Who said you had to break the bank to drive an electric vehicle? Several EV lease deals are available this December for under $200 per month, but the savings may not last long. Here are some of the best EVs to consider leasing this month.
Electric vehicles accounted for nearly 9% of all vehicle sales in the US in the third quarter, its highest level on record.
“The growth is being fueled in part by incentives and discounts,” According to Stephanie Valdez Streaty, director of Industry Insights at Cox Automotive. The other part is the influx of more affordable models hitting the market.
In addition to the $7,500 federal tax credit, some discounts on EV models are reaching $10,000 to upwards of $20,000.
The massive incentives are slashing monthly payment prices, making many EV models on par or even more affordable than comparable gas-powered cars. According to a new Experian report, leasing accounted for 45% of all new EV transactions in the third quarter. That’s up significantly from 25% last year and just 9.5% in Q3 2022.
Including incentives, the average monthly payment for leasing an EV was $198 less than if you financed a new model.
With Trump’s transition team reportedly planning to “kill off” the $7,500 EV tax credit, the savings could largely disappear. As buyers rush to take advantage of the discounts, EV sales are expected to surge this month.
EV lease deals for under $200 a month this December
To close out the year strong and make room for new models, several companies are offering significant discounts on popular electric models, including Kia, Hyundai, Honda, GM, Ford, Stellantis, and more.
According to online automotive research company CarsDirect, several EV models are even available to lease for under $200 per month in December.
| Lease From | Term (months) |
Due at Signing | Effective rate per month (including upfront fees) |
|
| 2024 Kia Niro EV | $149 | 24 | $3,999 | $315 |
| 2024 Kia EV6 | $159 | 24 | $3,849 | $319 |
| 2024 Hyundai IONIQ 5 | $189 | 36 | $3,999 | $355 |
| 2024 Nissan Ariya | $169 | 24 | $6,219 | $428 |
| 2024 Fiat 500e | $179 | 42 | $2,999 | $250 |
| 2024 Honda Prologue | $259 | 36 | $2,999 | $342 |
| 2024 Chevrolet Equinox EV | $299 | 24 | $3,169 | $431 |
The 2024 Kia Niro EV remains one of the most affordable electric cars on the market, with leases starting at as low as $149 for 24 months. With $3,999 due at signing, the effective rate is just $315 per month. That’s even cheaper than the plug-in hybrid model at $414 per month (including $3,499 due at signing).
Kia also offers a $199 per month for 36 months EV lease deal. With $3,999 due at signing, the effective cost is just $310 per month.
The EV6, Kia’s dedicated EV based on the same platform as Hyundai’s IONIQ 5, is listed with lease prices as low as $159 for 24 months. With $3,849 due at signing, the 2024 Kia EV6 Light Long Range RWD trim costs just $319 per month to lease.
Speaking of the IONIQ 5, Hyundai’s electric SUV is also available to lease this month for under $200. Through its “Hyundai Getaway Sales Event,” Hyundai is offering a $189 per month for 36-month lease offer on the IONIQ 5.
The 2024 Hyundai IONIQ 5 SE is $355 per month, with $3,999 due at signing. Hyundai’s big savings come as the upgraded 2025 model is arriving at dealers.
Nissan’s Ariya electric SUV is another top choice, with lease prices starting at as low as $99 per month. However, that’s only available in Colorado. In other parts of the country, like New York, the 2024 Nissan Ariya is listed at $169 for 24 months. With $6,219 upfront, the effective rate is $428 per month.
Fiat’s compact 500e EV is available to lease for $179 for 42 months this December. With $2,999 due at signing, you can lease the 2024 500e INSPI(RED) trim for just $250 per month.
Although not under $200, you may want to consider a few other EV lease deals this month. For example, Honda is offering its electric Prologue at just $259 per month for 36 months. With $2,999 due upfront, you can drive off in Honda’s electric SUV for just $342 per month. That’s less than a Honda Civic at $279 per month despite costing nearly twice as much.
At just $299 for 24 months, the 2024 Chevy Equinox EV is also worth a look. With $3,169 due at signing, you can lease the electric Equinox for just $431 per month.
Ready to take advantage of the savings? We can help you find the best EV lease deals in your area. Check out our links below to view offers on popular electric models in your area.
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