Free Worksheet
What does an EV actually cost you now?
The rules changed, and most advice online has not caught up. The federal clean vehicle purchase credits — up to $7,500 for a new EV, up to $4,000 for a used one, and the commercial credit that funded most lease deals — terminated for vehicles acquired after 30 September 2025.
If you are shopping today, none of those apply to you. A great deal of EV content still quietly assumes $7,500 is coming off the price. This worksheet is built for the rules as they now stand.
That sounds like bad news, and for the sticker price it is. But the federal credit was never where most of the lifetime savings came from — it was simply the most visible part. Fuel and maintenance costs still favour an EV for most drivers, and some incentives survived.
This five-page worksheet gets you an honest number instead of an optimistic one.
What is inside
- What actually survived: state, local and utility programmes, utility EV rate plans, and the vehicle loan interest deduction — with the caveats each one carries
- A purchase-side worksheet that nets out incentives you have personally confirmed, plus charger hardware and installation
- A running-cost comparison against the specific petrol car you would otherwise buy — fuel versus electricity, with a correction for public fast charging
- Maintenance, insurance and state EV fees — the lines most comparisons quietly omit
- A break-even calculation with three bands for reading the result honestly
- A seven-point verification list to work through before you sign anything
Who this is for: anyone comparing a specific EV against a specific petrol car who wants the real arithmetic rather than a brochure figure.
Get the worksheet
Prefer to skip the form? Download the worksheet directly (PDF).
Not tax, legal or financial advice. General consumer information only. Tax credits, deductions, rebates and incentive programmes change frequently, vary by jurisdiction and personal circumstances, and may close or run out of funding without notice. Federal clean vehicle purchase credits terminated for vehicles acquired after 30 September 2025; nothing here should be read as advice that any specific credit, deduction or rebate is available to you. Verify all programme details with the official administering body and consult a qualified tax professional before making a purchase decision.