The obvious price is often not the real price when it’s time to buy a battery-electric vehicle (BEV.) The Manufacturers Suggested Retail Price (MSRP) shown on the Monroney sticker on the window of that new BEV on the showroom floor does not represent your true gross price once you factor in state and Federal involvement in the net price – that is, your price after all credits and deductions.
Like most financial transactions, buying a BEV is more complicated than it seems like it should be. That’s why we’ve put together this short primer that answers the question: How does the Electric Car Tax Credit work?