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n=e.getConfig();"smartphone"===n.device&&("finance"===n.property&&"crunch"===n.ytheme&&e.addElementListener(t.searchInput,"click",(function(){var n,o;n="search_input_focus_click",null!==(o=re())&&(oe[n]||(oe[n]=o)),e.addElementListener(t.searchForm,"click",(function(){if(t.ybar){if(t.ybar.classList.contains("ybar-searchbox-assist-fullscreen"))return;t.ybar.classList.add("ybar-searchbox-assist-fullscreen"),t.ybar.classList.add("ybar-searchbox-assist-fadein")}if(!document.documentElement.classList.contains("ybar-overlay")){document.documentElement.classList.toggle("ybar-overlay"),document.body.classList.add("ybar-overlay-noscroll");te("ybar","websrch","",{elm:"expand",subsec:"searchbox",itc:"1"})}}))})),e.addElementListener(t.searchBoxPlaceholder,"click",(function(){zt(e,t)})),e.addElementListener(t.searchBoxPlaceholder,"keydown",(function(n){var 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Kt(e,o.submitSearchBtn,m(m({},Jt),{label:null!==(t=n.i18n.root.SEARCH_TOOLTIP_WEB)&&void 0!==t?t:"Search the web",containerClass:"".concat(Yt.tooltip," ").concat(Yt.tooltip__web),tooltipParentElm:o.clearSearchBtn.parentElement}))}));var Vt="_yb_tdk4ba",$t="_yb_hkd17a",Xt="_yb_rtzclf",Zt="_yb_tdbhj6",Qt="_yb_de52ef",en="_yb_9hwrey",tn="_yb_slc8ta",nn="_yb_bf0svp",on="_yb_hjic9z";ge("ybar-mod-adaptivenav",(function(e){var t=document.querySelector("#ybar-l1-more-menu ul"),n={moreDropDown:document.querySelector(".".concat(Vt)),moreBtn:document.querySelector(".".concat($t)),wrap:document.querySelector(".".concat(Zt)),moreSectionTitle:document.querySelectorAll(".".concat(Qt)),editionsCtaBtn:document.querySelector(".".concat(en)),editionsMenu:document.querySelector(".".concat(tn)),closeBtn:document.querySelector(".".concat(nn)),moreMenuDropDownHeight:t?"".concat(t.offsetHeight+48,"px"):"0"};new 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credit, but the IRS is giving buyers and automakers a break by allowing a “written binding contract” for the purchase of the vehicle to qualify for the credit in lieu of delivery of that vehicle by Sept. 30.Over the weekend, automakers like GM (GM), Ford (F), Tesla (TSLA), and Rivian (RIVN) tried to entice Americans to go electric. Tesla even updated its website to say “order by September 30” and included a countdown clock on the site.An employee cleans a 2025 Model Y Tesla vehicle in a Tesla showroom in New York City on Feb. 16, 2025. (CHARLY TRIBALLEAU/AFP via Getty Images) · CHARLY TRIBALLEAU via Getty ImagesBut despite traditional media and social sites’ ongoing coverage of the tax credit's expiration, it seems a huge percentage of Americans don’t understand how the credits work.“While most shoppers have heard of the credit, a recent study from Cars.com shows only about a third really understand how it works,” Cars.com Detroit bureau chief Aaron Bragman said to Yahoo Finance.“That’s important, because nearly 80% of car shoppers considering EVs say it factors into their decision to go electric, and almost half say they might speed up their plans before the deadline hits,” he added.Read more: Why electric car insurance will cost you more and how to saveHere’s how the rules work.To be eligible, the EVs need to be assembled in North America and must also prove battery materials and components do not originate from countries deemed foreign entities of concern (FEOC), which includes China, Russia, and North Korea. A full list of eligible vehicles is available on the fueleconomy.gov website.Once that’s out of the way, there are price restrictions. For vehicles like coupes and sedans, the MSRP limit to get the tax credit is $55,000. For trucks and SUVs, the limit is $80,000.Then, buyer income must be limited to $300,000 in adjusted gross income for joint filers or $150,000 for individual filers to qualify.Finally, there is the lease exemption. Under the law, leasing EVs falls under the commercial EV credit of the law (known as the 45W credit for commercial clean vehicles), which doesn’t require North American assembly or income requirements.Basically the rule says any taxpayer (and automaker) that leases a clean vehicle to customers is eligible to claim the commercial EV credit, meaning every foreign automaker from Kia (000270.KS) to Mercedes (MBGAF) qualifies, as well as very expensive EVs from any automaker.Another part of the confusion is how the credit is paid out.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,659.59 -1.62 (-0.02%)Dow 3046,223.35 -92.72 (-0.20%)Nasdaq22,601.12 +9.97 (+0.04%)Russell 20002,421.34 -13.90 (-0.57%)VIX16.25 +0.13 (+0.81%)Gold3,876.40 +21.20 (+0.55%)PortfolioSign in to access your portfolioSign inTop gainersWOLF Wolfspeed, Inc. 30.74 +8.64 (+39.06%)CRWV CoreWeave, Inc. 141.09 +18.57 (+15.15%)UNFI United Natural Foods, Inc. 36.25 +4.49 (+14.14%)PATH UiPath Inc. 13.74 +1.17 (+9.36%)SMTC Semtech Corporation 67.91 +5.93 (+9.57%)Top losersFLY Firefly Aerospace Inc. 28.78 -8.18 (-22.15%)ETSY Etsy, Inc. 66.65 -7.69 (-10.34%)HUBS HubSpot, Inc. 469.40 -50.49 (-9.71%)DKNG DraftKings Inc. 38.50 -3.81 (-9.01%)RSI Rush Street Interactive, Inc. 20.47 -1.93 (-8.62%)Most activeNVDA NVIDIA Corporation 186.94 +5.06 (+2.78%)OPEN Opendoor Technologies Inc. 8.24 +0.03 (+0.43%)NIO NIO Inc. 7.58 +0.36 (+5.06%)SNAP Snap Inc. 7.94 -0.46 (-5.54%)INTC Intel Corporation 33.49 -0.99 (-2.86%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersCRWV CoreWeave, Inc. 141.59 +19.07 (+15.57%)WOLF Wolfspeed, Inc. 30.62 +8.51 (+38.53%)PATH UiPath Inc. 13.78 +1.22 (+9.71%)HOOD Robinhood Markets, Inc. 139.74 +3.02 (+2.21%)PYPL PayPal Holdings, Inc. 68.00 -1.68 (-2.41%)Top economic events