It might be better to wait a few months to buy that EV you've been eyeing — but there's a catch

• The rules for how electric car buyers receive federal tax credits have changed.
• The new guidelines benefit buyers who are taking the plunge to plug-in.
• But there are caveats that EV shoppers should be aware of, experts say.

It might be better to wait a few months to buy that EV you've been eyeing — but that advice comes with a caveat.

Let's start with the good news: Starting January 2024, new and used federal electric vehicle credits can be applied as a point of sale discount on a car's purchase price or as a rebate.

How does that differ from what's been available this year?

Throughout 2023, car shoppers have been able to take advantage of revised EV tax credits incentivizing them to buy plug-in.