The electric car market is heating up, and automakers have some exciting new models to show off. That means you can find some great deals if you’re patient. You can snag an EV lease on a fun model with lots of advanced features or a spacious, comfortable SUV that will carry the family. You’ll also be able to save a bit by leasing instead of buying.
In fact, the best Electric car deals are often leases, as most new EVs come with a factory warranty that covers two or three years, and many manufacturers are including some of the federal tax credit in their lease offers. That means that you can pay a lower monthly payment than you would if you bought the car.
Another benefit of a lease is that you can walk away from the vehicle at the end of the contract. You can buy it, or return it to the lessor, depending on the contract. However, you’ll typically have to pay extra if you mistreat the car or exceed its annual mileage cap. And, in some cases, you’ll have to pay a fee to remove any aftermarket accessories installed during the lease term.
You can get an even better deal if you opt to purchase the car at the end of the lease. This option is usually available if you want to own the vehicle and will often cost less than what the lessor projected its future value to be at the end of the lease term.
As a result of a slowdown in demand for big, expensive electric cars and dwindling manufacturer incentives, some dealers are offering steep discounts on the most popular EVs. In addition to a $7,500 federal tax credit, you can get a huge price cut on Tesla’s Model 3 and Model Y or a new Kia EV9 with the manufacturer’s incentive program.
To help you navigate the confusing world of EV pricing and leases, we’ve gathered 10 of the best electric car deals right now. These financing and cash-back offers are good at participating dealerships nationwide, but remember that credit eligibility is a standard requirement.
Hyundai: $7,500 EV Lease Bonus on Ioniq 5 and Ioniq 6 SE and SEL. Kia: $1,000 EV9 Loyalty Discount and $7,500 Customer Cash on 2024 EV9. Kia is also offering 0% financing on the 2024 EV9 Long Range model, which can deliver up to 304 miles of range.
The Ford Mach-E is a past Best Buy Award winner and offers useful tech, plenty of space and an impressive 312 miles of range. The past Best Buy award winner is currently a top-ranked lease thanks to this excellent financing offer that includes a $3,000 cash back rebate. This offer is valid through June 3.