Now Is the Time to Buy Your Tesla Because Its Full Tax Credit Expires Oct. 15

If your weekend includes shopping for a Tesla Inc. (TSLA) vehicle, make sure to buy the car before Monday, Oct. 15.

That's the day the $7,500 tax credit purchasers have enjoyed will expire as the company surpasses the threshold of 200,000 U.S. electric vehicle deliveries.

The company is letting customers know that "all orders placed by October 15, 2018 will be delivered by the end of the year" and will be eligible for the full tax credit on its website. 

The company first confirmed that it hit the federal tax credit threshold in the first week of the third quarter. 

Tesla buyers will still be able to see a smaller tax benefit after Oct. 15. Buyers will get a $3,750 tax benefit over the next few months, per Internal Revenue Service tax rules. 

The tax credit has definitely benefited the electric vehicle maker as the company sold more vehicles than rival Mercedes Benz in the third quarter, according to Altherton Research.

Tesla announced that it delivered 69,925 vehicles in the quarter, topping Daimler's 66,542 vehicles, and coming up just shy of BMW by 2,000 vehicles. BMW sold 71,679 vehicles in the period.

Tesla shares were rising 2% on Friday. 

More from Investing

Cannabis Stocks, Led by Tilray and IGC, Get Taken to the Woodshed

Cannabis Stocks, Led by Tilray and IGC, Get Taken to the Woodshed

Fiat Chrysler Leans on Waymo as It Focuses on Debt

Fiat Chrysler Leans on Waymo as It Focuses on Debt

The Technical Rug Has Been Pulled Out of Mohawk Industries

The Technical Rug Has Been Pulled Out of Mohawk Industries

Will Audi's Electric Car Delay Benefit Tesla?

Will Audi's Electric Car Delay Benefit Tesla?

Terex: It's Hard to Build a Case for Building-Related Stocks

Terex: It's Hard to Build a Case for Building-Related Stocks