Nissan, Honda, Lexus, Hyundai, etc.
Blame incentive competition for inventory disposal
Cheaper than internal combustion engines and hybrids
As automakers begin to dispose of their electric vehicle (EV) inventory, the lease prices of some models were found to be significantly cheaper than hybrids (HEVs) and plug-in hybrids (PHEVs).
As of the 22nd, online car sales platform Cars Direct conducted a survey of EV lease programs across the country and found that the monthly lease cost, including down payment, for some models had fallen to around $200.
The total lease cost for HEV and PHEV models is around $400 per month.
The cheapest EV lease deal was the 2024 Nissan Leaf S 40kWh trim in the Denver area, with a down payment of $2,529 and a monthly lease fee of $109 per month for 36 months. If you calculate the total lease cost including down payment, it is only $179 per month.
Next, the Nissan 2024 Ariya Engage 63kWh trim costs $3,329 down payment and $99 per month for 36 months, making the total lease cost approximately $238 per month.
Beanfest’s 2024 VF8 also has a down payment of $894 and $199 per month for 36 months, which translates to a total lease cost of $244 per month.
The 2024 Prologue EX trim, Honda’s first electric vehicle model whose sales have recently been rapidly increasing, costs $259 per month for 36 months with a down payment of $1,299, for a total lease cost of $295 per month. The price is lowered by $30 per month compared to last month, and considering that the MSRP is $48,795, it is considered a very good deal.
Lexus’ first EV, the 2024 RZ 300e Premium trim, comes with a $16,500 lease cash incentive and costs $399 per month for 36 months with a $1,999 down payment. Colorado even applies state incentives, so you only have to pay $299 per month with no down payment.
Hyundai and Kia, which offer a $7,500 lease bonus cash, are also introducing competitive EV lease programs.
The Hyundai 2024 IONIQ 5 SE Standard Trim requires a down payment of $3,999 and only $159 per month for 24 months, bringing the total lease cost to $326 per month. In particular, Hyundai is offering the SE Long Range trim for $399 per month for 13 months with no down payment until the end of this month as a surprise lease event.
The 2024 Kia Niro Wind trim costs $3,999 down payment and $169 per month for 24 months, resulting in a total lease cost of $336 per month. The 2024 EV6 Light Long Range RWD trim also costs $3,999 down payment and $179 per month for 24 months, which is a total lease cost of $346 per month. It’s like a dollar.
The Subaru 2024 Solterra Premium trim costs $279 per month for 36 months with a $279 down payment, for a total lease cost of $287 per month.
The 2024 Toyota nZ4X, a similar model to Solterra, costs $239 per month for 36 months with a down payment of $2,999, making the total cost $322 per month, making Subaru $35 per month cheaper.
Cars Direct advised that EVs are much cheaper to lease than gas car models due to incentives from manufacturers, and that since new lease programs are released every month, it is advantageous to check through each company’s website.
Reporter Park Nak-hee [email protected]
