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How to Buy an Electric Vehicle in December

How to · Auto

How to Buy an Electric Vehicle in December

December closeouts and tax credits make late end-of-year the smartest time to buy an EV without overpaying.

VoAtlas editorial Updated · 3 min read
Typical cost $35,000 before anything else
Across the 0% window $1,944.44/mo 18 months, no interest

How we got that: $35,000 spread evenly across the 18-month introductory window on the Citi Simplicity® Credit Card. Checked · at the bank Carry a balance past the window and the standard APR applies to what is left.

Electric cars cost less to run than gas vehicles, but the sticker price can still sting. Late December is usually the best time to shop because dealers are desperate to clear out prior-model inventory to hit annual quotas before new models arrive.

A typical new EV runs about $35,000 before incentives. You do not need to drop that entire amount into a high-interest auto loan if you plan your deposit and financing separately.

An intro window is a strict deadline, not free money. Once the 18 months on your Citi Simplicity® Credit Card end, any remaining balance gets hit with the regular variable APR, so set up automatic payments to clear your card balance on time.

The steps

  1. 01

    Time your purchase for late December

    Shop during the last two weeks of the year when dealers need to clear inventory. Combine year-end closeout discounts with federal tax credits to lower the total sticker price before you talk about monthly payments.

  2. 02

    Lock in the cash price first

    Separate negotiation from how you plan to pay. Settle on the out-of-the-door price with the salesperson before you mention trade-ins, down payments, or card usage.

  3. 03

    Put your deposit on a 0% intro card

    Most dealers let you put a few thousand dollars of the purchase price on a card. Using the Citi Simplicity® Credit Card gives you 0% for 18 months on purchases and balance transfers from date of account opening. If you were to put a full $35,000 on it, that comes out to $1,944.44 per month across the 18-month window, but using it just for the deposit gives you breathing room without adding interest.

  4. 04

    Line up outside financing for the rest

    Get pre-approved for a standard auto loan through a local credit union before visiting the lot. Dealer financing often comes with marked-up interest rates, so having your own loan ready keeps them honest.

  5. 05

    Budget for home charging equipment

    Factor in the cost of a home charging setup so you are not relying on pricey public chargers. Setting aside $500 to $1,200 for a Level 2 home charger and installation will save you money every week.

  6. 06

    Check the card terms before you commit

    Every figure we publish for the Citi Simplicity® Credit Card carries the date a person verified it against Citi and a link to where they checked. Intro windows and APRs change without notice, so confirm the current terms before applying.

    See Citi Simplicity® Credit Card terms →

Common questions

Can I buy a whole car on a credit card?

Most dealerships cap credit card payments around $2,000 to $5,000 to avoid card processing fees. You can usually put your deposit or down payment on a card, but you will need a traditional loan or check for the rest.

How do EV tax credits work at the dealership?

You can transfer eligible federal tax credits directly to the dealer at the point of sale. That lowers your purchase price right at the register instead of making you wait until you file your taxes.

Is December really the cheapest month to buy an EV?

Yes. December combines manufacturer year-end sales, dealer quota pushes, and outgoing model-year clearances, giving you maximum leverage on price.

What happens if I do not pay off the card balance in 18 months?

You will start paying the standard ongoing interest rate on whatever balance remains. The regular rate kicks in immediately after the intro period ends, making your remaining debt much more expensive.