Leasing Electric Vehicles Becomes More Affordable

Leasing electric vehicles is becoming increasingly affordable due to high interest rates on purchases, dealer incentives, and favorable tax credits for leases. Some leases are available for as low as $20 a month, making it an attractive option for consumers.

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9/13/2024

[0]Electrek

Here are the EVs you can lease for under $300 a month this September [Updated]

9/12/2024

[1]Electrek

Kia EV6 is now cheaper to lease than a Soul with over $17,000 in discounts

[2]zerohedge.com

"We're Just Giving Them Away": EV Leases Have Plunged To As Low As $20 Per Month

9/11/2024

[3]CBS News

Here's why it's a good time to lease an electric vehicle

[4]The US Sun

Drivers can now lease car for only $20 a month - but under certain conditions

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Highlights

The average price of a new car was $48,401 in July, while the average EV sales price was $56,520.
Leases on electric vehicles are becoming more affordable, with some available for as low as $20 a month under certain conditions.
The federal government's $7,500 tax credit for clean vehicles has fewer restrictions when applied to EV leases compared to purchases.
Consumers can expect to sign lease agreements for around $300 a month, with average lease payments on EVs at $578.
Many electric vehicles are sitting on lots longer than usual, prompting dealers to offer discounts and incentives.

Perspectives

Experts suggest that leasing electric vehicles is a financially savvy option for consumers, especially given the current market conditions and the availability of significant tax credits that favor leasing over purchasing.
The electric vehicle market is facing challenges due to high purchasing costs and limited selection, leading to a shift in target consumers who are less willing to pay a premium for EVs.