Would You Buy An EV After The Tax Credit Expires?

President Trump recently signed The One Big Beautiful Bill into law and it spells the end of the clean vehicle credit. The incentive is set to expire on September 30, 2025 instead of the originally planned date of December 31, 2032.

This promises to send shockwaves through the industry as vehicles will no longer get discounts of up to $7,500. Without the incentive, customers will pay more and this will likely make EVs far less appealing.

More: Slate’s Affordable Electric Truck Just Got A Whole Lot More Expensive

That brings us to our question of the day; will the elimination of the tax credit impact your next vehicle purchase? While some people are absolutely against electric vehicles and would never buy one, a number of people have been on the fence.

It’s not hard to understand why as the credit gives consumers up to $4,000 for a used vehicle and up to $7,500 for a new one. The latter makes the Equinox EV particularly appealing as it starts at $33,600 and offers 319 miles (513 km) of range. After factoring in the $7,500 credit and a $2,000 customer cash incentive, you’re looking at a starting price of $24,100 before a $1,395 destination fee.

That’s a stellar deal and it’s roughly on par with the 2025 Trailblazer, which costs $24,890 out the door. The Equinox EV is also only a few grand more than the Trax, which can be had for as little as $21,895.

Of course, when the tax credit expires, the situation will likely change. If Chevrolet holds firm on pricing, the model would set you back $34,995 before incentives. That’s still affordable, but it’s no longer a killer deal.

This could impact the model’s popularity, which has been off the charts. In the second quarter, Chevrolet sold 17,420 Equinox EVs. That made it GM’s best-selling electric vehicle by a considerable margin. In fact, it outsold the entire Cadillac EV lineup, which generated 11,795 sales across the Lyriq, Optiq, Vistiq, and Escalade IQ.

While only time will tell what happens, we don’t have to look far to see how the elimination of the credit could impact things. A number of models lost their eligibility due to production and sourcing requirements in recent years.

Some automakers responded by cutting prices or moving production to the United States. The latter move now appears to have been a costly misstep.