$7,500 EV Lease Credit Lives On With Ford and GM’s New Move

Great news for car buyers: Ford and General Motors are extending programs that allow U.S. consumers to take advantage of the $7,500 federal EV lease credit. This incentive is due to start phasing out for the majority of automakers in 2025, however, Ford and GM are stepping up with additional pricing options so customers can retention the value of the incentive. Instead of paying a higher lease price, consumers can still save thousands when leasing popular models, including the Ford Mustang Mach-E, F-150 Lightning, or Cadillac Lyriq. This is an attempt to ensure that EVs remain viable in an environment that has increased prices and competition.

How the $7,500 EV Lease Credit Works

The benefit stems from the Inflation Reduction Act, which initially included a tax break when buying EVs. Now, leasing is really the only way many buyers could actually access all of the $7,500 savings. Ford and GM are making it plain that the savings are being passed into the lease deal so that monthly payments are lower from the very start. That way the driver does not have to wait for the tax season to take advantage of the savings, the reduction is shown on the lease agreement.

Key pointers:

• Works only on leasing, not on outright purchases.
• Applies to models that meet federal guidelines.
• Credit shows up as reduced lease cost, not a tax rebate.

Which Ford and GM Models Qualify

Both automakers are focusing on high-demand EVs to keep sales momentum strong. For Ford, that means:

• Mustang Mach-E
• F-150 Lightning
• E-Transit (for business fleets)

For GM, the list includes:

• Cadillac Lyriq
• Chevrolet Blazer EV
• Chevrolet Equinox EV
• Some fleet-oriented models

Exact availability will vary by dealer, but these are the core EVs where buyers can expect to see the savings.

How Long Will the Lease Credit Be Available

Ford confirmed the program is extended through the end of 2025, giving customers plenty of time to take advantage. GM, however, has not set a firm end date yet—meaning it could change based on market demand or government guidance. Shoppers interested in GM’s offers should check with dealers regularly to avoid missing out.

How Ford and GM’s $7,500 Lease Credit Impacts Car Shoppers

Electric cars have been gaining traction, but affordability is still a major concern. By keeping the $7,500 lease credit alive, Ford and GM are making EVs more competitive against traditional gas-powered cars. For everyday drivers, this could mean:

• Lower monthly payments compared to buying.
• Easier access to premium EVs without a heavy upfront cost.
• More options for budget-conscious families exploring electric mobility.

This is especially important now as interest rates remain high and many shoppers are cautious about making big financial commitments.

Ford and GM EV Lease Specifications with $7,500 Credit

Conclusion

Ford and GM’s effort to extend the $7,500 EV lease credit demonstrates how competitive the electric car market has gotten. For drivers, it is not just a discount offer for getting into an electric vehicle, it is a discount that brings EVs into the realm of possibility. While Ford has solidified its commitment through 2025, GM's open-ended future commitment creates an urgency for those thinking about buying an electric vehicle sooner rather than later. In a market where every dollar matters, these programs may be a tipping point for more Americans to embrace electric driving.

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Source(Image / Thumbnail): www.reuters.com