Reuters reports that Ford and General Motors are attempting to extend the $7,500 reward for longer, as today is the last day to utilize the government’s EV tax credits. Plans made by the two manufacturers and dealers indicate that people who lease an electric car will be eligible for the credit. Ford and GM’s finance departments will purchase the EVs and offer sellers a lease option with a $7,500 credit built into the rate. The EV tax credit from the government ends tonight, September 30, 2025. People who buy or lease a new electric car from the list of eligible models will no longer be eligible for the $7,500 federal tax credit. Ford and General Motors are working on a short-term solution that will allow customers to take advantage of the deal for at least a few months, even though it will only be available for lease. Reuters was the first to report on the plans, using quotes from reporters and businesspeople. The website states that the tax credit can be used for EVs purchased from dealers with a down payment arranged through Ford and GM finance offices. With the $7,500, people can rent cars for less money for the rest of the year. Many people thought the tax credit was a good way to encourage people to switch from gas-powered to electric cars before it expired, even though it only applied to certain plug-in hybrids and electric vehicles. If Trump signs the One Big Beautiful Bill into law, the government will stop providing benefits such as the $3,750 credit for plug-in hybrid cars and the $4,000 credit for purchasing a used electric vehicle. The only electric car made by Ford was the F-150 Lightning. The Cadillac Lyriq, Optiq, and Vistiq are just a few of the many models that General Motors makes. The company also makes the electric GMC Sierra and the Chevy Blazer, Equinox, and Silverado. When Invoice-Pricing contacted Ford and General Motors to verify the legality of the programs, both companies confirmed that the information reported in the Reuters story was accurate. However, neither business gave more details.
