General Motors and Ford are deploying finance arm programs that effectively push the $7,500 U.S. federal tax credit on electric vehicle (EV) leases into the fourth quarter, despite its Sept. 30 expiration.
Both companies will use their captive finance units to make down payments on qualifying EVs in dealer inventory by the deadline, Reuters reported. That allows the vehicles to qualify under IRS rules and enables dealers to continue advertising lease terms with the incentive baked in.
GM Financial will acquire eligible EVs from dealers before Sept. 30 and apply a down payment to secure the credit. Ford Credit, meanwhile, has created a program that lets dealers continue offering competitive lease payments through Dec. 31, supplemented with a $1,000 incentive per leased vehicle.
IRS guidance issued in August clarified that if a vehicle is acquired via a binding contract and down payment by Sept. 30, the $7,500 credit can still be claimed when it is placed in service after the deadline. A down payment can include cash or a trade-in.
Repairers are closely watching EV market dynamics. In Q2 2025, U.S. repairable BEV (battery-electric vehicle) claim frequency fell to 2.92%, a 7% decline compared with a year earlier. Analysts link the dip to softening EV demand as incentives waver.
However, recent new-car sales forecasts showed EVs representing 10% of all new-car sales in Q3 2025 — a record share — as buyers rushed to purchase EVs ahead of the expiring federal tax credit.
