American car buyers shopping for an electric vehicle this month are facing a split market: 2026 models are running about $2,000 higher on average compared to last year’s typical $400 model-year increase. Luxury imports are hit hardest, though even domestically assembled vehicles are affected because no US-made car uses 100 percent domestic parts.
To keep showroom traffic moving, manufacturers have responded with some of the most aggressive financing and cash-back programs seen since the pandemic inventory crunch.
Zero-percent loans and cash stacked together
The best EV financing offers in September 2026 feature 0% APR for 60 months plus the potential for up to $19,000 in rebates. As of September 2026, one tracker found 69 active 0% APR financing offers across 32 brands. Despite the end of important federal tax credits last fall, automakers are still offering financing deals on electric cars.
The Hyundai Ioniq 9’s $7,000 cash-back offer, which carries over from last month, more than makes up for last year’s loss of the $7,500 federal electric car tax credit. The Ioniq 9 continues to have the brand’s best financing deal at 0% APR for 72 months and no payments for 90 days, though it cannot be stacked with the $7,000 Retail Bonus Cash offer. Leases on the Ioniq 9 start from $399 per month for 36 months with $4,999 due at signing.
The 2026 Hyundai Ioniq 5 now offers a 0% financing deal for 60 months in many parts of the country. It is a shorter window than last month, though buyers should confirm current terms with their local dealer, as offers vary by region.
The 2026 Kia EV6 received a nearly $6,000 price cut on some trims, and the 2026 Hyundai Ioniq 5 also got price cuts, enabling it to start at just $35,000.
On the luxury side, according to Polestar’s official US offers page, buyers of a 2026 Polestar 4 who finance through Polestar Financial Services can get 0% APR for 60 months and an $18,000 Polestar Clean Vehicle Incentive applied toward MSRP. With all stackable offers combined, buyers can potentially get $19,000 off MSRP. Cash buyers can receive a $25,000 Clean Vehicle Incentive off MSRP. Offers are valid through September 30, 2026.
Tariffs and the loss of federal credits squeeze buyers from both sides
The incentive surge comes from two compounding pressures. The federal EV tax credit of up to $7,500 on electric cars and plug-in hybrids expired on Sept. 30, 2025. The changes are due to a budget reconciliation bill, also known as the One Big Beautiful Bill Act. With the purchase credit gone, some manufacturers have leaned harder into lease incentives and cash-back offers to keep EVs moving off lots.
On the cost side, Section 232 tariffs on steel, aluminum and automobiles remain fully in effect, leaving automakers facing billions in additional costs depending on the origin of imported vehicles and parts. GM, Ford and Stellantis absorbed substantial tariff costs in Q2 2026, and automakers are now split on whether to raise sticker prices or lean on incentives.
Those costs have fed directly into sticker prices. Destination fees on 2026 models reached new highs on popular full-size trucks and SUVs, a trend that matters to shoppers weighing the total cost of a deal, a topic also relevant to buyers tracking feature availability on new models this year.
Incentive math gets complicated for shoppers
APR incentives usually cannot be combined with rebates, so buyers need to weigh their options carefully. When a manufacturer quietly pulls a cash incentive that existed months ago, that is often a tariff-related margin recovery not reported as a price increase.
There has been a notable shift, with Hyundai’s incentives on the smaller Ioniq 5 having gotten progressively worse in recent months while Ioniq 9 deals had remained stable. Now, the bonus cash discount on the Ioniq 9 is $3,000 less than last month.
State programs are partially filling the void left by the expired federal credit. California and several other states maintain their own EV rebate and incentive programs; buyers are advised to check current eligibility directly with their state energy or DMV agency before purchasing.
Those savings, combined with manufacturer cash and zero-percent loans, mean a patient and well-researched buyer can still assemble a meaningful discount, though the window may be narrowing. A vehicle discounted aggressively in recent months may not carry the same deals next quarter.
Buyers who also watch the record hybrid market share may find that gas-electric alternatives carry fewer incentive trade-offs heading into the fourth quarter.
