In the market for an electric vehicle? Here's why 2024 might be the year to buy

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The Treasury Department has made the new clean vehicle tax credit much easier to obtain this year.

If you've been in the market for an electric vehicle, 2024 might be your year to buy one since the Treasury Department has made the “Americans wanting to claim the tax credit, worth up to $7,500, will now be able to do so at the point of sale instead of having to wait until they file their tax returns.

The changes also allow taxpayers to claim a"previously owned clean vehicle” tax credit of up to $4,000 when buying used EV models.

 

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