As the US President Trump decided in the summer, the tax credits of $7,500 for the purchase of new electric vehicles and $4,000 for the purchase of used electric cars will end on September 30. “Those down payments will qualify the lending arms for the federal $7,500 tax credit on those vehicles, according to the documents and dealers. Experts expect there to be another rush for electric cars in September in order to take advantage of the subsidy. The US tax credit was introduced in 2022 under Trump’s predecessor Joe Biden as part of the Inflation Reduction Act. Since August 2023, the tax credit has also been available for used electric cars, although these had to meet certain requirements to qualify for the subsidy.