On Oct. 1, 2025, President Trump eliminated the EV tax credit with the OBBBA, impacting car buyers. The $7,500 credit incentivized new EV purchases, reducing costs significantly. Without it, EV prices rise, especially for Tesla models with high tariffs on battery minerals from China. Planning for EV production becomes uncertain due to unpredictable tariff terms.

Despite the loss of the tax credit, experts suggest considering an EV for long-term savings. Automakers are discounting EVs by $7,500 to offset the incentive loss, making them a viable option. Prices may vary, so check local dealerships for bigger discounts on EVs.

Read more at Yahoo Finance: Expert Shares Whether EVs Are Still Worth Buying Now That the Federal EV Tax Credit Is Gone