The full-electric Polestar 3 is offering the richest cash rebate in the auto industry this month.

Getty Images for Polestar

It’s been well-documented that electric vehicle sales have taken a nose dive once the one-time $7,500 federal tax credit/rebate on eligible models and corresponding discounts granted to lessees via a loophole expired last year. As a result, automakers are granting some stiff incentives to help their dealers winnow down their excess EV inventories, with the average value up to 14.6% of a given model’s average transaction price (around $8,000) according to Cox Automotive.

But that’s nothing compared to the $10,000-plus cash offers some full-electric models are carrying this month, which in some cases include a general rebate plus added discounts granted to present and conquest-brand owners and other assorted deals.

Hands-down the model to beat with regard to cash-back deals right now is the 2025 Polestar 3, which is being offered with a whopping $18,000 incentive that swells to an uncanny $22,250 with additional offers for current and conquest owners and eligible Costco members added.

And these deals are on top of the savings an EV owner can realize by running on electricity rather than gasoline. According to the Environmental Protection Agency, driving a 2026 Nissan Leaf that can run for as much as 303 miles on a charge and gets the equivalent of 121 mpg can cost an owner as much as $7,500 less in energy costs over a five-year period than the average new vehicle, based on current average gas prices and electricity rates.

In addition, some of the EVs cited here are being offered with low-to 0.0% financing. Many come with subsidized lease deals as well.

Also of note, automakers often grant what’s been called “secret rebates” to their dealerships to provide an additional buffer with which to strike a better deal than they might otherwise be able. They’re so named because, unlike the rebates listed below, they are not publicly posted; the dealer is free to decide how much of whatever amount is involved to offer buyers, so it’s essential to be a hard-nosed haggler when shopping for an EV these days.

The 11 EVs carrying five-figure cash rebates this month are listed below, with also a “second best” tier of models offering $7,000-$8,000 deductions.

But be aware that automakers’ incentives often vary to some degree from one part of the country to another to address specific supply and demand issues. Cash back deals are often limited to in-stock models. Other rebates may be available to recent graduates, members of the military, first responders and those belonging to certain groups. Be sure to check a brand’s website or contact a nearby dealership to verify what’s being offered locally.