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If You're Thinking About Buying an EV, Trump Made Now the Time To Do It
If you've been on the fence about switching to an electric vehicle (EV), now might be the perfect time to make the leap. Tax credits for buying an EV were supposed to last through 2032, per CNBC, but President Donald Trump's 'One Big Beautiful Bill' killed the tax breaks for new and used EVs. While the bill axed the credit, there's still time to take advantage before EVs become more costly. With the clean vehicle credit, qualified buyers can receive a $7,500 credit for new EV or a $4,000 credit for a used EV until Sept. 30 2025. The credit can reduce the cost of the vehicle by thousands; however, there are several restrictions to take note of. Read Next: Check Out: Here's what to know about the credit and why it might be the smartest time to buy. Clean Vehicle Credit Guidelines Not all buyers can cash in on the credit. According to the IRS, income ceilings stop at $150,000 for individual filers. That rises to $225,000 for heads of household and $300,000 for joint filers. According to Rob Dillan, automotive expert and founder of EVhype, there are price caps for vehicles, too — $55,000 for sedans and $80,000 for vans, SUVs and trucks. 'Fifty percent or more of a vehicle's battery must also be made with American parts, and the vehicle must be constructed with materials from the United States or countries the United States has trade agreements with,' he explained. 'These criteria will also rule out some EV models, so potential buyers will need to verify eligibility before purchasing.' In addition, the EV must weigh less than 14,000 pounds in gross vehicle weight, have a battery storage capacity of 7 kilowatt-hours or more, go through final production in North America, and be produced by a qualified manufacturer (excluding fuel-cell vehicles), per TurboTax. Learn More: Now Is the Time To Buy If you qualify, the credit could significantly lower the cost of buying an EV. 'The credit is going to make a big difference in cost, since the average transaction price of a new EV in 2025 is projected to be $56,910,' Dillan said. 'The federal tax credit is also likely to disappear in September based on timing alone, so now certainly seems to be the time for potential owners to move if they want to cash in on this financial bonus.' EV Considerations EV sales are up 11.4% year over year, according to Kelley Blue Book, with new models from Acura, Audi, Chevrolet, Honda and Porsche helping drive up sales. But before deciding whether an EV is the way to go, there are many things to consider. 'Depreciation is a big factor to take note of,' Dillan said. 'Some electric vehicle models hold only 49% of their value after two years, compared with 83% for gasoline-powered cars.' Reasons for the drop in value include battery life, limited charging stations, quickly evolving tech that becomes obsolete in older models and brand reputation, per Diminished Value of Georgia. With that in mind, it reported that the Tesla Model 3 and Hyundai Kona Electric are proving to have a higher resale value than previous EV models. Owning an EV will save you on gas, but Dillan said without the tax credit savings, 'the massive savings on maintenance and fuel bills are likely not enough to recoup the higher purchase price and possible depreciation hit of an electric vehicle.' Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates Here's the Minimum Salary Required To Be Considered Upper Class in 2025 This article originally appeared on If You're Thinking About Buying an EV, Trump Made Now the Time To Do It
Yahoo
25 minutes ago
- Yahoo
Keurig Dr Pepper (KDP) Reaffirms 2025 Earnings Guidance For Mid-Single-Digit Sales Growth
Keurig Dr Pepper reaffirmed its earnings guidance for fiscal year 2025, projecting mid-single-digit net sales growth. This affirmation suggests confidence in achieving steady demand for its products, aligning with market expectations in the consumer beverage sector. Over the past week, KDP's share price remained relatively flat, moving less than 1%, while the broader market rose 1.7%. The company's guidance likely added weight to the broader market movements, although it did not significantly affect KDP's share price. The company's stability and projected growth continue to support investor confidence amid a rising market environment. Every company has risks, and we've spotted 3 warning signs for Keurig Dr Pepper (of which 1 is concerning!) you should know about. We've found 17 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. The recent affirmation of Keurig Dr Pepper's earnings guidance for fiscal year 2025 could bolster investor confidence in line with market expectations within the consumer beverage sector. This guidance suggests potential stability in revenue and earnings forecasts, which might mitigate concerns over pressures in the coffee segment. However, the company's current earnings and performance metrics reveal a complex picture. While analysts foresee growth, ongoing challenges in coffee sales and cost management remain factors to watch. Over the past five years, Keurig Dr Pepper's total returns, including dividends, have delivered a 20.55% increase. When evaluating performance relative to the recent 1-year market returns of 17.7%, the company's results appear less favorable. Despite these returns, the company's share price has underperformed against the broader US market both in one-year and potentially longer-term contexts. As of now, the share price at US$33.50 is below the consensus price target of US$38.35, representing a potential upside. The reaffirmed guidance could contribute positively towards reaching this target, assuming the projected revenue growth from iconic and new beverage brands, alongside energy platform integration, is realized. The reaffirmation provides an insight into the company's potential revenue resilience, but translating this into heightened earnings performance will depend on effective cost management and tackling challenges in the coffee segment. The valuation report we've compiled suggests that Keurig Dr Pepper's current price could be inflated. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include KDP. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
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Federal government giving $3.2B over 3 years to settlement service organizations
The federal government is earmarking $3.2 billion over the next three years for hundreds of settlement service organizations across the country. Immigration, Refugees and Citizenship Canada says the funding will reduce labour shortages and help newcomers enter the job market. Non-profit MOSAIC says newcomers face a number of challenges.
