Key Points: Why EV Leasing Is So Attractive Right Now

• EV prices remain high, and the expiration of the federal EV tax credit at the end of September has underscored just how expensive new electric vehicles are.

• Automakers are offsetting high prices with aggressive lease deals, often featuring very low monthly payments.

• The trade-offs: many of these leases require large down payments and impose low annual mileage limits, which may not suit all drivers.

Why Leasing an EV Can Make Sense

Leasing has become the most cost-effective way to get into an EV if your priority is minimizing monthly payments:

• Lease cash incentives (manufacturer-funded discounts) are significantly reducing lease costs. Incentives vary widely by brand: some offer only a few hundred dollars, while others provide five-figure lease cash.

• According to Experian, EV leases save shoppers an average of $172 per month compared with financing.

• Even expensive EVs—including large SUVs and luxury models—can be leased for $250–$500 per month, which would be unrealistic under traditional financing.

Examples of Competitive EV Lease Pricing

• Mainstream EVs: Compact and midsize electric SUVs are leasing for well under $400 per month in many regions.

• Family-size EVs: Large three-row electric SUVs with $60,000+ sticker prices can still lease in the mid-$400 range.

• Luxury EVs: Premium brands are offering sub-$500 monthly payments through aggressive incentives.

• Regional variability: Some of the lowest payments are market-specific, so local availability matters.

Bottom Line

• If you want a low monthly payment, leasing is currently the best path into EV ownership.

• However, read the fine print carefully—large upfront costs and restrictive mileage caps can erode the apparent value.

• Leasing works best for drivers with predictable mileage who plan to switch vehicles every few years rather than keep one long term.