You have less than 3 months to claim the $7,500 EV tax credit: 'Now is the time to buy,' says car expert If you're planning to buy an electric vehicle, time is running out to claim a federal tax credit worth up to $7,500.

Used electric car and PHEV buyers can only get up to a $4,000 tax credit through the end of SeptemberA 2020 Toyota Prius Prime Plug-In HybridBy Keith BarryNew legislation eliminates the EV tax

Automakers are urging customers to snap up electric vehicles before a $7,500 U.S. tax credit goes away this fall.