EV Lease Lifeline: Ford and GM Extend Crucial $7,500 Savings Post-Federal Credit

In a bold move to keep electric vehicle (EV) adoption charging forward, automotive giants Ford and General Motors (GM) have announced they will continue to offer a significant $7,500 lease incentive on many of their popular EV models. This decision comes despite the expiration of the federal EV tax credit for these particular vehicles, a development that could have otherwise slowed consumer interest.

For prospective EV buyers, this is a breath of fresh air.

Leased EVs have become a popular entry point into the electric vehicle market, offering flexibility and often lower monthly payments. The previous federal incentive, a direct $7,500 tax credit, made these leases even more attractive. With its removal for certain models, there was concern that the sudden price increase would deter potential customers.

However, Ford and GM are stepping up to bridge this gap, effectively absorbing the cost or utilizing alternative financing mechanisms to ensure the $7,500 saving is still passed on to lessees.

This strategy underscores their commitment to their electrification goals and acknowledges the competitive landscape of the EV market.

Ford, for instance, is extending the $7,500 lease cash on its highly sought-after F-150 Lightning electric pickup truck, the Mustang Mach-E SUV, and the E-Transit commercial van.

Similarly, GM is applying the discount to models like the Chevrolet Bolt EV/EUV, the upcoming Equinox EV, Blazer EV, and Silverado EV. This broad coverage ensures a wide range of consumers can benefit from the continued affordability.

The move by these major manufacturers is not purely altruistic.

It's a strategic response to maintain sales momentum, especially as supply chains stabilize and production ramps up. By keeping lease payments attractive, they aim to secure market share and prevent a slump in demand that could arise from the loss of federal subsidies. It also helps them remain competitive against rivals, many of whom are also exploring similar incentive structures.

This extension of savings highlights the crucial role that manufacturer-backed incentives play in the EV ecosystem.

While government tax credits are powerful, the ability of automakers to step in and offer direct discounts can be just as impactful in driving consumer adoption and accelerating the transition to sustainable transportation. For consumers eyeing an EV, now might be an opportune time to explore leasing options from Ford and GM, securing substantial savings that might otherwise have vanished.