2019 Jaguar I-Pace ・ Photo by Jaguar
It can be expensive to be an early adopter of new technology. If you’re ready to enter the battery-electric vehicle arena, you’ve probably discovered that the purchase price can be steep, especially when compared to the internal combustion alternative. It is possible to sidestep this issue with a familiar alternative: leasing.
Most EV manufacturers have leasing plans, and they usually require a lower up-front payment than a financed purchase. Leases usually come with annual mileage limits, minimum insurance requirements, and other restrictions. The good news is, if you decide that EV life isn’t for you, you can return your leased vehicle at the end of the lease term and walk away unencumbered, so it’s a relatively safe way to try one on for size. Here are 10 Electric Car Lease Deals.
If you’ve got excellent credit, you may qualify for a screaming deal on a 2019 BMW i3 right now. Dealers have the option to waive the security deposit and to make a contribution of $1,374 and $7,500 Lease Credit to your lease, reducing your actual lease payment.
The deal requires a $3,000 down payment, and results in a monthly lease payment of $329 per month for 36 months, with a limit of 30,000 miles over the term of the lease. You’ll be responsible for tax, registration, and insurance, and a $350 disposition fee at lease end, plus $0.25 per mile over the limit and “excess wear and tear as defined in the lease contract.” This deal is available everywhere in the United States except Puerto Rico.
Photo by BMW
If you currently lease a 2014 or newer GM vehicle, you may qualify for a special deal on a 2019 Chevrolet Bolt. For $5,549 due upon signing with $0 security deposit, you can lease a Bolt for a term of 39 months at $449 per month. Tax, title and dealer fees are extra. Mileage charges of $0.25 per mile will apply if you exceed 32,500 miles during your lease, and you’ll be responsible for maintenance, repair, excess wear and tear, and a disposition fee of $395 at the end of the lease.
If you’re not a current GM lessee, this same deal will cost you $6,049 down. This lease deal is available nationwide.
Photo by Chevrolet
Though it doesn’t have the range of some of its competitors, the 2019 Honda Clarity Electric does have a very affordable lease deal right now. For just $1,799 due at signing, a 36-month lease runs at only $199 per month, excluding tax, registration, license, and dealer fees. The lease includes 20,000 miles per year, a very generous allowance.
Unfortunately for the rest of us, the Clarity Electric only is available in California and Oregon this model year, and only through select Honda dealers. If you can live with a range of 89 miles per charge and you live nearby, Clarity Electric could be quite a good lease deal. There’s no option to purchase a Clarity Electric at present.
Photo by Honda
The 2019 Hyundai Ioniq Electric has been getting overshadowed by its lineup-mate Kona Electric this year, but that could be an opportunity for smart lessees who find Ioniq’s 124-mile EV range sufficient for their needs.
Hyundai’s current offer on the Ioniq Electric is $239 per month on a 36-month lease with just $2,500 down, including your first monthly payment plus $2,261 capitalized cost reduction, with no security deposit required. The lease includes 12,000 miles per year. This is a closed-end lease, with a purchase price at the end of $14,368 plus a purchase option fee. If you choose not to purchase, there’s a disposition fee, plus a charge of $0.20 per mile over 12,000 per year, and excess wear and tear.
Photo by Hyundai
The compact crossover 2019 Hyundai Kona EV is capable of an impressive 258 miles of range on a full charge. The current lease offer from Hyundai Motor Finance will encourage you to use that range for up to 12,000 miles per year on a three-year deal. No security deposit is required, with just $3,899 due upon signing, including $3,530 capitalized cost reduction, which is in essence a down payment, plus the first of 36 monthly payments of $369.
The acquisition fee of $650 is included in the total net capitalization. A disposition fee (not specified) and $0.20 per mile over the included allotment will be due upon vehicle return, or lessee will have the option to purchase the EV for $17,858 plus tax and an unspecified purchase option fee. Like all leases, this is one where you must read the fine print, and avoid any unpleasant surprises.
