Electric vehicles are carrying some of the largest discounts in the industry this October, as the loss of the federal tax credit for new EVs last year and cooling demand push dealers to cut prices. Based on CarsDirect findings reported by Autoblog, here are five of the biggest deals available right now — but note that several expire November 2, 2026, so timing matters.
The headline figure is up to $37,500 off on a high-end performance model in Autoblog’s roundup, a reminder that the deepest discounts sit on the most expensive cars, not the cheapest. For family buyers, the more relevant deals are on three-row SUVs. The 2026 Hyundai Ioniq 9 carries a $7,000 rebate on purchases, more than 10% off the SE trim that starts at $62,765 and includes a 303-horsepower dual-motor powertrain. At just over $55,000 after the rebate, it is a lot of SUV for the money, according to Autoblog.
The 2026 Kia EV9, which shares much with the Ioniq 9, is available with up to $10,000 in customer cash. Autoblog notes the best EV9 deal may actually be this month’s 0% APR financing offer for 60 months, which includes $5,000 in bonus cash. Both EV9 and Ioniq 9 offers run until November 2, 2026.
Budget EVs with real discounts too
Smaller EVs are discounted through a different route. Ride and Drive Clean’s October programme, running through October 31, offers total potential savings of up to $8,500 on the 2027 Hyundai Ioniq 5 SE RWD and SEL RWD (starting MSRP $35,250, up to 318 miles of range), up to $6,500 on the 2026 Toyota bZ (starting MSRP $34,980, up to 314 miles), and up to $12,250 on the 2026 Volvo EX30 AWD (starting MSRP $46,345, up to 261 miles).
Those figures combine dealer discounts, rebates, and lease or finance incentives, so the cash price and the lease price will differ. Always ask for the discount broken down line by line: a $12,250 headline that requires a lease, a loyalty rebate, and a Costco membership is not the same as $12,250 off for every buyer.
Should you buy now?
If you want a three-row EV, the November 2 expiry creates a real deadline. If you want a budget EV, the October 31 programme expiry does the same. But do not let a deadline force a bad loan: a 0% APR offer is only valuable if the term and the total price beat a cash discount, and EV insurance and home-charging installation costs should be in the budget before you sign. See also our hybrid sedan ranking.
