New cars don’t often come cheap, and EVs typically less so. Batteries are still expensive to manufacture, after all. However, if you know where to look, you can find some very attractive lease deals. They’ll put you behind the wheel of a brand-new EV for less than you might have thought possible.
These deals come to us via Leasehackr. Full disclosure, this is us flicking through the site, they didn’t ask us to write this. It’s a website that posts pre-negotiated lease deals to streamline the process for customers. The idea is that you can find a deal on the site, sign on the dotted line, and pick up your new lease without any haggling or surprise markups at the dealership.
Right now, it’s the EVs that are the hottest property on the site. You can get into some hot new metal for under $300 a month, and you won’t be paying for gas, either!
For enthusiasts, the sweetest deal we found was a 2024 Mini Cooper SE for just $220 a month for 36 months, with $0 down. Taxes and fees will see $2,544 due at signing, but that’s still a roaring deal. It’s only available to customers in New York, New Jersey, Connecticut, and Pennsylvania, but a Mini looks great anywhere in the Northeast. At the time of writing, 12 cars were left on that deal.
If you’re looking for something bigger, you might like to try a 2024 Hyundai Ioniq 5. It’s just $267 a month for 24 months with $0 down, which is pretty wild for a car that retails for $49,670 in the RWD trim. You’ll be up for $2,694 in taxes and fees up front, and you’ll need to pick it up from a dealer in Northern California.
You can get a 2024 Kia Niro EV on a very similar deal, too, while Kia EV6s are a trifle more expensive. Even a Nissan Ariya slides in just under that magic $300 figure, at $298 a month for 18 months.
As a guide, let’s compare this with our recent coverage on cheap Teslas. if you bought a new Tesla Model Y with $4,250 down, you’d be paying $603 a month, or $499 with the federal tax credit. That’s even with Tesla’s new 0.99% APR offer. In contrast, paying under $300 for a comparable vehicle sounds pretty attractive, and you can trade up to a new one in a couple of years. However, it’s important to remember you won’t have an asset at the end of the lease period.
These deals typically come with decent mileage allotments of 7,500 to 10,000 miles a year. That works out to 144-192 miles a week on average; plenty for a lot of people, but you’ll need to look more carefully if you’re planning on racking up more miles than that.
As explained by Leasehackr, government incentives play a role here. Leases aren’t subject to the same country-of-origin restrictions as new car sales when it comes to the government’s tax credits. A commercial buyer can lease an EV and collect a $7,500 tax credit regardless of where the car and battery were built. Thus, lease companies associated with manufacturers are effectively taking these tax credits and passing the benefits on to consumers with lower prices.
If your tastes skew more luxurious, you could consider a 2024 Audi Q8 e-tron for $599 a month and $0 down. If you want something really fast, though, go for the 2024 Audi e-tron GT. You’ll pay just $891 a month for 36 months, with $0 down. You’ll pay $4,100 upfront for fees and taxes, but you’re getting out cheap for a car that retails at $127,190. According to Leasehackr, you’re effectively getting over $25,000 in discounts and incentives to reach that final lease price.
Right now, it’s easy to make a good argument for leasing an EV. You’ll get to drive something brand new that doesn’t use any gas. The bonus is, if you hate it, it won’t be forever. Plus, in an era when used car prices are kinda screwy, you won’t have to worry about resale.
Images: Leasehackr
The post You Can Lease A Brand New EV For Under $300 A Month If You Know Where To Look appeared first on The Autopian.
