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1h ago

EV Tax Credit Ends Today as Ford and GM Move To Preserve $7,500 on Leases

Dealer financing maneuvers let lessors factor in the subsidy after the cutoff.

These U.S. States Still Offer Rebates For EVs And PHEVs: Buying Tips
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Jim Farley, CEO of Ford Motor Company, poses with the new all-electric F-150 Lightning performance truck at its reveal at Ford World Headquarters on May 19, 2021 in Dearborn, Michigan. The truck will be built at the all-new Ford Rouge Electric Vehicle Center in Dearborn starting in the Spring of 2022.

Overview

  • The One Big Beautiful Bill Act terminated the federal incentive effective Sept. 30, with IRS guidance allowing buyers who signed written binding contracts and paid by the deadline to claim it upon later delivery.
  • Ford confirmed discounted retail leases via Ford Credit through Dec. 31, 2025, while GM said participating dealers will offer similar deals while supplies last.
  • The programs work by the automakers’ lending units making down payments on dealer EV inventory, qualifying for the $7,500 credit and passing the value through lease rates, according to documents cited by Reuters and confirmed by the companies.
  • Reuters reported the plans followed discussions with the IRS, and opponents urged scrutiny, with one critic calling for the agency to deny credits and for an investigation.
  • EV demand surged ahead of the deadline, with August sales reaching a 9.9% market share (about 146,332 units), while Congressional Research Service estimates suggest sales could drop 25%–30% once incentives fully lapse; Lucid said it will honor $7,500 on Gravity leases ordered by the deadline through year-end.