The 10 Best Electric Car Leases Deals in 2023

Electric vehicles are becoming increasingly popular as more models become available and prices continue to drop. Leasing an electric car can be a great way to get behind the wheel of the latest EV technology without a huge upfront cost. As we move through 2023, more makes and models will hit the market, giving consumers even more options for short-term electric car leases.

How Leasing an Electric Vehicle Works

Leasing any car means you pay a monthly fee to essentially “rent” the vehicle for a contracted period of time, usually 24 to 36 months. At the end of the lease, you return the car instead of owning it. Leasing is appealing because it usually requires less money up front and lower monthly payments than purchasing.

Electric car leases work the same way as gas vehicle leases. You’ll make a small down payment, then make monthly payments based on the vehicle’s value and your contract terms. The major difference with an EV is you’ll also pay for the battery separately in states that allow it. At the end of the lease, you simply return the car.

Benefits of Leasing an Electric Car

Leasing is a particularly good option for electric cars for several reasons:

  • Lower upfront cost – EVs tend to be more expensive than gas cars. Leasing requires less money down and lower monthly payments.
  • Access to new technology – Electric vehicle technology changes rapidly. Leasing lets you drive the latest models as they come out.
  • Potential tax incentives – Some EV tax credits may apply to leased vehicles in certain states.
  • No battery replacement worries – If the battery needs replacement during the lease, it’s covered by the manufacturer.
  • Staying under mileage limits – EV range continues to improve. For many, a leased EV provides enough range for daily needs.

Best Electric Car Leases Deals in 2023

Now let’s look at the 10 best electric car lease deals available for 2023.

ModelStarting MSRPLease TermsRangeNotes
Tesla Model 3$46,990$399/mo358 miGreat tech; limited lease options
Chevy Bolt EV$31,995$229/mo259 miMost affordable overall
Nissan Leaf$28,495$239/mo149 miLow entry price and lease
Hyundai Kona$34,000$249/mo258 miLease discounts available
Polestar 2$49,800$549/mo270 miNew; great performance deal
VW ID.4$37,495$349/mo250 miLease incentives offered
Ford Mustang Mach-E$43,895$399/mo300 miFun electric Mustang SUV
Audi e-tron$65,900$749/mo218 miLuxury brand at lower cost
BMW i3$48,300$389/mo153 miLease provides affordable access
Fisker Ocean$37,499*Est. $379/mo250-300 mi*Upcoming model has tentative deal

1. Tesla Model 3

Tesla Model 3

The Tesla Model 3 is the company’s most affordable EV, with impressive driving range and technology. The 2023 standard range Model 3 starts at $46,990, but Tesla also offers an extremely competitive lease option.

Model 3 Lease Terms

  • $399 per month for 36 months
  • $3,000 down payment
  • 10,000 miles per year

Tesla doesn’t offer model year leases. You always get their latest technology. Currently, the Model 3 lease includes Tesla latest dual motor all wheel drive configuration and has a driving range of 358 miles. The Model 3 lease remains one of the best ways to get into a Tesla EV without paying the full purchase price.

2. Chevrolet Bolt EV

Chevrolet Bolt EV

The Chevrolet Bolt EV is one of the most affordable electric cars you can lease today. With a starting MSRP of $31,995, the Bolt offers an impressive 250+ mile driving range at a reasonable price point.

Bolt EV Lease Terms

  • $229 per month for 36 months
  • $2,639 due at signing (first month’s payment, startup fees, down payment)
  • 10,000 miles per year

The Bolt doesn’t have all the bells and whistles of a Tesla, but it’s a reliable electric commuter car with plenty of space and range. The lease terms make the Bolt very accessible for budget-minded shoppers who want a cheap way into an electric vehicle.

3. Nissan Leaf

Nissan Leaf

The 2023 Nissan Leaf starts at $28,495, and Nissan often offers attractive lease deals on this budget EV hatchback. The standard 2023 Leaf has a driving range of up to 149 miles.

Leaf Lease Terms

  • $239 per month for 36 months
  • $2,799 due at signing
  • 12,000 miles per year

While not as long as some newer EVs, the Leaf’s range is perfectly adequate for everyday commuting and errands. It’s a compelling lease option for the price-conscious shopper who wants to minimize EV costs.

4. Hyundai Kona Electric

Hyundai Kona Electric

The subcompact Hyundai Kona Electric crossover starts at $34,000 and offers 258 miles of range. Hyundai frequently offers lease specials on the Kona Electric, enhancing its affordability.

Kona Electric Lease Terms

  • $249 per month for 36 months
  • $1,999 due at signing
  • 10,000 miles per year

With available fast charging, the Kona Electric is ready for road trips. The lease terms make this fun little crossover very accessible for budget-minded buyers who value range and functionality.

5. Polestar 2

Polestar 2

Polestar is Volvo’s electric vehicle brand. The Polestar 2 fastback offers lively performance starting at $49,800. Polestar also offers an impressive lease deal.

Polestar 2 Lease Terms

  • $549 per month for 36 months
  • $3,500 down payment
  • 10,000 miles per year

The Polestar 2 lease includes the dual motor configuration with all-wheel drive, a range of 270 miles, Google built-in infotainment, and high-end fit and finish. For something luxurious and fun, the Polestar 2 lease is worth a close look.

