Well, that sounds like an awful lot of money. Since the beginning of the year, as of today, February 14th (Valentine’s Day), the Treasury Department has granted a staggering 135 million dollars in EV tax rebates. Surprisingly, this substantial sum has been distributed in just about 6 weeks since the start of the year.

Quick Calculation Raises Questions
It’s been about 6 weeks since the beginning of the year, but according to the Treasury Department, 135 million in EV tax rebates have been given out since the start of this year through February 6th. That means it’s not even a full 6 weeks; it’s merely 5 weeks. The quick calculation raises questions and piques curiosity.

Significant Credits for Dealers
What does this mean for buyers? Well, the tax rebates are substantial—$7500 for new vehicles and $4000 for used ones. Interestingly, this credit is given right on the spot to the dealer, making it an immediate benefit. However, this poses a unique situation for used EVs and creates potential opportunities for savvy buyers.

The Potential Bargain of the Century
Dealers are finding it challenging to sell used electric vehicles at their listed prices. With cars piling up on lots and dealers unable to give them away, it’s becoming a buyer’s market. The panic among dealers is evident because they can’t afford to keep these vehicles on their lots for too long before facing financial repercussions.

A Golden Opportunity for Used EV Buyers
For those considering a used electric vehicle, this could be the deal of the century. Dealers, desperate to move these vehicles, might be willing to negotiate prices significantly. Stand your ground, don’t succumb to their tactics, and you might secure a remarkable deal, especially if you’re in the market for a second car.

Cautionary Considerations for Buyers
While a used EV can be an excellent second car, buyers need to ensure it aligns with their lifestyle. Checking the battery’s health and lifespan, and most importantly, verifying there’s no damage history, is crucial. Electric vehicles with a history of damage pose a high risk, as potential battery damage might not be covered by insurance or warranty in the future.