As of January 1, 2024, the federal EV tax credit has become a point of sale rebate. Go to the dealer, agree to purchase an electric or plug-in hybrid electric car that qualifies for the federal EV incentive, and shazam! That $7500 incentive (or $3750 incentive in some cases) gets deducted immediately from the price you pay. Technically what is happening is you sign a form assigning your entitlement to the dealer, the dealer pays you, and the Treasury Department reimburses the dealer within three days. But Tesla doesn’t have any traditional dealers, so how does that work?
