 federal tax credit
- Lyriq: $1,250 federal tax credit
- Vistiq: $1,250 federal tax credit
Chevrolet
- Blazer EV: $7,500 federal tax credit/rebate plus $3,500 cash back, or 0% financing for 60 months
- Equinox EV: $7,500 federal tax credit/rebate plus $3,000 cash back, or 0% financing for 60 months
- Silverado EV: $7,500 federal tax credit/rebate plus $4,000 cash back, or 0% financing for 60 months
Dodge
- Charger EV: $7,750 cash back/lease bonus cash, or 0% financing for 72 months
Fiat
- 500e: $1,500 cash back or $7,500 lease bonus cash
Ford
- Mustang Mach-E: 0% financing for 72 months plus $1,000 cash back
- F-150 Lightning: $7,500 federal tax credit/rebate
Genesis
- GV60: $10,000 cash back, or $14,250 lease bonus cash
- Electrified GV70: $7,500 federal tax credit plus $5,000 cash back, or $10,500 lease bonus cash
GMC
- Sierra EV: $7,500 federal tax credit/rebate
Honda
- Prologue: $7,500 federal tax credit plus 0% financing for 60 months
Hyundai
- Ioniq 5: $7,500 cash back plus $7,500 federal tax credit/rebate
- Ioniq 9: $7,500 federal tax credit/rebate plus $5,000 cash back
- Ioniq 6: $7,500 cash back
- Kona Electric: $7,500 cash back
Jeep
- Wagoneer S: $7,500 federal tax credit/rebate plus $10,250 cash back/lease bonus cash, or 0% financing plus $3,000 cash back
Kia
- EV6: $5,000 cash back, or 0% financing for 60 months
- Niro EV6: $7,500 cash back, or 0% financing for 72 months
- Niro EV9: $5,000 cash back, or 0% financing for 48 months
Lexus
- RZ: $1,000 cash back, or 0% financing for 72 months
Mercedes-Benz
- EQB: $11,500 lease bonus cash; 2024 models: $9,500 leasing bonus cash
- EQE: $11,500 lease bonus cash; 2026 models: $7,500 lease bonus cash; 2024 models: $9,500 lease bonus cash
- EQB: $11,500 lease bonus cash; 2026 models: $7,500 lease bonus cash; 2024 models: $9,500 lease bonus cash
MINI
- Countryman SE ALL4: $7,500 lease bonus cash
NISSAN
- Ariya: $10,000 cash back, or $2,000 cash back plus 0% for 72 months
- Leaf: 0% financing for 72 months
Subaru
- Solterra: $7,500 lease bonus cash, or 0% financing for 72 months
Toyota
- bZ4X: $2,500 cash back plus 0% financing for 72 months or $12,000 lease bonus cash
Tesla
- Cybertruck: $7,500 federal tax credit/rebate
- Model 3: $7,500 federal tax credit/rebate
- Model X: $7,500 federal tax credit/rebate
- Model Y: $7,500 federal tax credit/rebate
Volkswagen
- ID.4: $5,000 cash back or $7,500 lease bonus cash
- ID.Buzz: $2,500 cash back or $7,500 lease bonus cash
Volvo
- EX30: $1,000 cash back and 1.99% financing for 72 months
- EX40: $1,000 cash back and 1.99% financing for 72 months
- EX90: $1,000 cash back and 1.99% financing for 72 months
Note that in addition to those noted above, automakers often also grant special cash-back rebates for current owners, those driving competitors’ vehicles, members of the military and first responders. And be aware that incentives may vary from one part of the country to another to address supply and demand issues. Check automakers’ websites under a “Special Offers,” “Local Deals” or similar tab for details on what’s being offered locally. Unless otherwise specified, all of the above offers apply to new 2005 models.
