Renewable Roundup: Want to bring down the price of your EV? 80% are leased.

  • Published on May 12th, 2020

EVs have a lower Total Cost of Ownership (TCOE) than gas guzzlers. But so far, they have higher purchase prices. Leasing evens out the purchase price with lower maintenance and repair costs. There are also subscription deals for some electrics. Well-structured leases have other advantages.

Hyundai Ioniq Electric, the cheapest car to lease
Hyundai Ioniq Electric, the cheapest EV to lease

By Mokurai

The least-expensive electric car to lease this month costs less per day than a fast-food burger

While new-vehicle leasing currently accounts for around 30 percent of all transactions, that rate is much higher among electric cars. According to published reports, close to 80 percent of all EVs are leased.

In addition to the usual benefits of leasing, which include lower down payments and monthly outlays, leasing an electrified ride has additional advantages.

For starters, driving an EV for a two- or three- year term helps ensure you’ll keep up with the latest technology, particularly with regard to battery range. Three years ago most EVs could barely break the 100-mile mark, while for 2019 there are no fewer than eight models that can run for well over 200 miles, with the Tesla Model 3 and Model S able to run for more than 300 miles on a full charge. You’ll also be spared the hassle of trying to sell a model that may be hampered by a degraded battery five or more years down the road.

What’s more, the leasing entity (as the de facto “owner”) usually claims the $7,500 federal tax credit and applies it directly to the transaction price to reduce a lessee’s monthly payments. This can be a better deal than buying an EV outright and having to wait until the following year to claim the credit on your income tax return (and you’ll lose part of it if you wind up owing less than $7,500 in taxes).

Electric Vehicle Lease Guide – Best lease offers from dealers in the US

With links for 15 makes.

Jan 24, 2020 – If you’re considering an electric car, leasing may help protect you from risks involving the faster depreciation that can occur with electric …
Volkswagen e-Golf. The peppy performing e-Golf compact hatchback is leasing through the end of April for $249 a month for 39 months with $2,999 due at signing. Nissan Leaf. Hyundai Ioniq Electric. Fiat 500e. Kia Soul EV. Honda Clarity Electric. Smart EQ ForTwo.

The Best Electric Car Lease Deals Under $300 Per Month — MyEV

The vast majority of electric vehicles are being leased these days, and it’s a good way to minimize both the amount of money you’ll have to put down up front and …

Say What? $79–$178 Monthly Lease For An Electric Car — CleanTechnica

That’s for a 36 month lease with $999 down and a 10,000-mile annual limit. I could not even find a Hyundai Ioniq Electric in Tampa to test drive.

Is Leasing An Electric Vehicle The Best Option? – Forbes

Oct 31, 2019 – That is a question that many of us will ponder as more battery-powered vehicles appear in showrooms in the next few years. Most car buyers view vehicle ownership economics mainly through their monthly payment. However, the most important data point is the car’s worth when it’s traded in or, worse, when your insurance company totals the vehicle after an accident and awards you the depreciated value.

Why Leasing an Electric Car May Be Best – Consumer Reports

Jul 31, 2019 – For most American car shoppers interested in a pure electric vehicle, the technology can present a host of unfamiliar considerations.

At $79 a month, is this the best electric-car lease deal of 2019?

Nov 13, 2019 — You could land a lease deal on the 2019 Hyundai Ioniq Electric for just $79 a month for 36 months, with $999 due at signing and a 10,000-mile annual limit.

As a reality check, it figures out to about $107 a month—which may actually be less money than you’re paying out to streaming services. And that’s before the $50 reward card offered for a test drive.

The 2019 Ioniq Electric is rated at 124 miles of range on its 28 kwh battery pack, and it could save $4,750 over five years compared to the gasoline for the average new vehicle getting 27 mpg, according to the EPA. Adjusting to three years, those savings encompass most of the lease cost.

2019 IONIQ Electric — Hyundai

$109/mo
With $2,500 due at lease signing

Minus the trade-in — That’s less than we were paying for gas before the Saudi-Russian price war started!

So, best deal—for whom? Cheapest I have seen, definitely.

2019 Hyundai Ioniq Hybrid — Kelly Blue Book

Not as futuristic as the Toyota Prius, the 2019 Hyundai Ioniq offers hybrid efficiency in a sleekly styled hatchback that is reasonably priced and loaded with cool features. Toss in Hyundai’s 10-year/100,000-mile powertrain and lifetime battery coverage, and the Ioniq suddenly becomes a no-brainer.

Off-Lease

Aug 22, 2019 – It’s especially prevalent in the electric vehicle market, where reports suggest nearly 80 percent of all EVs are leased. Leasing an EV not only …

Cheap, well-maintained, limited miles driven. Lower range, however. In a few years electric cars with greater range will dominate the used-EV market, driving the prices on the short-range versions down much further.

1. 2016-2017 Nissan Leaf

Fair purchase price: $10,465/$13,334. Long a top seller, Nissan Leafs are relatively plentiful and affordable in the resale market.  Models from 2016 equipped with the standard 24 kWh battery pack can run for an estimated 84 miles on a charge. We suggest looking for 2016 SV and SL versions that came with a 30 kWh battery pack that garners a 107-mile range. It’s standard with 2017 models and affords a combined city/highway energy rating of 112 MPGe.

(Crossposted with DailyKos.)

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