The Cheapest EVs Eligible For The Federal Tax Credit

Electric vehicles (EVs) are more accessible than ever, with models now priced under $45,000, and some even under $35,000. For budget-conscious buyers, the federal EV tax credit can make these already affordable options even more appealing. The credit, worth up to $7,500, can significantly reduce the upfront cost of a new EV, making it easier for families and individuals to make the switch to electric. But with recent legislative changes, time is running out to take advantage of this incentive.

To qualify for the full $7,500 rebate, a vehicle must meet several criteria. It must be assembled in North America, fall under specific MSRP limits ($55,000 for cars and $80,000 for SUVs and trucks), and use battery components sourced from approved countries. Additionally, buyers must meet income limits—$150,000 for single filers and $300,000 for joint filers. The credit can be applied at the point of sale, reducing the purchase price immediately rather than waiting for a tax refund.

However, this generous incentive will soon be gone. Due to recent changes in federal tax policy, the EV tax credit is now set to expire on September 30, 2025. That means eligible vehicles must not only be purchased but also delivered by that date. As the deadline approaches, demand is expected to surge, potentially limiting availability. For those considering an EV, now is the time to act—before the rebate disappears and prices effectively rise overnight.

To provide the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturers and other authoritative sources, including Edmunds, Car and Driver, and the EPA. Models are listed from the highest starting price to the lowest.

2025 Ford F-150 Lightning

Base Price: $54,780

Base Trim Engine: EV
Base Trim Transmission: Automatic
Base Trim Drivetrain: All-Wheel Drive
Base Trim Horsepower: 452 HP
Base Trim Torque: 775 lb.-ft.

Blending the rugged utility of America’s best-selling truck with electric performance, the Ford F-150 Lightning is an electric workhorse. Starting at $54,780, it gets the job done with up to 240 miles of range and a 7,700-pound towing capacity.

The Lightning features a spacious SuperCrew cab and a large front trunk (frunk) for added storage. Features like a large touchscreen, over-the-air updates, and ProPower provide convenience and functionality. Above all, it’s a capable rig that delivers power and practicality in an eco-friendly package.

Strengths	Weaknesses
Impressive acceleration and performance Can serve as a power source for tools and appliances Quiet operation compared to a gas-powered F-150	Towing seriously limits range Limited payload capacity compared to gas-powered trucks Hefty weight

2025 Cadillac Optiq

Base Price: $53,495

Base Trim Engine: Electric
Base Trim Transmission: Single-speed automatic
Base Trim Drivetrain: All-Wheel Drive
Base Trim Horsepower: 300 hp
Base Trim Torque: 354 lb-ft

As one of many EVs from Cadillac, the 2025 Cadillac Optiq brings refinement and performance to the EV space at a surprisingly low price of $52,895. Featuring dual-motor all-wheel drive that delivers 300 horsepower and 354 pound-feet of torque, it has an EPA-estimated range of 302 miles. Plus, it includes Cadillac’s Super Cruise hands-free driving system, over-the-air updates, and Google Built-In for seamless connectivity.

It’s not an old man’s Cadillac, or a high-performance Cadillac built to take on the Nürburgring. Instead, it’s a Cadillac for younger people and stacks up very well against other vehicles like the Hyundai Ioniq N or Tesla Model Y.

Strengths	Weaknesses
Spacious, quiet interior Balanced ride and handling Available Super Cruise	Apple CarPlay and Android Auto is not available Awkward regenerative braking Busy touchscreen

2025 Honda Prologue

Base Price: $47,400

Fuel Economy: 107/91/99 MPGe city/highway/combined (FWD)
Make: Honda
Model: Prologue
Segment: Midsize SUV

Infotainment & Features

7 /10

Honda is no stranger to hybrids or alternative fuel vehicles, but the Prologue is its first electric SUV. Starting at $47,400, it has a range of up to 308 miles, making it well-suited for daily driving and weekend adventures.

Inside, passengers are greeted by a spacious cabin and features like wireless Apple CarPlay/Android Auto and Google Built-In. It also seats five people comfortably and provides up to 54.5 cubic feet of cargo space. Honda may have been late to the electric vehicle party, but it is quickly making up ground thanks to the Prologue’s inherent goodness.

Strengths	Weaknesses
Spacious interior for passengers Smooth, quiet ride Impressive list of safety features	Limited cargo space Thick A-pillars impede visibility More expensive than other electric SUVs

2025 Tesla Model Y

Base Price: $44,990

Base Trim Transmission: Automatic
Base Trim Drivetrain: All-Wheel Drive
Base Trim Horsepower: 425 HP
Base Trim Torque: 475 lb.-ft.
Fuel Economy: 120 MPGe Combined

Speaking of the Tesla Model Y, the 2025 model remains a top-selling electric SUV, thanks to its blend of performance, range, and technology. Starting at $47,990, the base model offers up to 280 miles, seats five people, and provides up to 76.2 cubic feet of cargo space with the rear seats folded.

It nails the sweet spot between performance and practicality while offering an impressive suite of safety features. Thanks to its strong resale value, low operating costs, and futuristic appeal, the Model Y remains a benchmark in the electric crossover segment.

