Leasing a new electric vehicle from Ford or GM? You can still save up to $7,500, even after the federal EV tax credit expires on September 30. The two automakers have set up programs to keep lease deals competitive, aiming to sustain EV momentum as incentives shift.
Here’s how the savings continue. Ford and GM will use their captive finance divisions to purchase dealer inventory with down payments, allowing those lending arms to qualify for the existing $7,500 federal incentive. Dealers can then write leases as usual, with the savings already baked into the monthly payment. In plain terms, the credit gets applied behind the scenes and passed on to you as a discount on the lease.
Ford says these lease savings will be available through Ford Credit until the end of 2025, giving shoppers a longer window to lock in lower payments on models like the Mustang Mach-E. GM is implementing a similar approach, helping customers take advantage of the rebate for months beyond the September deadline.
The plan was developed after consultations with the IRS. The agency had also clarified earlier that drivers could remain eligible for the incentive by making a commitment—such as placing a deposit—before the September 30 cutoff, even if the deal is finalized afterward. It’s not yet clear whether other automakers will mirror these arrangements.
Why the change? The 17-year-old federal EV tax credit is ending following a July tax bill signed into law, marking a major policy shift for the electric car market. By stepping in, Ford and GM aim to soften the impact on consumers and keep their EV lineups attractive versus gas models.
What shoppers should know now:
– The up to $7,500 lease savings can still apply on select Ford and GM EV leases after September 30.
– The discount is embedded in the lease via the automakers’ finance arms, not taken later on your taxes.
– Ford plans to offer these savings through Ford Credit until December 2025.
– Placing a deposit before the deadline may preserve eligibility, per IRS guidance.
– Availability, terms, and eligible models can vary by region and dealer, so check current offers before you shop.
Bottom line: If you’re eyeing an electric lease, the best deals aren’t gone. Act promptly—place a deposit if needed, compare offers at local dealers, and ask how the $7,500 incentive is being applied to your monthly payment. This is one of the most straightforward ways to keep EV leasing affordable even as federal incentives shift.
