Best Electric & Hybrid Car Lease Deals [May 2024 Edition]

Best EV & Hybrid Lease Deals

In our search for the best lease deals on electric vehicles (EVs), hybrids, and plug-in hybrids, we meticulously explored each car brand's official website.

We focused on finding lease offers with the lowest monthly payments and smallest initial payments, particularly compared to the MSRP.

We are determined to help you find outstanding value and achieve savings on your next lease for an EV, hybrid, or plug-in hybrid car.

#1 Deal: 2024 Subaru Solterra

Lease Deal: $329/month for 36 months, $329 due at signing

>> Check Subaru Solterra Prices <<


 

#2 Deal: 2024 Honda CR-V Hybrid

Lease Deal: $359/month for 36 months, $3,699 due at signing

>> Check Honda CR-V Hybrid Prices <<


 

#3 Deal: 2024 Hyundai Ioniq 6

Lease Deal: $189/month for 24months, $1,999 due at signing

>> Check Hyundai Ioniq 6 Prices <<


 

#4 Deal: 2024 Kia Sorento Plug-in Hybrid

Lease Deal: $419/month for 36 months, $3,499 due at signing

>> Check Kia Sorento Plug-in Hybrid Prices <<


 

YearMakeModelLease OffersExpirationCheck Prices
2024SubaruSolterra$329/month for 36 months, $329 due at signing5/31/24Check Prices
2024HondaCR-V Hybrid$359/month for 36 months, $3,699 due at signing7/8/24Check Prices
2024HyundaiIoniq 6$189/month for 24months, $1,999 due at signing6/3/24Check Prices
2024KiaSorento Plug-in Hybrid$419/month for 36 months, $3,499 due at signing7/8/24Check Prices
How We Rank & Evaluate EV & Hybrid Lease Deals

Each month, we diligently search for the best lease deals on electric vehicles (EVs), hybrids, and plug-in hybrids from all major manufacturers, obtaining our information directly from them.

To rank these eco-friendly car lease deals, we first calculate the lease value ratio. We aim for lower ratios, which mean better value, by dividing the monthly payment by the car's market value.

We also consider the lease term, favoring shorter terms for more flexibility, even if it results in higher monthly payments.

Furthermore, we focus on the down payment, seeking deals with low or no initial payment to reduce the total lease costs.

Additionally, we calculate the total cost of the lease for a precise comparison of the deals. Finally, we include any special offers and incentives from manufacturers, like reduced interest rates or discounts, which can greatly enhance the lease's value.

Best Electric Car Lease Deal

Here is our top pick for the best lease deal on a fully electric vehicle (EV) for the month of May.
 

Top Pick: 2024 Subaru Solterra

Lease Deal: $329/month for 36 months, $329 due at signing

>> Check Subaru Solterra Prices <<

 


Best Hybrid Car Lease Deal

Here is our top pick for the best lease deal on a hybrid vehicle (HEV) for the month of May.
 

Top Pick: 2024 Honda CR-V Hybrid

Lease Deal: $359/month for 36 months, $3,699 due at signing

>> Check Honda CR-V Hybrid Prices <<

 


Best Plug-in Hybrid Lease Deal

Here is our top pick for the best lease deal on a plug-in electric vehicle (PHEV) for the month of May.

Top Pick: 2024 Kia Sorento Plug-in Hybrid

Lease Deal: $419/month for 36 months, $3,499 due at signing

>> Check Kia Sorento Plug-in Hybrid Prices <<

 


Considerations When Leasing an EV
  • Range Limits. Rather than getting “miles per gallon” electric vehicles have a range of miles they can drive on a full charge. Evaluate your driving patterns and needs to ensure you get an EV that suits your lifestyle.
  • Charging Point. Consider where and how you can charge your EV. If you are just leasing, it may not be worth paying for the installation of a special outlet. Are there charging stations nearby or along your typical routes?
  • Comfort. Ensure the EV is ergonomic and comfortable to drive in. Check for the ability to adjust the seats and steering wheel.
  • Tech Features. Modern EVs often come equipped with the latest and greatest tech features. Look for an EV with the safety and tech features that are most important to you.

Types of Electric Vehicles

  • BEV. Battery Electric Vehicles only run on electricity. Very few, like the BMW i3, may have an optional gasoline-powered generator. The battery must be charged with an outlet or charging station.
  • PHEV. A Plug-in Hybrid Vehicle is powered by electricity and gas. However, it can be plugged into a charging station to recharge the battery. They often have the capability to run on the battery power alone, just gas, or a combination of both.
  • HEV. A Hybrid Electric Vehicle uses an electric motor to assist the combustion engine. The HEV will use electricity during acceleration or under light load. The car replenishes the battery through regenerative braking.

 

Should I Lease or Buy an EV?

Reasons for Leasing an EV

  • EVs have unique considerations.
  • Turn in the vehicle at the end of the lease for an upgrade. For many EV drivers, this is an appealing opportunity to get ahold of newer technology every few years.
  • Lower monthly payments.
  • EVs depreciate faster than other cars, so leasing may prevent you from being upside down in a loan.

Reasons for Buying an EV

  • More options to buy a used EV than lease one.
  • Ability to claim significant federal and state tax credits.
  • Makes more sense financially if you plan to keep the vehicle for many years.
  • Good chance of securing a 0% APR loan, which may make buying more cost-effective.

Frequently Asked Questions

What is the most affordable EV I can lease?

There are many affordable EVs available for lease. Some of the cheapest EV cars you can lease are the Smart EQ for Two, Honda Clarity Electric, Kia Soul EV, and Fiat 500e.

Is it cheaper to buy or lease an EV?

Whether you should lease or buy an EV depends on the particular model and your intentions. If you plan to drive the car for more than a few years, buying allows you to take advantage of the tax credits. However, leasing often has less expensive monthly payments.

Can I still get the tax credit when leasing an EV?

Typically, the person leasing the vehicle is not eligible for federal or state tax credits. You may be able to get some incentives from your utility company for charging the vehicle.

Can you negotiate an EV lease?

Yes! You can and should negotiate an EV lease to ensure you get the best deal possible. Shop around and compare leasing options before negotiating with a dealer.

Are EVs worth the extra money?

While EVs cost more upfront, they often save drivers money on gas. For those who drive a lot, leasing an EV may be better economically. Additionally, BEVs do not have any emissions, which makes them more environmentally friendly and sustainable.