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36m ago

Ford and GM Extend Access to $7,500 EV Credit With Lease Programs After Federal Cutoff

Lease-based offers exploit IRS timing rules that let pre‑deadline contracts secure credits.

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General Motors And Ford Found A Way To Keep The EV Lease Credit Alive: Sales
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Salesman Tim Hogan shows the under the hood of a Kia Niro EV, a fully electric vehicle, at the Quirk Kia dealership in Manchester, New Hampshire, July 18, 2025.

Overview

  • Federal EV purchase credits expire Sept. 30 under the One Big Beautiful Bill Act signed by President Donald Trump.
  • Reuters reported that Ford and GM finance units are making dealer down payments to enable leases that capture the $7,500 benefit for a limited period.
  • GM said it worked with dealers on an extended lease offer, and Ford confirmed competitive EV lease payments through Ford Credit until December 31.
  • The IRS in August said buyers with a written binding contract and payment by the deadline can still claim credits even if delivery occurs later.
  • Dealers reported a sales rush before the cutoff, with Rho Motion and Cox Automotive data showing notable gains, while CRS projects a 25%–30% EV sales decline after the credits lapse.