What Is the Federal EV Tax Credit and When Does It Expire?
The federal government is offering up to $7,500 through the Clean Vehicle Credit program for qualifying electric vehicle purchases. This program is scheduled to end on September 30, 2025, unless extended. If you're considering an EV, now is the time to act. An additional credit for installing a home EV charger is available through June 30, 2026.
How Is the $7,500 EV Credit Structured?
The tax credit is split into two parts:
- $3,750 for meeting U.S. battery component sourcing requirements
- $3,750 for meeting mineral content sourcing standards
Only EVs that meet both thresholds qualify for the full amount.
What Requirements Must a Ford EV Meet?
To be eligible for the tax credit, your Ford EV must:
- Be brand new and assembled in North America
- Have a battery capacity of at least 7 kWh
- Be from a qualified manufacturer
- Be priced under $80,000 for trucks, vans, and SUVs or under $55,000 for other vehicles
- Be sold by a dealership that reports the sale to the IRS
- Be purchased by a buyer who meets federal income limits
What Makes Right Now the Smartest Time to Purchase an Electric Vehicle Before Incentives Expire?
Once these tax credits expire, there’s no guarantee they’ll return. Acting now lets you take advantage of thousands in savings, especially if you also plan to install a home EV charger. Waiting could mean losing out.
How Can Prosper Ford Help You Take Advantage?
Our team can guide you through each step—confirming eligibility, helping with paperwork, and making sure your vehicle qualifies. We’re here to simplify the process so you can make the most of the incentives before they’re gone.
Visit Prosper Ford in Prosper, TX
Explore your EV options and take advantage of federal savings before time runs out.