My wife and I are debating whether to buy an I5 right away or to wait until 2024 and let the dealership handle the $7500 credit. I am attempting to ascertain whether the I5 will still be eligible in 2024 based on the location of the battery manufacturing and vehicle assembly. Is there anyone here who knows?
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Consider using the lease loophole or keep an eye on available incentives and make your purchase when the timing is favorable.
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Whether the BMW i5 will still be eligible for the $7,500 credit in 2024 largely depends on factors like battery manufacturing and vehicle assembly location, which affect the vehicle’s eligibility for federal tax credits. As of now, the i5 may not qualify if its components or assembly do not meet the specific criteria set by the Inflation Reduction Act, which includes requirements for North American manufacturing and critical minerals sourcing. Check the latest IRS guidelines and BMW’s official updates for any changes to eligibility. It might also be useful to consult with a dealership or tax professional for the most accurate and current information on tax credits and incentives.
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The Hyundai IONIQ 5 may qualify for various incentives and rebates in 2024, depending on local and federal regulations. Check for eligibility under the U.S. federal EV tax credit, state-specific programs, and other regional incentives. Ensure the model meets criteria like battery capacity and assembly location. Visit official government websites for the most current information.