{"id":36885,"date":"2023-07-17T16:25:13","date_gmt":"2023-07-17T20:25:13","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/these-are-the-best-deals-in-electric-vehicles-right-now\/"},"modified":"2023-07-17T16:25:15","modified_gmt":"2023-07-17T20:25:15","slug":"these-are-the-best-deals-in-electric-vehicles-right-now","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=36885","title":{"rendered":"These Are The Best Deals In Electric Vehicles Right Now"},"content":{"rendered":"
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Quite literally the day after Elon Musk announced that the long awaited\u2014and long overdue\u2014Tesla Cybertruck was finally going into production, Ford announced some hefty price cuts for the full-size and full-electric F-150 Lightning pickup truck as rich as nearly $10,000, depending on the trim and battery capacity.<\/p>\n

This follows a year that\u2019s seen multiple Tesla EV price adjustments, with both the Model S and Model X dropping by roughly $10,000 in January and the Model Y SUV receiving a $13,000 slash in order to make it eligible for the current federal tax credit incentive program. Tesla\u2019s lowest-cost vehicle, the Model 3 sedan, is now priced at $40,340, or effectively $32,740 for those who can claim the tax credit.<\/p>\n

Deals on EVs are becoming more prevalent due to inventories that have increased by around 350% this year, according to Cox Automotive. With more full-electric models reaching the marketplace, and sales yet to keep pace, dealerships are reportedly sitting on an average 92-day supply of EV\u2019s, which is nearly twice the industry average.<\/p>\n

On top of dealer discounts, automakers\u2019 incentives on EVs\u2014including cash rebates and cut-rate financing deals\u2014are on the rise. We\u2019re counting down the best of them below.<\/p>\n

And that\u2019s on top of the aforementioned federal tax credit of up to $7,500 for those purchasing one of the relative few EVs that are assembled in the U.S. and meet other limitations with regard to battery manufacture and sticker price. We\u2019re featuring them in a separate list.<\/p>\n

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While that tends to eliminate EVs built abroad and those exceeding $50,000 for passenger cars and $80,000 for trucks and SUVs, some automakers whose EVs would not otherwise qualify for the program are able to pass the $7,500 credit via their leasing programs. By law, a commercial leasing entity (in this case an automaker\u2019s captive financing unit) as the de facto \u201cowner\u201d is allowed to claim the tax credit and pass it along to a lessee to reduce his or her monthly payments. We\u2019re also noting which models are being offered with what amounts to leasing bonus cash.<\/p>\n

Here’s a quick rundown of the best financing and cash rebate deals of the month being offered on electric vehicles (some may vary by region\u2014check with a local dealer for details and eligibility):<\/p>\n