What ended
- New EV credit (30D), up to $7,500: not available for cars acquired after September 30, 2025.
- Used EV credit (25E): same date.
- Commercial credit (45W): same date. This was the route that put $7,500 into lease deals.
- Home charger credit (30C): not available for property placed in service after June 30, 2026.
What is new
Through 2028, you can deduct up to $10,000 a year of interest on a loan for a new, US-assembled vehicle. It phases out above $100,000 of income, or $200,000 on a joint return. The law and the September 2026 final rules have no fuel test, so a qualifying EV looks eligible, but the IRS has not said so about EVs by name. Leases don't count. Ask a tax professional.
What is left
States. California started MyFirstEV in August 2026: $3,500 on a new car for first-time ZEV buyers, with leases eligible, through participating automakers. Others pay rebates from limited funds, and money runs out. See your state.
Prices moved too
Automakers cut some prices and pulled some models after the credit ended. Maker cash on leases is common. Ask for it by name.