1. Short title This Act may be cited as the Electric Credit Access Ready at Sale Act of 2018 or the Electric CARS Act of 2018 . 2. Extension and modification of new qualified plug-in electric drive motor vehicles credit (a) Extension (1) In general Section 30D(e) of such Code is amended to read as follows: (e) Termination This section shall not apply to any new qualified plug-in electric drive motor vehicle placed in service after December 31, 2028. . (2) 2- and 3-wheeled Plug-in Electric Vehicles Section 30D(g)(3)(E) is amended by striking or at the end of clause (i), by redesignating clause (ii) as clause (iii), and by inserting after clause (i) the following new clause: (ii) after December 31, 2017, and before January 1, 2029, or . (b) Credit may be assigned to financing entity Section 30D(f) of such Code is amended by adding at the end the following new paragraph: (8) Credit may be assigned to financing entity (A) In general The credit which would (but for this paragraph) be allowed with respect to a vehicle under subsection (a) for any taxable year to any person (hereafter in this paragraph referred to as the initial taxpayer )— (i) if assigned by the initial taxpayer to the person who financed the purchase (or a lease of at least 2 years) of such vehicle by the initial taxpayer, may be taken into account by such person, and (ii) shall not be taken into account by the initial taxpayer. Any person to whom such credit is assigned under clause (i) shall be treated for purposes of this title as the taxpayer that placed such vehicle in service. (B) Disclosure requirement Subparagraph (A) shall not apply with respect to any vehicle unless the person to whom the credit is assigned clearly discloses in writing to the initial taxpayer the amount of the credit allowable under subsection (a) with respect to such vehicle (determined without regard to subsection (c)). . (c) Effective dates (1) The amendments made by subsection (a) shall apply to vehicles acquired after December 31, 2017. (2) The amendment made by