As automakers begin to unload their electric vehicle (EV) inventory, lease prices for some models are showing significantly lower prices than hybrid (HEV) and plug-in hybrid (PHEV) models.
According to a survey of EV leasing programs across the country by online car trading platform CarsDirect, the monthly lease cost for some models has dropped to around $200 per month including a down payment. This is notably cheaper than the total lease costs for HEV and PHEV models when they are hovering around $400 per month.
The cheapest EV lease deal was a Nissan 2024 Leaf S 40 kWh trim in Denver with a $2,529 down payment and monthly lease payments of $109 per month for 36 months. The total lease cost, including the down payment, is just $179 per month.
The 2024 Nissan Ariya Engage 63 kWh trim is next with $3,329 down and $99 per month for 36 months, for a total lease cost of $238 per month.
Vinfast’s 2024 VF8 is also available for $894 down and $199 per month for 36 months, for a total lease cost of $244 per month.
Honda’s first electric vehicle, the 2024 Prologue EX, has seen a recent surge in sales, and requires $1,299 down and $259 per month for 36 months for a total lease payment of $295 per month. That’s $30 per month less than last month’s price, which puts it at a very good deal considering its $48,795 MSRP.
Lexus’ first EV, the 2024 RZ 300e Premium trim, is available with a $16,500 lease cash incentive for $1,999 down and $399 per month for 36 months. In Colorado where state incentives are also available, the price is $299 per month with no down payment.
Hyundai and Kia, which are offering $7,500 lease bonus cash, also have competitive EV lease programs.
Hyundai’s 2024 Ioniq 5 SE Standard trim requires $3,999 down and only $159 per month for 24 months, for a total lease payment of $326 per month. Hyundai is also offering the SE Long Range trim for $399 per month for 13 months with no down payment through the end of the month as a special lease offer.
Kia’s 2024 Niro Wind has a $3,999 down payment and $169 per month for 24 months for a total lease payment of $336 per month, and the 2024 EV6 Light Long Range RWD has a $3,999 down payment and $179 per month for 24 months for a total lease payment of $346 per month.
Subaru’s 2024 Solterra Premium is offered at $279 down and $279 per month for 36 months for a total lease payment of $287 per month.
Solterra’s collaborated sister model, the 2024 Toyota nZ4X, is being leased at $299 down and $239 per month bringing the 36-month price to a total of $322 per month, which makes Subaru about $35 per month cheaper.
Manufacturers’ incentives make EVs much cheaper to lease than gasoline models, according to the experts. They also noted that new lease programs roll out every month, so it’s worth checking each company’s website.
BY NAKI PARK, HOONSIK WOO [woo.hoonsik@koreadaily.com]
