The past few months have certainly been an exciting season of electric vehicle announcements, reveals, introductions, and the like. With so much enthusiasm and salivating over new models and updates, do any of the currently available EVs have a chance at winning your hard-earned dollars before fresh choices start to appear in a matter of months? Before you answer, read on for some of the best deals discovered during this month’s search for electric vehicle lease deals and discounts, designed to distract buyers from what lies ahead and focus their attention to what is here and now.
Chevrolet has drastically cut the cost of Bolt EV leases and resurrected the $3,000 Costco member-only incentive. Based on manufacturer incentives alone, the best deal is in the San Francisco/San Jose area, where residents currently leasing a 2016 or newer non-GM vehicle can pick up a 2020 Bolt EV for an effective cost of $171/month before tax and license on a three-year lease. Costco members in the area can factor in a $3,000 member-only incentive to drop that cost down to about $110/month. Southern California residents can get a similar deal, but should expect to pay about $20/month more. Residents in the northeast and DC areas can expect to pay about $40 more. As for the rest of the country, Chevy is showing a nationwide lease offer on the 2021 Bolt EV with an effective cost of $259/month. The $3,000 Costco incentive should drive that cost south of $200/month.
Again, that’s based on Chevrolet incentives alone. After finding huge dealer discounts at the start of the month, we expected some ridiculous Bolt EV lease deals to surface by mid-March that combine deep dealer discounts with these great Chevy lease incentives. Best that we’ve found is from Stewart Chevrolet in the San Francisco area, at just $19.95/month, $1,995 down plus tax, license, and $650 acquisition fee to start for Costco members that are current GM lessees. That’s an effective cost of $93/month plus tax and license! Check our monthly survey of EV lease offers for other dealers that come close to this Stewart Chevrolet bargain.
What if you’re not a Costco member that just happens to lease a non-GM vehicle? Fear not, for we’ve found over a dozen Chevy dealers across the nation advertising discounts of $4,000 or more on 2020 and 2021 Bolt EVs, not including any factory incentives. Cranking through the math, a $100-$150/month lease on a new Bolt EV could be achieved with a little bit of homework and negotiation. Check for great deals on a Chevrolet Bolt EV at a dealer near you.
Costco members can also take advantage of a $2,000 member-only incentive on the Audi e-tron. And like Chevrolet, Audi has taken an axe to its lease terms on their pure electric vehicle. Best manufacturer lease offer is for residents in the DC area, where the regional three-year lease offer has an effective cost of $590/month before tax and license. Applying the Costco incentive should drop that cost to $535/month, on par with the off-menu Tesla Model Y Standard Range and less than a Polestar 2, Volvo XC40 Recharge Pure Electric, or all-wheel-drive Mustang Mach-E Premium. Texas residents can take advantage of the same factory lease terms, but other areas we checked through the Audi website cost $60 to $100/month more.
Don’t live near DC or in Texas? We found a handful of Audi dealers across the nation that boast lease offers with an effective cost that’s less than $600/month. Audi Santa Monica tops that list with a lease deal that’s only $538/month before tax and license, followed by Audi Fort Wayne with a deal that effectively costs $555/month. We also found several Audi dealers – Audi Nashville, Audi Appleton, Audi Dayton, and Audi Bellevue – that are listing significant discounts of $6,500 or more that should translate into attractive lease terms. Find Audi e-tron deals in your area.
Hyundai Kona Electric
With potential buyers looking forward to the release of the Ioniq 5 and (perhaps to a much lesser extent) the refreshed 2022 Kona Electric, it stands to reason that Hyundai may have a problem moving their 2020 and 2021 Kona Electric inventory. Their apparent solution? Cut the nationwide factory lease offer on a 2020 Kona Electric to just $999 down, $199/month for an effective cost of $221/month before tax and license. They also cut the effective lease cost for a 2021 model, now at $249/month, which is 10 bucks cheaper than Chevy’s national lease offer on a 2021 Chevrolet Bolt.
We did find a few dealers that beat the factory lease offers: Glendale Hyundai in the Los Angeles area has a 2020 model in EX trim for an effective cost of $215/month, Mirak Hyundai in Massachusetts has a 2020 model in Limited trim for $236/month, and Manly Hyundai in the San Francisco area has a 2021 Limited for $272/month, all before tax and license. As far as discounts, we found a half dozen Hyundai dealers with significant discounts from MSRP that can be used to negotiate a great lease deal. Look for Hyundai Kona Electric deals near you.
Kia Niro EV
Despite recent improvements, lease deals on a Niro EV aren’t that great – the effective cost of their factory lease offer is still close to $300/month, and there are a few dealers with offers that dip below $200/month before tax and license. However, we are seeing some great discounts from a half dozen dealers across the nation. Topping the list is Glendale Kia in Los Angeles at almost $12,000 off MSRP, followed by nearby dealer Van Nuys Kia at $9,400 off MSRP and Koons Kia in Woodbridge, Virginia, at $9,125 off MSRP. Check for Kia Niro EV discounts at a local dealership.
Okay, so maybe this isn’t a killer deal, but I thought it might be worth mentioning that the factory lease offer on a Polestar 2 has dropped twice since we’ve been tracking it, now down to $549/month, $4,000 at signing, plus tax and license. That’s $50/month less than it was in February, and $100 less than what was first published on Polestar’s website last October. Something to keep an eye on as more competitors hit the market. Check Polestar 2 availability in your area.
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