The tighter federal tax credit for the Inflation Reduction Act (IRA) has a loophole that limits the rebates to $3,750 for vehicles made in North America and an additional $3,750 for domestic batteries. However, all EVs receive the full $7,500 when leasing. Thus, more people than ever before are leasing EVs.Â
Since last August, 50% more electric car models have been available for leasing for less than the average monthly lease cost of $400. Nine models now have factory offers that compete with low-cost ICE vehicle lease periods, like the Toyota Camry LE, Chevy Equinox LT, and Honda HR-V LX.Â
These are the top EVs available to lease:Â
- The VF8 Eco offers an attractive monthly lease cost, well below $300, with a 264-mile range and a 0-60 time of 6.5 seconds. The spacious cabin includes features like heated front seats and adaptive cruise control.
- The 2024 Nissan LEAF S leases for $249/month, $23 less than the 2023 model, with a 149-mile range and a 7.4-second 0-60 time.
- The Hyundai Ioniq 5, at $242/month, stands out as the best factory lease deal, offering 220 miles on a full charge and a 7.4-second 0-60 acceleration.
- The 2024 Ioniq 6 SE is available for just $249/month, featuring a remarkable 361-mile range and a 6.2-second 0-60 acceleration.
- The 2024 Kia Niro EV Wind leases at $239/month, presenting a $30/month saving compared to the 2023 model, with a 253-mile range and a 6.7-second 0-60 time.
- Lease the new-for-2024 Kona Electric SE for $259/month, offering a $10/month saving compared to the 2023 model. The base model has a 200-mile range and an 8.7-second 0-60 time.
- Mini’s Electric Hardtop is available for $279/month, $22 less than the 2023 model, with an 8.7 cubic feet cargo space and a 6.1-second 0-60 time.
- The VW ID.4 Standard, with over 30 cubic feet of cargo space, leases at $379/month for 36 months, providing a 209-mile range and a 7.6-second 0-60 time.
- The Solterra in Premium trim initially offered at $399/month, quickly sold out with a 222-mile range and a 6.5-second 0-60 time.Â