6. Volkswagen ID.4

Volkswagen ID.4

The Volkswagen ID.4 compact electric SUV starts at $37,495 and offers pleasing performance and an attractive, modern interior. VW is promoting the ID.4 with tempting lease incentives.

ID.4 Lease Terms

  • $349 per month for 36 months
  • $3,679 due at signing
  • 10,000 miles per year

With available all-wheel drive, generous cargo room, and a 250-mile range, the ID.4 lease makes an EV SUV accessible for families and adventurers. The lease terms make it easy to get into VW’s exciting new electric crossover.

7. Ford Mustang Mach-E

Ford Mustang Mach-E

The iconic Mustang name applied to this exciting new electric SUV starting at $43,895. Beyond the thrilling performance, Ford offers enticing lease deals on the Mustang Mach-E.

Mustang Mach-E Lease Terms

  • $399 per month for 36 months
  • $3,543 due at signing
  • 10,000 miles per year

From its modern styling to high-tech interior, the Mach-E is a compelling EV. With ranges up to 300 miles, the Mach-E lease brings Mustang excitement and road trip range at an attainable price.

8. Audi e-tron

Audi e-tron

The Audi e-tron midsize electric SUV leases for $999 per month with Audi’s Premium Plus trim starting at $69,100. However, Audi offers an attractive lease deal on the base Prestige trim starting at $65,900.

Audi e-tron Lease Terms

  • $749 per month for 36 months
  • $5,000 down payment
  • 10,000 miles per year

With 218 miles of range and Audi’s sophisticated styling and technology, the e-tron lease is a chance to drive luxury electric for less. The lower Prestige payment makes this SUV tempting for eco-minded luxury shoppers.

9. BMW i3

BMW i3

The zippy BMW i3 hatchback starts at $48,300. It offers quick acceleration and fun handling with 153 miles of range, making it fantastic for urban commuting. BMW i3 leases start at reasonable prices.

BMW i3 Lease Terms

  • $389 per month for 36 months
  • $4,000 down payment
  • 10,000 miles per year

The i3 probably won’t meet all your road trip needs, but it’s an ideal electric city car. The lease terms provide affordable access to the innovative carbon fiber construction and upscale interior of the i3.

10. Fisker Ocean

Fisker Ocean

The upcoming Fisker Ocean SUV promises to start at just $37,499. Reservations are being taken now for 2023 delivery. In advance of its arrival, Fisker has shared tentative lease terms.

Fisker Ocean Estimated Lease Terms

  • Approximately $379 per month
  • $2,999 down payment
  • 10,000 miles per year

If the terms remain similar, the Ocean should be one of the most affordable electric SUV leases. Combine that with its estimated 250-300 mile range and sustainable interior materials, and this EV is poised to make leasing waves.

What to Consider Before Leasing an Electric Car

Leasing an EV comes with a few extra considerations beyond a typical auto lease:

  • Home charging – Make sure you can charge at home for the lowest operating costs.
  • Battery costs – Understand how the battery factors into lease payments.
  • Charging on the road – Consider public charging availability for longer trips.
  • Electric rates – Check electric plan rates to estimate charging expenses.
  • End of lease – Know the purchase option and condition return requirements.

Even with these factors, leasing an electric vehicle often saves money compared to buying in the long run. When paired with state and federal incentives in 2023, an electric car lease can be quite reasonable.

Pros and cons of leasing an electric car

Pros:

  • Lower upfront cost
  • Lower monthly payments
  • Access to new technology
  • Less financial risk.

Cons:

  • Never own the car
  • Responsible for some maintenance costs
  • Annual mileage limits
  • Wear and tear penalties

Conclusion

Electric vehicles are clearly the future of the automotive industry. As battery costs keep decreasing and ranges continue improving, consumer interest in EVs will only grow. Leasing an electric car is an appealing option for drivers who want the benefits of driving electric without the risks of ownership.

Automakers are eager to get more electric vehicles on the road and are using tempting lease deals to make that happen. The models highlighted here are just a sampling of the innovative EVs that will be available for lease in 2023. Whether your priority is being green, saving money, or simply driving the latest tech, there is likely a lease deal that fits your needs.

Test driving and comparing costs of multiple electric car leases is the best way to identify the perfect match. As more EVs enter the market, competition will heat up, bringing consumers even more chances to land their ideal affordable electric car lease.

FAQs About Electric Car Leases

What electric cars lease for under $300/month?

Some of the most affordable lease deals are on electric compact/subcompact cars like the Nissan Leaf, Chevy Bolt EV, and baseline Tesla Model 3. You may also find lease specials on new models.

Can I buy the electric car after the lease ends?

Most leases let you purchase the car after the term. There is usually a pre-set purchase price written into the original lease contract. Buying can be a good deal if you got a low lease rate and the car has retained value.

Do electric car leases include maintenance?

Leases typically cover only basic manufacturer maintenance like oil changes and tire rotations. You’ll pay for any repairs and likely replace items like wipers and brakes at your own cost. Always clarify the maintenance terms.

How do mileage limits work with an electric car lease?

EV leases have mileage caps just like gas car leases, usually 10k-15k miles per year. Going over can trigger excess mileage fees. However, EVs need less maintenance, so staying under your mileage isn’t as difficult.

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