Right now if you buy an electric vehicle, you’ll be eligible for a federal tax credit up to $7,500 as long as that automaker hasn’t sold over 200,000 EVs yet. Well unfortunately if you want to purchase a Tesla Model S, Model X or Model 3, you better act fast, since the federal tax credit for Teslas is about to expire.
Right now Tesla has already surpassed the 200k milestone, so buyers can now only get a tax credit up to $1,875, but if you take delivery after December 31, 2019, the tax credit will be completely gone.
Tesla is urging buyers to place their orders now, since we’re now just a month away from the expiration of the federal tax credit. According to Tesla, “orders placed near the end of the year are not guaranteed to be delivered by December 31.”