Electric Vehicle Lease Deals – Car and Driver

Here are the best information about Leasing electric car public topics compiled and compiled by our team

It’s all turmoil out there in the new vehicle market. Consumer confidence has dive-bombed, sales have evaporated, and dealers are sitting on fat inventories. Meanwhile, manufacturers have been throwing up Hail Mary offers to get people to consider taking the new-car plunge. Also, gasoline is ridiculously cheap. Does any of this make now the right time to lease a new electric vehicle?

What your situation is, of course, is between you, your significant other, your accountant, your lawyer, and clergy. But we hope this guide will help in your decision-making.

The electric-car market is still a young one. Until recently, electrics like the Nissan Leaf and Fiat 500e took a massive depreciation hit relative to comparable vehicles powered by internal-combustion engines. Some of that was due simply to the fact that electric-vehicle technology was moving so fast that last year’s state of the art seemed like this year’s Betamax. Big depreciation usually means lousy residual valuations and, everything else being equal, expensive leases.

But all things aren’t equal. Right now, on Planet Pandemic, it’s tougher to discern whether leasing makes sense for you. With no-interest financing offered on loan lengths stretching out up to 84 months and with the first three months of payments deferred, it can make more sense to buy something rather than lease. Ask your accountant.

There are 14 EVs currently for sale in the U.S., though not all of them are actually 2020 models. Some manufacturers are still clearing out last year’s stock, so the best deals are on those models. Also, not every EV for sale in the U.S. can be leased, such as the new Mini Electric, and a few more will join the ranks soon enough. For instance, if you want a Kia Soul EV, you’ll have to wait for the 2021 model year. Same goes for the new Ford Mustang Mach-E.

To give you a frame of reference as you begin your search for an EV, here are the best manufacturer-advertised EV leases we could find this month, listed in alphabetical order by brand. All of these deals are good through at least the end of May. There’s a good chance that some will continue into the months ahead. And as you shop, keep doing your research on the manufacturers’ and dealers’ web sites to stay abreast of the newest opportunities to save.

Consider the following as starting points for negotiation. Make sure you’ve shopped for the lowest “money factor” interest rate available and ask dealers to at least match that. Some dealers have electric vehicles that have been casting shadows on their backlots for two years—so get the price down as low as possible before it’s factored into your lease. And shop around at your credit union, bank, or affinity organization (like USAA or Costco) for discounts that may be ripe for the picking.

2019 Audi e-tron

  • Three years/30,000 miles
  • $679 per month
  • $5573 due at signing

Audi dealers set their own lease deals, so they can vary quite a bit from one store to another. This particular deal, which incorporates a $2000 factory incentive, was found on the website of New York City’s Audi Manhattan. Meanwhile, at Audi Farmington Hills, Michigan, it’s a similar deal, at $689 per month after only $4984 at signing. So, over the life of the lease, the Michigan deal is $239 cheaper.

2020 BMW i3

  • Three years/30,000 miles
  • $309 per month
  • $3999 due at signing

The i3 has been around since the 2014 model year, and its small hatch form hasn’t meshed well with BMW’s brand image. But BMW has made it better over its life, and the car’s range now extends up to 153 miles. Still, this Bimmer has never been a sales hit. The price of the lease is dirt cheap for a BMW—even if it’s a bit precious for a weird-looking electric hatch.

2020 Chevrolet Bolt EV

  • Three years/30,000 miles
  • $249 per month
  • $2769 due at signing

Residuals on the Chevrolet Bolt have been improving lately as used vehicles with lots of life left in them hit the market. But the Bolt is still limited in its appeal, and these nationally advertised leases reflect that. Remember, the Bolt starts at more than $36,000, but factoring in government incentives lowers that price considerably. The $2769 at signing is available to current lessees of 2015-or-newer vehicles. For the rest of us, it will take $4269 at signing.

