New Jersey Is Doubling EV Sales Tax — How to Save $7,500 (or More) Before July 1
New Jersey is about to double the sales tax on electric vehicles starting July 1, 2025—making now the smartest time to take delivery. Add in the risk of losing the $7,500 federal EV tax credit, and waiting could cost you thousands.
EV Drivers: Don’t Let the Government Jack Up Your Bill
Save Thousands in State and Federal Incentives Before July 1, 2025
If you’re eyeing an electric vehicle this year, you’re driving straight into a deadline that could cost you thousands — unless you act before June 30.
Let’s break it down, Dad-style:
New Jersey is doubling the sales tax on EVs starting July 1, 2025.
And the federal $7,500 EV tax credit might vanish by year’s end.
You’ve got one shot to skip the markup and pocket the incentives — and Vantage Auto Group is here to make it smooth.
What’s Changing in New Jersey?
As of July 1, 2025, New Jersey’s sales tax on electric vehicles is jumping from 3.3125% to 6.625%.
That means:
- On a $45,000 EV, you’ll pay $1,492 more in tax if you miss the June 30 delivery deadline.
- This applies to all EVs, including favorites like the BMW i4, Hyundai Ioniq 5, Chevrolet Equinox EV, and Hummer EV.
If you take delivery by June 30, you lock in the lower tax rate and stay eligible for current promotions like low APR and flexible lease pricing.
That’s a win in any language — but especially in Dad-speak.
What’s Happening with the $7,500 Federal EV Tax Credit?
Meanwhile, the federal EV tax credit (up to $7,500) is on shaky ground in Washington.
A new bill moving through Congress would:
- Phase out the new EV credit after 2025
- Eliminate the $4,000 used EV credit entirely
- Reimpose strict limits based on how many EVs a brand has sold
- Add a $250/year EV tax fee
Translation? That credit might disappear sooner than you think. And waiting could cost you double: no federal credit and higher state tax.
The Smart Move? Take Delivery Before June 30
Vantage Auto Group: Your Car-Smart Dad Handles It
Let’s be honest — the average dealership experience? A circus.
At Vantage, we skip the clown act:
- We do the homework — comparing brands, deals, and incentives for you.
- We handle the paperwork — from trade-ins to financing.
- We deliver to your driveway — anywhere in New Jersey or the U.S.
Whether you're into the all-electric muscle of the Hummer EV, the sleek BMW i4, the family-ready Equinox EV, or the tech-smart Hyundai Ioniq 5, we’ve got access to over 350 dealerships and know how to get the best deal — fast, easy, and tax-smart.
FAQs from Drivers Like You
How do I claim the $7,500 EV tax credit?
- Buy a qualifying EV before the credit expires
- Income below $150K (single) or $300K (joint)
- Vehicle must meet final assembly and battery sourcing rules
- Ask us — we’ll walk you through it
Does the NJ tax change affect used EVs too?
Nope. The July 1 sales tax increase only applies to new electric vehicles.
What if I want to lease instead of buy?
Leasing is a smart play — and yes, many lenders pass the federal tax credit through as lower monthly payments.
Don’t Let This Deadline Pass You By
Waiting until July means paying more for the same vehicle — plain and simple. The Car-Smart Dad in us is telling you: Don’t overpay because of timing.
Let us handle the fine print, the taxes, the incentives — and even delivery.
All you have to do is choose your EV.
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Keeping It Simple and Transparent: The Vantage Way
Ever wonder how we’re able to shop hundreds of deals and still save you thousands? It’s not a secret, and it’s definitely not magic tricks at the finance desk. Think of us as your “Car-Smart Dad”—we break down the math, ditch the games, and make sure everyone’s interests are on the same page (yours).
If you run two SUVs or two dozen workhorses, we’re the partner busy teams trust to save time, money, and headaches—so your people keep moving and your P&L smiles.
Buying a new car has always been about timing, your budget, and specific needs, but there’s another factor that’s harder to see when you’re looking at prices—auto tariffs. Auto tariffs can change what you pay, which models are within reach, and if a used car holds its value.
Let’s break things down the way your car-smart dad would, so you can see how tariffs might affect your decision.
Thinking of ending your lease early? Here’s the short version:
- Yes, you can break your lease—but there are costs
- The best options: lease transfer, buyout and resale, or trade-in
- Avoid voluntary termination unless it’s your last resort
- Vantage helps you calculate every path and avoid surprise penalties
Trying to choose between leasing and buying a car? It comes down to how you drive, how long you’ll keep it, and what kind of deal fits your life. Here’s the short version:
If you’re stuck in a car lease that no longer fits your life—or looking to score a luxury ride at a deep discount—lease transfers are one of the smartest financial moves most drivers don’t even know they have.
Not ready to commit to a full 36-month lease? We get it. Life moves fast—and sometimes, you just need a set of wheels for the in-between.
If you’ve ever tried to squeeze a stroller, three duffel bags, a set of golf clubs, and your 9-year-old’s soccer net into the back of your SUV—only to end up slamming the hatch and praying it closes—you already know: cargo space matters.
New Jersey Is Doubling EV Sales Tax — How to Save $7,500 (or More) Before July 1
New Jersey is about to double the sales tax on electric vehicles starting July 1, 2025—making now the smartest time to take delivery. Add in the risk of losing the $7,500 federal EV tax credit, and waiting could cost you thousands.
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