Interested electric vehicle buyers may find January 2023 as the most ideal month to purchase their coveted model as automakers continue to reduce prices and improve lease and finance deal offers.
As per report, nearly all leasing and financing deals their team encountered this month are “the same as or better than last month’s” so far. Without further ado, here are the best lease and finance deals for electric vehicles, including battery electrics and plug-in hybrids.
List of best EV offers
| Models | Monthly Lease Charges | # Months | Signing Amount | Other bonuses, APR and cash back |
| 2024 Alfa Romeo Tonale Plug-In Hybrid | $399 | 27 | $5,275 | $1,000 cash allowance |
| 2024 BMW i4 | $499 | 36 | $4,599 | 3.99% APR for 60 months |
| 2024 BMW i5 | $749 | 36 | $6,649 | 2.99% APR for 60 months |
| 2024 BMW i7 | $1,069 | 36 | $7,799 | 1.99% APR for 60 months |
| 2023 BMW iX | $799 | 36 | $6,439 due | 2.99% APR for 60 months |
| 2024 Cadillac Lyriq | – | – | – | $1,000 Costco Auto incentive $7,500 GM-applied credit |
| 2023 Chrysler Pacifica Plug-In Hybrid | $529 | 39 | $4,999 | 0% APR for 60 months $3,000 cash back |
| 2024 Dodge Hornet R/T Plug-In Hybrid | $359 | 36 | $4,999 | – |
| 2023 Ford F-150 Lightning | $614 | 48 | $5,813 | |
| 2023 Ford Mustang Mach-E | $336 | 36 | $4,816 | $3,000 cash back for GT models |
| 2023 Genesis G80 Electrified | $899 | 36 | $5,999 | 3.49% APR for up to 72 months $1,000 cash back |
| 2024 Genesis Electrified GV70 | $599 | 36 | $5,999 | 5.49% APR for up to 60 months |
| 2024 Kia EV6 | $399 | 24 or 36 | $4,999 | 0.90% APR for up to 48 months $3,750 cash back |
| 2023 Kia EV6 | $379 | 24 or 36 | $4,999 | 0.90% APR for up to 48 months $7,500 cash back |
| 2024 Kia EV9 | $599 | 24 or 36 | $5,999 | 3.25% APR for up to 48 months |
| 2024 Kia Niro EV | $269 | 36 | $4,499 | 1.90% APR for up to 48 months $2,500 cash back |
| 2023 Kia Niro EV | $249 | 36 | $4,499 | 0.90% APR for up to 48 months $3,750 cash back |
| 2024 Kia Niro Plug-In Hybrid | $409 | 36 | $3,799 | – |
| 2024 Kia Sportage Plug-In Hybrid | $509 | 24 or 36 | $3,699 | – |
| 2023 Kia Sportage Plug-In Hybrid | $489 | 24 or 36 | $3,699 | – |
| 2024 Kia Sorento Plug-In Hybrid | $579 | 24 or 36 | $3,999 | – |
| 2023 Kia Sorento Plug-In Hybrid | $549 | 24 or 36 | $3,999 | – |
| 2024 Jeep Wrangler 4xe Plug-In Hybrid | $469 | 36 | $4,499 | $2,000 cash back |
| 2024 Jeep Grand Cherokee 4xe Plug-In Hybrid | $479 | 39 | $5,999 | 3.9% APR for 36 months $1,000 cash back |
| 2023 Lexus RZ450e | $499 | 36 | $5,999 | 0.90% APR for up to 48 months |
| 2024 Lucid Air | $749 | 36 | $8,499 | 5.99% APR for up to 72 months $7,500 cash back No charge for Surreal Sound Pro and Pro Driver Assistance |
| 2024 Mazda CX-90 PHEV | $465 | 36 | $3,999 | |
| 2024 Mini Cooper SE | $239 | 36 | $3,539 | 2.99% APR for 36 months |
| 2023 Nissan Ariya | $369 | 36 | $4,139 | 2.90% APR for up to 36 months $1,000 cash back $3,750 additional cash if financed through Nissan |
| 2024 Nissan LEAF | $289 | 36 | $2,669 | 2.29% APR for up to 36 months |
| 2024 Polestar 2 | $349 | 27 | $5,349 | 6.99% APR for up to 72 months $1,000 cash back |
| 2024 Polestar 3 | $995 | 36 | $6,995 | 6.49% APR for up to 72 months |
| 2023 Subaru Solterra | $399 | 36 | $399 | 0% APR for 72 months |
| 2023 Tesla Model 3 | $472 $294 (Inventory models) | 36 24 | $0 $3,444 | 6.69% APR for up to 72 months |
| 2023 Tesla Model Y | $533 $398 (Long Range inventory models) | 36 24 | $0 $4,500 | 6.59% APR for up to 72 months |
| 2023 Tesla Model S | $1,099 | 36 | $7,500 | 6.59% APR for up to 72 months |
| 2023 Tesla Model X | $1,249 | 36 | $7,500 | 6.59% APR for up to 72 months |
| 2023 Toyota bZ4x | $369 | 36 | $2,999 | 1.99% APR for 72 months |
| 2024 Toyota RAV4 Prime | $781 | 36 | $3,431 | – |
| 2023 VinFast VF8 | $399 | 24 | $4,594 | – |
| 2023 Volkswagen ID.4 | – | – | – | 3.90% APR for 60 months |
| 2023 Volvo C40 Recharge | $483 | 36 | $3,933 | $1,000 cash back |
| 2023 Volvo S60 Recharge | $595 | 36 | $3,969 | $1,000 cash back |
| 2023 Volvo S90 Recharge | $1,009 | 36 | $4,285 | $1,000 cash back |
| 2023 Volvo V60 Recharge Polestar Engineered | $949 | 36 | $4,249 | $1,000 cash back |
| 2023 Volvo XC40 Recharge | $565 | 36 | $4,015 | $1,000 cash back |
| 2023 Volvo XC60 Recharge | $769 | 36 | $4,489 | $1,000 cash back |
| 2023 Volvo XC90 Recharge | $905 | 36 | $5,275 | $1,000 cash back |
The lease and finance deals listed above are not accessible in all markets. Therefore, it would be better for interested buyers to check local dealers first for more accurate details.
Advantage of leasing
Opting to lease an electric vehicle would enable customers to take advantage of the Inflation Reduction Act’s federal tax credits, regardless of their qualifications.
For context, the process will transfer the tax credits to the lender or dealership. Then, they will apply the equivalent amount against the lease to create a discount for the customer.
However, not all dealerships are willing to directly offer lease incentives to EV buyers. That said, it is important for buyers to know about the leasing loophole to negotiate down payments and lease terms.
Reminders
It is ideal for first-time electric vehicle buyers to research more about the models and potential additional incentives in some regions or dealerships to maximize savings. In fact, several brands still have deferred payment offers.
In addition, used or second-hand EVs also offer enticing deals with substantial price declines. Customers can also benefit from the new $4,000 federal tax credit for eligible used EV models, as noted in the report.
