EV Tax Credits Vanish September 30: What You Need to Know Before Thousands Disappear
The federal deadline comes years early, but leasing tricks and automaker perks can still keep thousands in your pocket.
***This article is in partnership with Ford***
Shoppers eyeing an electric vehicle have just a few weeks left to take advantage of generous federal tax credits. The $7,500 credit for new EVs and plug-in hybrids and $4,000 for used EVs expire on September 30 — years earlier than originally planned.
Why the Deadline Moved Up
The credits have been around in some form since 2009 and were meant to last until 2032. That changed with President Trump’s “One Big Beautiful Bill,” which pulled the end date forward by nearly a decade. For buyers, that means thousands of dollars in instant savings vanish overnight.
Unlike typical tax credits, these rebates don’t require waiting until April. They’re applied directly at the dealership, knocking thousands off the sticker price or functioning as a built-in down payment.
Automakers Step In With Incentives
To soften the blow, companies like Ford are offering their own perks. Ford’s Power Promise bundles a top-tier home charger and standard installation with any EV purchase or lease. The automaker says it has already installed more than 13,000 chargers in homes nationwide. That promotion also changes September 30, making the next few weeks the last chance for what amounts to a “bundle deal.”
Other elements of the Power Promise program will continue, including 24/7 support, access to the Blue Oval Charge Network, and warranties covering batteries and drive systems for eight years or 100,000 miles.
Do EVs Still Make Financial Sense?
Even without the federal tax credit, many EV owners find the math works in their favor. A full home charge often costs around $7, saving close to $2,000 per year compared with gasoline. (Of course, electricity costs vary by state.) Routine maintenance is lower, too: no oil changes and fewer moving parts.
Environmental benefits also remain clear. According to the EPA and independent research, Electric vehicles are still cleaner overall than fossil fuel vehicles — even when factoring in battery production, mining, power plant emissions, and end-of-life recycling.
Leasing May Be the Smartest Play
Here’s a twist many shoppers don’t realize: the $7,500 credit doesn’t vanish with leases. Instead, it flows to the leasing company — and most pass it on to drivers as a discount in monthly payments. That means immediate savings without waiting for tax season.
Leasing also reduces long-term risks, from uncertain resale values to rapid advances in battery technology. For anyone hesitant to commit, leasing offers a lower-cost, lower-risk way to get behind the wheel before September 30.
The Bottom Line
Between federal credits and automaker incentives, this month represents a last-chance window to save thousands on going electric. After September 30, shoppers will still find reasons to consider EVs — lower fuel and maintenance costs, environmental gains, and warranty coverage — but the up-front price jump will be hard to ignore.
For more information, you can check out Ford’s Electric vehicles offerings here.