December EV Lease Deals: Drive Electric for Under $200 a Month

As electric vehicles (EVs) gain popularity, drivers are discovering affordable leasing options this December with monthly payments under $200. However, these deals might not be here to stay. Let’s explore some of the standout EV leasing opportunities available this month.

In the US, electric cars captured nearly 9% of the vehicle sales market in the third quarter, marking a record high.

“The growth is being fueled in part by incentives and discounts,” says Stephanie Valdez Streaty, director of Industry Insights at Cox Automotive. Additionally, an increase in more affordable models is contributing to this surge.

Buyers are benefiting from substantial discounts, with some EV models offering incentives up to $20,000, alongside the $7,500 federal tax credit.

These incentives are effectively reducing monthly payments, making EVs competitive with or even cheaper than gas-powered vehicles. A recent Experian report highlights that leasing accounted for 45% of new EV transactions in the third quarter, a significant increase from previous years.

Incorporating these incentives, the average leasing cost for an EV is $198 less per month than purchasing a new one.

However, the future of these incentives is uncertain. Trump’s transition team plans to end the $7,500 EV tax credit, which could eliminate many of the current savings. This uncertainty is prompting buyers to act quickly, potentially driving EV sales up this month.

EV Lease Deals for Under $200 a Month This December

To make space for new models, several manufacturers, such as Kia, Hyundai, Honda, GM, Ford, and Stellantis, are offering significant discounts on their electric vehicles.

As per CarsDirect, several EVs can be leased for less than $200 in December.

The 2024 Kia Niro EV stands out as one of the cheapest electric cars, with leasing options starting at $149 for 24 months. With an upfront payment of $3,999, the monthly cost averages $315, which is cheaper than the plug-in hybrid variant.

Kia’s EV6, built on the same platform as Hyundai’s IONIQ 5, can be leased for $159 per month for 24 months. With $3,849 due at signing, the effective monthly cost is $319.

Hyundai also offers the IONIQ 5 at a competitive rate. Through its “Hyundai Getaway Sales Event,” the lease is available at $189 per month for 36 months.

Nissan’s Ariya EV is also an attractive option, particularly in Colorado, where lease prices start at $99 per month. Elsewhere, such as New York, it is available at $169 per month with $6,219 due upfront.

The 2024 Fiat 500e is another budget-friendly choice, leasing for $179 per month over 42 months, with $2,999 due at signing.

While some options exceed the $200 mark, they remain competitive. For instance, Honda’s Prologue can be leased for $259 per month over 36 months, with $2,999 upfront, making it cheaper than a Honda Civic lease.

Chevrolet’s Equinox EV also presents a viable option, with leases starting at $299 per month for 24 months, requiring $3,169 at signing.

Explore the best EV leasing deals available in your region by following the links below.