tanbowen
Returning Member

Can I claim the EV federal tax credit if I financed it thru the dealership?

Hio all, I'm planning to finance/loan a BMW 530e thru my local dealership. I checked the IRS and I'm sure there is $5800 federal tax credit available for the 530e. But can I claim it if I finance the vehicle? Or I must pay it in full in order to claim the tax credit? Appreciate your answers!