Photo by Hyundai
Luxury electric has a new entry this year, and it’s the 2019 Jaguar I-PACE, a five-passenger crossover electric vehicle with all-wheel drive and a range of up to 234 miles. With sporty handling and a 0-60 mph as quick as 4.5 seconds, I-PACE is all Jaguar.
A 36-month lease starts at $899 per month, with $5,995 due at signing, which includes $4,201 down, $0 security deposit, an $895 acquisition fee, and the first month’s payment of $899. The lease includes 30,000 miles, and carries a potential penalty of $0.30 per mile for every mile driven in excess of that distance during the lease term. At signing, tje lessee can negotiate a purchase price for the vehicle at the end of the lease.
Photo by Jaguar
Though it shares a powertrain with the Hyundai Kona Electric, the 2019 Kia Niro EV is a completely unique crossover vehicle that actually is larger than the Kona. Niro EV has a range of 239 miles on a single charge, a very useful amount for a compact utility vehicle.
Kia offers a 36-month closed-end lease that includes 10,000 miles per year. This lease requires $3,999 at signing, which includes a $3,030 capitalized cost reduction, $650 acquisition fee, and $0 security deposit, along with the first month’s payment of $319. Residual value at the end of the lease will be $19,352.55, which the lessee can pay at the end of the lease in order to take ownership of the Niro EV. Otherwise, a fee of $0.20 per mile over 30,000 miles, plus a charge for excess wear and tear and a $400 termination fee, will apply.
Photo by Kia
The 2019 Nissan LEAF is one of the veteran electric vehicles on the market today, and one of the most affordable to buy or lease. Nissan currently is running a special closed-end lease on the 2019 Nissan Leaf S that runs $239 per month for 36 months. The lease requires $2,976 due at signing, which includes a down payment of $2,737 plus $239 first month’s payment, and $0 security deposit. It also includes a $9,150 manufacturer’s rebate, plus a $1,000 VPP A Plan discount.
Purchase price at the end of the lease will be $11,119, plus $0.25 per mile over the allotted 10,000 miles per year, a fee for excess wear and tear, and a purchase option fee of up to $300. The low purchase price at the end of this lease makes the Leaf extra-attractive.
Photo by Nissan
Tesla Motors has a leasing program called, appropriately enough, Tesla Leasing. The best current deal is on the 2019 Tesla Model 3. It requires no security deposit, and just a $3,000 down payment, $695 acquisition fee and the first month’s lease payment due upon delivery.
Leases run for three years, with 10,000-mile, 12,000-mile or 15,000-mile annual options. A Model 3 Standard Range Plus lease starts at $444 per month with a 10,000-mile annual limit. Taxes and registration fees are not included. Tesla Leasing is available in the following states: AL, AK, AR, AZ, CA, CO, CT, DC, FL, GA, HI, ID, IL, IN, KS, MA, MD, ME, MN, MO, MT, NC, ND, NJ, NM, NV, NY, OH, OR, PA, SC, SD, TN, TX, UT, VA, VT, WA, WV, and WY. Not available in DE, IA, KY, LA, MI, MS, NE, NH, OK, RI, and WI.
Photo by Tesla
With a range of up to 125 miles on a single charge, the 2019 Volkswagen e-Golf packs a ton of technology from the Volkswagen Group into a tidy, sporty package. A 39-month closed-end lease currently runs $269 per month with 32,500 miles included. A fee of $3,499 is due upon signing, with no security deposit required.
Initial payment includes $2,555 capitalized cost reduction, an acquisition fee of $675, and the first month’s payment of $269. A disposition fee of $395 is due at the end of the lease, plus $0.20 per mile over the limit and excessive wear and tear. This offer is valid in California, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island, Vermont and Washington, DC, and excludes taxes, license, options, and dealer fees.
Photo by Volkswagen