Hi, the fed tax credit for EV's of up to $7500 looks very tempting. But when I went to the IRS site and read the fine print, I found a sentence like "...the vehicle is not considered acquired until the title is passed to the taxpayer under state law." My credit union tells me that if I take out a loan to buy the car, I don't get the title until the loan is paid off. So my interpretation of all this is that to apply for the credit I have to have the title in-hand, therefore to get the credit next tax time, I have to pay cash for the car so I immediately get the title, or I have to wait until the loan is paid off to apply for the credit, at which time the incentive will likely be long gone. I hope someone can tell me my interpretation(s) are incorrect!! Thanks.