With electric vehicle prices down, this summer may be the time to buy. Several brands are slashing lease prices as new EVs hit the market. New EVs like the Nissan Ariya are on a fire sale with lease prices under $200 per month this August. Check out all the EVs available to lease for under $200 below.
According to the latest Kelley Blue Book data, the average price paid for a new EV in the US was $56,371 in June, down 2.5% compared to last year.
Although EV prices are up from their lowest of $53,235 in March (mainly because of Tesla), lease prices continue falling.
Automakers are introducing massive discounts to compete in an increasingly competitive US EV market. Ford, GM, Hyundai, Kia, Rivian, Volkswagen, Honda, Toyota, and several others have all slashed lease EV prices this year.
With automakers upping the incentives, many EVs are cheaper to lease than their gas-powered counterparts.
For example, the 2024 Hyundai IONIQ 5 SEL (with up to 303 miles range) is cheaper to lease than the Venue, its most affordable SUV.
The Hyundai Venue is one of the most affordable SUVs in the US, starting under $20,000. The 2024 IONIQ 5 SEL starts at $47,400. However, the IONIQ 5 is still a better lease deal.
Hyundai’s IONIQ 5 is listed at $209 per month for 33 months. With $3,999 due at signing, the effective cost is $330 per month. The 2024 Hyundai Venue SE is listed at $229 per month for 36 months. With $34,99 due at signing, the effective cost is $326 per month.
However, at $240 per month and $3,500 due at signing, the SEL model has an effective rate of $337 per month.
EVs for lease for under $200 a month in August
If you’re looking for an even lower lease payment, several EVs are available for lease for under $200 a month.
According to online car research firm CarsDirect, electric SUVs for lease under $200 include the 2024 Kia Niro EV and Nissan Ariya.
The 2024 Kia Niro Wind is listed at $189 per month for 24 months, with $3,999 due at signing. Kia is also offering 0% APR for 60 months on the Niro EV. With better lease incentives, the EV model is a better deal than the hybrid.
Meanwhile, Nissan’s first electric SUV, the Ariya, has starting lease prices under $100 in some parts of the country. CarsDirect points out that 2024 Nissan ENGAGE FWD lease prices start at just $99 in Denver. However, the offer includes a state credit and a $1,000 loyalty discount.
The 2024 Nissan LEAF, the cheapest EV you can lease in the US, has an effective cost of just $179 a month in Colorado.
If you’re in the market for a new EV, it’s hard to pass up some of these offers. You can use our links below to view offers on some of the most affordable EVs available to lease in your area this August.