Best Electric Car Lease Deals [May 2023 Edition]

May 3, 2023

Best EV Lease DealsIf you've been considering an EV, now is a great time to lease one. Leasing an EV allows you to save on gas and help the environment while upgrading every few years.

Manufacturers will continue to add EV options and improve their features, so leasing is a smart option for tech-conscious car buyers looking for an EV. 

In this post, we share this month's top EV lease deals.

Looking for an affordable EV? Here’s our picks for the most affordable EVs to watch.

Best Electric & Hybrid Car Lease Deals

Below is a list of some of the best lease deals on EVs, PHEVs, and hybrid vehicles right now.

Nissan Leaf#1 Deal: 2023 Nissan Leaf

Lease Deal: $309/month for 36 months, $2,479 due at signing

>> Check Nissan Leaf Prices

Get Price Change Alerts
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Nissan Leaf - Price Drop Alerts
Want the best deal? Get notified when the market price changes for the Nissan Leaf so you can pounce when the price is right.
We'll also email you as soon as new car deals are published each month along with our best car buying tips to save you money!

 

2020 Toyota RAV4 Hybrid#2 Deal: 2023 Toyota RAV4 Hybrid

Lease Deal: $389/month for 36 months, $2,999 due at signing

>> Check Toyota RAV4 Hybrid Prices

Get Price Change Alerts
×
Toyota RAV4 Hybrid - Price Drop Alerts
Want the best deal? Get notified when the market price changes for the Toyota RAV4 Hybrid so you can pounce when the price is right.
We'll also email you as soon as new car deals are published each month along with our best car buying tips to save you money!

 

Honda Accord Hybrid#3 Deal: 2023 Honda Accord Hybrid

Lease Deal: $369/month for 36 months, $3,899 due at signing

>> Check Honda Accord Hybrid Prices

Get Price Change Alerts
×
Honda Honda Accord Hybrid - Price Drop Alerts
Want the best deal? Get notified when the market price changes for the Honda Honda Accord Hybrid so you can pounce when the price is right.
We'll also email you as soon as new car deals are published each month along with our best car buying tips to save you money!

 

Kia EV6#4 Deal: 2023 Kia EV6

Lease Deal: $499/month for 36 months, $4,999 due at signing

>> Check Kia EV6 Prices

Get Price Change Alerts
×
Kia EV6 - Price Drop Alerts
Want the best deal? Get notified when the market price changes for the Kia EV6 so you can pounce when the price is right.
We'll also email you as soon as new car deals are published each month along with our best car buying tips to save you money!

 

Chrysler Pacifica Hybrid#5 Deal: 2023 Chrysler Pacifica Hybrid

Lease Deal: $559/month for 39 months, $5,599 due at signing

>> Check Chrysler Pacifica Hybrid Prices

Get Price Change Alerts
×
Chrysler Pacifica Hybrid - Price Drop Alerts
Want the best deal? Get notified when the market price changes for the Chrysler Pacifica Hybrid so you can pounce when the price is right.
We'll also email you as soon as new car deals are published each month along with our best car buying tips to save you money!
YearMakeModelLease OffersExpirationCheck Prices
2023NissanLeaf$309/month for 36 months, $2,479 due at signing5/31/23Check Prices
2023ToyotaRAV4 Hybrid$389/month for 36 months, $2,999 due at signing5/31/23Check Prices
2023HondaAccord Hybrid$369/month for 36 months, $3,899 due at signing7/5/23Check Prices
2023KiaEV6$499/month for 36 months, $4,999 due at signing7/5/23Check Prices
2023Chrysler$559/month for 39 months, $5,599 due at signing5/31/235/1/23Check Prices

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.

Kia EV6Top Pick: 2023 Kia EV6
Lease Deal: $499/month for 36 months, $4,999 due at signing

>> Check Kia EV6 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.

2020 Toyota RAV4 HybridTop Pick: 2023 Toyota RAV4 Hybrid
Lease Deal: $389/month for 36 months, $2,999 due at signing

>> Check Toyota RAV4 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.

2022 Chrysler Pacifica HybridTop Pick: 2023 Chrysler Pacifica Hybrid
Lease Deal: $559/month for 39 months, $5,599 due at signing

>> Check Chrysler Pacifica 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.

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