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June 1, 2022
Electric vehicles are more efficient and affordable than ever before. Companies will only continue to add charging stations as time goes on.Â
EVs are an environmentally sustainable choice that reduces the cost of ownership over its lifetime. There are now several different manufacturers offering EV options.Â
Below we share the best EV financing options for this month.
Table of Contents
Are EV tax credits still available? Check out our simple guide on EV tax credits and see which models still qualify.
Below is a list of some of the best finance deals on EVs, PHEVs, and hybrid vehicles right now. Most are at 0% APR and include a sizeable cash back bonus.
#1 Deal: 2022 Hyundai Elantra Hybrid
Finance Deal: 2.79% APR for 60 months
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#2 Deal: 2022 Nissan Leaf
Finance Deal:Â 1.9% APR for 72 monthsÂ
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#3 Deal: 2022 Toyota Highlander Hybrid
Finance Deal:Â 1.75% APR for 48 months
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#4 Deal: 2022 Lexus ES Hybrid
Finance Deal: 3.49% APR for 60 months
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#5 Deal: 2022 Kia Niro Plug-in Hybrid
Finance Deal:Â 2.9% APR for 48 months
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Please check your email now and add us to your Contacts to ensure you don't miss any notifications.Year | Make | Model | Best Avail. APR | Length | Cash Bonus | Expiration |
---|---|---|---|---|---|---|
2022 | Hyundai | Elantra Hybrid | 2.79% | 60 months | 7/5/2022 | |
2022 | Nissan | Leaf | 1.90% | 72 months | 7/5/2022 | |
2022 | Toyota | Highlander Hybrid | 1.75% | 48 months | 7/5/2022 | |
2022 | Lexus | ES 300h | 3.49% | 60 months | 6/30/2022 | |
2022 | Kia | Niro Plug-In Hybrid | 2.90% | 48 months | 7/5/2022 |
Here is our top pick for the best finance deal on a fully electric vehicle (EV) for the month of June.
Top Pick: 2022 Nissan Leaf
Finance Deal: 1.9% APR for 72 months
Here is our top pick for the best finance deal on a plug-in electric vehicle (PHEV) for the month of June.
Top Pick: 2022 Kia Niro Plug-in Hybrid
Finance Deal: 2.9% APR for 48 months
Check Kia Niro Plug-in Hybrid Prices
Here is our top pick for the best finance deal on a hybrid vehicle (HEV) for the month of June.
Top Pick: 2022 Hyundai Elantra Hybrid
Finance Deal: 2.79% APR for 60 months
Check Hyundai Elantra Hybrid Prices
What to Consider Before Financing an EV
The first thing you must do is consider which type of EV you would like. Here are the different types of EVs:
Before buying an EV vehicle, consider the following features:
Tax credits are available to offset the cost of purchasing an EV. A federal EV tax credit allocates up to $7,500 for electric and plug-in hybrid vehicles purchased after 2010.
The federal tax credit is based on the capacity of the vehicle’s battery pack, not the cost of the vehicle. You claim the credit to reduce your federal tax liability on your income tax for the year you purchase the EV.
Many states also offer EV incentives, which can yield thousands of dollars in savings as well. Research the local incentives in your state to learn which purchases qualify and how to claim the incentives.
Read this post for more information about EV tax credits and for a full list of incentives by state and model.
Lower range EVs tend to be less expensive. The Nissan Leaf or Mini Copper SE are two of the cheapest EVs to buy.
It’s a great time to buy an EV. It’s becoming much easier to purchase an EV thanks to the additional installation of charging stations and more vehicle options. Additionally, incentives will be reduced or eliminated when EVs are more popular, so now is a great time to buy an EV and claim the incentives.
0% financing can save you a ton of money in interest throughout the course of your car loan. Ultimately, this can reduce the total cost of buying the vehicle.
It’s possible to get 0% APR on an EV or hybrid vehicle. Shop around for the best rates.
You can get up to a $7,500 federal tax credit depending on the vehicle’s battery capacity. There are also many state incentives available. Some utility companies also offer EV incentives like discounted rates, credits, or cashback.
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Posted in Car Buying Tips, Car Deals |
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