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Ford & GM’s Lease Workaround Collides with Politics: Two Senators Force a Rapid U-Turn

Captive-Finance Plan Scrapped Within Days; Both Shift to Self-Funded Discounts, Exposing How Fragile Post-Credit Demand Is

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October 9, 2025

TLDR: Ford and GM attempted to extend the expired $7,500 EV tax credit by having their finance arms buy dealer inventory before the September 30 deadline, then lease to customers. Republican Senator Bernie Moreno called it “bilking taxpayers.” Both companies reversed course within days, now self-funding smaller discounts. The episode reveals how precarious the post-credit EV market truly is.

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