Mr. Beast's Guide to Getting a Tax Break on Your New Electric Vehicle

The 'New Clean Vehicle' Tax Credit Comes to the Rescue

Good news fellow Earth lovers! The federal government has just made it easier for us to save big bucks on our electric vehicle purchases. Starting in 2024 we can now get a tax break worth up to $7,500 right at the dealership! No more waiting for tax season to roll around. This means you can walk into a car dealership pick out your dream EV and get an immediate discount on the purchase price. Talk about convenience!

Used EVs Get Some Love Too

But wait there's more! If you're in the market for a used electric vehicle you're in luck. You can also snag an upfront price discount from dealers up to $4,000. It's like getting a high quality pre owned car while also saving some serious cash. It's a win win!

No More Waiting Until Tax Season

In the past we had to twiddle our thumbs and wait until tax season to claim these tax credits. Not only was it a pain in the butt but it also had some financial implications. You see the value of the tax credit couldn't exceed our annual tax liability meaning many of us didn't get the full $7,500. But now thanks to these new rules we can get the full value of the credit regardless of our tax liability. It's like finding a pot of gold at the end of the EV rainbow!

Front and Center: Upfront Discounts

According to the latest data over 70% of smart consumers have chosen to take advantage of the upfront discount option. Who can blame them? Instead of waiting around for a tax refund they want to see the savings right away. And who wouldn't? These upfront discounts are like finding a golden ticket in a chocolate bar. They're that rare!

EV Sales Skyrocket

It seems like everyone is hopping on the electric vehicle bandwagon. In 2023 U.S. electric vehicle sales hit a record breaking 1.2 million up 46.3% from the previous year. It's safe to say that the world is electrifying and we're here for it!

Not All Dealers are in on the Fun Yet

Now here's the catch. Not all car dealerships have jumped on the EV train just yet. So if you're itching to get that upfront discount make sure to check if your preferred dealer is participating. You don't want to be left out in the cold while everyone else is getting sweet deals on their EVs.