Chevy, Cadillac, GMC, and Ford’s electric vehicles will still be eligible for the credit after the September 30 deadline. The $7,500 tax credit for electric vehicles is set to expire today, but Ford and GM plan to continue offering it for at least another few months.
Will Ford and GM offer the EV tax credit after it expires?
If you missed the deadline to lock in the $7,500 credit, don’t worry, you’ll still have the chance to grab the savings.
Ford and GM are rolling out programs to dealers across the US that will extend the tax credit for EV buyers beyond the September 30 deadline.
According to an exclusive report from Reuters, Ford and GM’s financing units will step in and provide down payments to dealers. One of the dealers briefed on the program said the down payment will enable the vehicle to become eligible for the federal $7,500 EV tax credit.
By doing so, Ford and GM dealerships will be able to offer the credit for at least another few months through leasing.
“We worked with our GM dealers on an extended offer for customers to benefit from the tax credit for leases,” GM told Reuters in a statement.
Ford is working with its dealers to offer competitive EV lease payments through Ford Credit until December 31, 2025.
Although major news outlets are pushing headlines like EVs face “a pretty dreadful year” with the end of the federal tax credit, it likely won’t be as bad as many are predicting.
For one, there are already more options to choose from than ever, which has helped drive prices down. Over the next few months, several new EVs, including the new Chevy Bolt EV and Nissan LEAF, will hit the market, which will be among the most affordable on the market.
New EV sales hit another record in August, with 13 brands posting their best sales of 2025. According to Cox Automotive, Tesla, Chevy, Ford, Hyundai, and Honda continued to lead the market.
The top six selling EVs — the Tesla Model Y, Model 3, Honda Prologue, Chevy Equinox EV, Hyundai IONIQ 5, and Ford Mustang Mach-E — all saw growth with strong incentives. The Hyundai IONIQ 5 and Honda Prologue had the most aggressive incentives, while the Chevy Equinox EV had the lowest ATP with “very little incentive support.”
Cox Automotive stresses that “The market’s ability to respond to real-time demand and pricing dynamics will be crucial as incentives taper and inventory remains tight, shaping performance through the remainder of the year.
Even if you miss the deadline, many brands will continue to offer savings through various lease programs, like Ford and GM. If you’re interested, you can use the links below to see what’s available in your area.
- Chevy Equinox EV
- Chevy Blazer EV
- Chevy Silverado EV
- Cadillac Optiq
- Cadillac Lyriq
- Cadillac Vistiq
- Cadillac Escalade IQ
- GMC Sierra EV
- GMC Hummer EV pickup
- GMC Hummer EV SUV
- Hyundai IONIQ 5
- Honda Prologue
- Ford Mustang Mach-E
- Ford F-150 Lightning
- Tesla Model Y
- Tesla Model 3
Author: Peter Johnson
Source: Electrek
Reviewed By: Editorial Team
