Electric Cars

Leasing an Electric Car on a Budget

February 19, 2021

Leasing an Electric Car

The electric car marketplace is an ever-changing landscape and, if you’re thinking of buying or leasing a new EV, it’s a good idea to know the best time to make the leap. This is especially true if you’re on a tight budget and looking for the best deals. As we all know, each year auto makers produce new models cars - and that means dealers make special year-end deals on current year models.

Shopping Leases for Electric Cars

If you buy an electric car at the end of the year, dealerships have special incentives including large discounts and low financing deals. If you lease your EV from a dealership, you get even more savings to get you into an electric car without spending a fortune. For instance, if you lease, you only have to wait a short time to get your federal tax credit since that credit is part of the lease’s transaction price. Interestingly, the vast majority of electric vehicles are being leased these days. It’s a great way to minimize the amount of money you have to put down up front and to get low monthly payments.

When you’re shopping lease deals, keep your eyes open for 0% financing and really low monthly lease payments. Amazingly, you can find several brand-new electric car models that are leasing for under $200 per month. You may even be eligible for additional plug-in rebates. For example, California drivers can take advantage of the Clean Vehicle Rebate worth up to $2,000 plus the Clean Fuel Reward worth an additional $1,500.

Manufacturer lease offers will surprise you. For instance, you can lease a new Chevy Bolt for 39 months at $298 a month. A Hyundai Kona can be leased for 36 months at $239, or a Nissan Leaf for 36 months at just $199.

For the lowest current lease deals across the country, visit https://electrek.co/best-electric-vehicle-leases/. Remarkably, at some select dealerships you’ll find the Chevy Bolt leasing for 36 months for just $167 or a Hyundai Ioniq Electric leasing as low as $116. You can actually find 24-month lease deals on a new Nissan Leaf for as low as $94 a month!

Check for deals on bonus cash, lower monthly payments, and lower money down on year end deals at your local Lithia Auto Dealer. Here are a few typical lease deals on popular model EVs to whet your appetite. Good hunting! You’ll find our Dealer Locator at www.lithia.com.

2020 BMW i3

Lease for $299 per month for 36 months with $3,999 due at signing ($7,500 rebate included in payment calculation).

0% APR for 60 months.

2020 Chevrolet Bolt EV

Costco members can get $3,000 customer cash toward a Bolt.

Lease for $298 per month for 39 months with $298 due at signing.

$6,250 customer cash.

2020 Hyundai Ioniq Electric

Lease for $169 per month for 36 months with $2,199 due at signing plus $1,000 bonus cash.

0% APR for 60 months plus $1,000 bonus cash.

2021 Hyundai Kona Electric

Lease for $289 per month for 36 months with $3,999 due at signing.

0.9% APR for 60 months.

2020 Kia Niro EV

Lease for $279 per month for 24 months with $2,999 due at signing.

0% APR for 72 months plus $1,000 bonus cash.

2020 Nissan LEAF

Lease for $235 per month for 36 months with $235 due at signing plus $1,000 bonus cash.

$7,000 customer cash.

0% APR for up to 72 months, plus $3,000 bonus cash.

2020 Tesla Model 3

Lease for $371 per month for 36 months with $4,500 due at signing.

2020 Tesla Model Y

Lease for $499 per month for 36 months with $4,500 due at signing.