Ford and General Motors have introduced new programs aimed at extending the use of the $7,500 U.S. tax credit on electric vehicle leases beyond the subsidy’s expiration date. EV companies including Tesla have been desperate to secure car sales before the expiration of the tax credit, demonstrating their importance in the EV buying decision.

Reuters reports that in a bid to mitigate the impact of the expiring $7,500 federal tax credit on EV leases, automotive giants Ford and GM have launched desperate attempts to effectively extend the subsidy’s use. The programs, rolled out to their respective dealers in recent days, involve the automakers’ financing arms initiating the purchase of EVs from dealers’ inventory by making down payments on them.

Under these schemes, the down payments made

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