Strengths	Weaknesses
Impressive range and performance Access to Supercharger network Spacious passenger accommodations	Over-reliance on the touchscreen for basic functions Limited rear visibility Somewhat harsh ride

2025 Chevrolet Blazer EV

Base Price: $44,600

Base Trim Engine: EV
Base Trim Transmission: Automatic
Base Trim Drivetrain: Front-Wheel Drive
Base Trim Horsepower: 288 HP
Base Trim Torque: 333 lb.-ft.

For the past five years, rumors have circulated about a Chevrolet Camaro crossover or Corvette SUV. To the muscle-car faithful, that concept is about as appealing as passing a kidney stone. However, the idea may have given rise to the Chevrolet Blazer EV, which is a very good thing.

The base version gives people 288 horsepower and 283 miles of range in a sharp, well-executed vehicle that seats five and offers plenty of space. An SS version offers impressive performance on par with Chevy’s evergreen sports car. Think of it as more of a modern-day Chevelle than a Camaro, which carries the muscle car torch despite being a very different vehicle.

Strengths	Weaknesses
Spacious and comfortable interior Impressive range and performance Access to Tesla Supercharger Network	Glitchy infotainment system Lacks Apple CarPlay and Android Auto Vague steering feel

2025 Kia EV6

Base Price: $42,900

Base Trim Engine: Electric
Base Trim Transmission: Automatic
Base Trim Drivetrain: Other
Base Trim Horsepower: 167 HP
Base Trim Torque: 258 lb.-ft.

Buyers looking for an EV that does it all should check out the Kia EV6. In addition to being a highly capable and practical vehicle, it offers impressive performance and range with DC fast charging capabilities.

Inside, the spacious interior offers room for five with plenty of cargo room. The dashboard uses dual 12.3-inch curved displays to provide comprehensive information for the driver and an intuitive infotainment system. It’s an EV that can be your only vehicle–capable of slogging through the weekday commute and hunting Ferraris on weekends.

Strengths	Weaknesses
Sports car-like performance Impressive range Fast charging performance	Limited rear visibility Firm ride quality Smaller frunk than some of its rivals

2025 Hyundai Ioniq 5

Base Price: $42,600

Base Trim Engine: EV
Base Trim Transmission: Automatic
Base Trim Drivetrain: Rear-Wheel Drive
Base Trim Horsepower: 168 HP
Base Trim Torque: 258 lb.-ft.

Infotainment & Features

9 /10

As the sister to the Kia EV6, the Hyundai Ioniq 5 goes its own way in terms of style but is no less capable or appealing. Dimensions and performance are very similar to the Kia, but where the EV6 has a sleek, modern look, the Ioniq 5 is boxy and retro-futuristic.

Also like the Kia, the Ioniq 5 is capable of winning over enthusiasts with motor oil in their veins. The Ioniq 5 N is an absolute blast to drive, but any trim level will satisfy thanks to the Ioniq 5’s roomy and flexible interior, user-friendly controls, and modern tech, which includes the Hyundai SmartSense safety suite.

Strengths	Weaknesses
Fast charging performance Spacious, comfortable interior Fun to drive	Limited rear visibility Firm ride quality Styling isn’t for everyone

2025 Tesla Model 3

Base Price: $42,490

Base Trim Engine: Electric
Base Trim Transmission: Automatic
Base Trim Drivetrain: Rear-Wheel Drive
Base Trim Horsepower: 295 HP @7000 RPM
Base Trim Torque: 309.3 lb.-ft.

As the benchmark in the electric sedan market, the Tesla Model 3 offers a sleek design and impressive performance. Starting at $42,490, it comes well-equipped and includes access to Tesla’s extensive Supercharger network.

The minimalist interior is dominated by a 15-inch touchscreen that controls nearly all vehicle functions and is quiet and comfortable, with seating for five. Safety is top-tier, with high crash-test ratings and advanced driver-assist features. Recently refreshed, it remains one of the top EVs in the market and is capable of racking up some impressive mileage.

Strengths	Weaknesses
Sports sedan performance Impressive range Access to the Supercharger network	Limited truck space and frunk Even basic functions require a touchscreen Harsh ride quality

2025 Chevrolet Equinox EV

Base Price: $33,600

Base Trim Engine: Electric
Base Trim Transmission: Automatic
Base Trim Drivetrain: Front-Wheel Drive
Base Trim Horsepower: 213 HP
Base Trim Torque: 236 lb.-ft.

One of the most affordable EVs on the market is the Chevrolet Equinox EV. Starting at just $33,600, it offers up to 307 miles of range and features a clean, modern design with a tech-rich interior.

Inside, the cabin is spacious, with generous rear legroom and up to 57.2 cubic feet of cargo space. It also supports DC fast charging, adding 70 miles in about 10 minutes. The Equinox EV blends performance, price, and practicality seamlessly, making it a no-brainer for people looking for an inexpensive but well-equipped vehicle that can do it all.

Strengths	Weaknesses
Affordable low price Long range Loads of standard features	Lack of Apple CarPlay and Android Auto Lackluster performance compared to other EVs Limited storage space