Best Electric Car Lease Deals [November 2023 Edition]

https://www.findthebestcarprice.com/author-steve

Steve Birkett

Steve Birkett

Steve Birkett is an electric vehicle advocate based in Greater Boston, Massachusetts. He is a content creator and marketing professional who contributes written and recorded pieces to a wide range of media outlets. His analysis has been featured in Find The Best Car Price, WWLP TV, and Torque News, among others. He has also had video content featured on Inside EVs. Birkett was an EV Guide for Plug in America events in Massachusetts (Drive Electric Cambridge and Drive Electric Lowell) and Ohio (Earth Day 2019 at Cleveland Zoo). He participates in quarterly advisory panel meetings for EVolve New York (a state-level charging initiative) and has contributed to focus groups for prominent U.S. charging networks.

Birkett is a father-of-two who loves nothing more than packing up the family and hitting the road in their latest electric car, which is currently a 2022 Hyundai IONIQ 5. With multiple Chevy Bolts in his past, as well as a Chevy Volt and Tesla Model 3 LR in the extended family, plus various EV rentals when he ventures back home to his native United Kingdom, Birkett has more than 100,000 all-electric miles under his belt and is always ready to try out a new electric vehicle.

For press inquiries, contact steve@findthebestcarprice.com

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If 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.

How We Collect & Rank Lease Deals

At the start of each month, we meticulously search for deals from all major manufacturers, sourcing them directly.

We determine our top picks by calculating the total lease cost and factoring in the MSRP. We also consider historical data, highlighting models that haven’t seen deals recently when they emerge with new offers.

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.

• 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.