2019 Fiat 500e

  • Three years/36,000 miles
  • $229 per month
  • $2349 due at signing

Yes, it’s surprising that the 500e is still around. It’s surprising that Fiat is still around. The 84-mile range of this vehicle is a severe limitation. And it’s not available in every state. This lease offer is good only in California and Oregon.

2019 Hyundai Ioniq Electric

  • Three years/30,000 miles
  • $79 per month
  • $999 due at signing

This is the holy-moly superdeal in the history of leased electric cars. Apparently, there are Hyundai dealers in New York City with enough 2019 Ioniq Electrics on their lots that they’re willing to blow them out on this fire-sale lease. That’s not a misprint: It’s $79 a month after only $999 down at signing in the metro market. In other parts of the country, 2019 Ioniq Electric lease deals run $109 per month after $2500 down. Leases on the improved 2020 model are significantly higher.

2019 Hyundai Kona Electric

  • Three years/30,000 miles
  • $299 per month
  • $3899 due at signing

With an EPA-rated 258 miles of range, the Kona Electric is Hyundai’s most advanced zapper. Purchase prices start pretty high, at a lofty $38,330, but government subsidies and Hyundai’s factory incentives drop the price to a reasonable sum. Plus, in many regions, lessees get a $500 rebate check after acquisition. This deal is in Southern California for the 2019 model. It’ll be slightly different in other areas.

2020 Jaguar I-Pace

  • Three years/30,000 miles
  • $949 per month
  • $5995 due at signing

Okay, it’s not cheap, but Jag’s I-Pace is stylish and drives great. There are less costly alternatives but none that are as pretty as this car, er, SUV, er, whatever. It’s quick and has a claimed 234-mile range.

2019 Kia Niro EV

  • Three years/30,000 miles
  • $319 per month
  • $2499 due at signing

Rated at 239 miles of range, the Niro EV has the juice to alleviate that nasty can-I-make-it anxiety. And it kind of looks like a small crossover or at least a jacked-up hatchback. Currently, it’s available only in California, Connecticut, Georgia, Hawaii, Maryland, Massachusetts, Rhode Island, New Jersey, New York, Oregon, Texas, and Washington. The other 38 states are obviously considered unworthy by Kia. You’ll find this deal in New York City. In Southern California, the signing cash goes up by $500, to $2999.

2019 Nissan Leaf

  • Three years/30,000 miles
  • $179 per month
  • $2499 due at signing

The Leaf was a pioneer in the electric field, and the second-generation car is sweet to drive and nowhere near as awkward-looking as the first. It’s 214-plus-mile range is pretty good, too. This lease is offered in Southern California; in other regions, it’s slightly more expensive. If having the virtually identical 2020 model matters to you, it will cost more.

2020 Porsche Taycan

  • No factory offers yet

One thing for certain: The lease won’t be cheap.

2020 Tesla Model 3

  • Three years/30,000 miles
  • $399 per month
  • $5594 due at signing

This deal, calculated on Tesla’s website, is for the base standard-range single-motor rear- drive model. Go for the longer-range dual-motor versions and the lease cost skyrockets. For instance, the Performance model will cost you $649 per month on the same lease length after putting down $5844 at signing.

2020 Tesla Model S

  • Three years/30,000 miles
  • $999 per month
  • $9194 due at signing

The big luxurious Model S beast remains the EV benchmark. This lease is based on the standard Long Range Plus version. Of course, you’ll pay more for the stupendous Performance model—figure $1299 per month after $9494 at signing.

2020 Tesla Model X

  • Three years/30,000 miles
  • $1099 per month
  • $9294 due at signing

Shaped like an aardvark’s back and featuring a truly silly set of gullwing side doors, the standard Model X Long Range is slightly more expensive to lease than the equivalent Model S. And, yes, you’ll pay more for the Performance version, like $1399 per month.

2020 Tesla Model Y

  • No factory offers yet

The new Model Y crossover is just hitting the market and isn’t yet included on Tesla’s lease calculator.

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