Top-5 Electric Car Lease Deals for November
|Rank||Model||PMT||DOWN||MSRP||TERM||TOTAL COST||AVG||LVR||1st||DUE||# PMTS|
|1||2017 Kia Soul EV +||$199.00||$1,800.00||$36,845.00||36||$8,964.00||$249.00||0.68%||$199.00||$1,999.00||36|
|5||2017 Ford Focus Electric||$159.00||$0.00||$29,995.00||36||$7,473.00||$207.58||0.69%||$159.00||$1,749.00||36|
|2||2017 BMW i3||$279.00||$3,915.00||$50,995.00||36||$14,319.00||$397.75||0.78%||$289.00||$4,204.00||36|
|3||2017 Nissan Leaf||$229.00||$1,770.00||$31,565.00||36||$10,014.00||$278.17||0.88%||$229.00||$1,999.00||36|
|4||2018 Chevy Volt||$289.00||$1,432.00||$34,095.00||39||$12,703.00||$325.72||0.96%||$289.00||$1,721.00||39|
|6||2017 Toyota Prius Two||$269.00||$1,710.00||$25,775.00||36||$12,114.00||$336.50||1.31%||$289.00||$1,999.00||36|
Why Electric Car Leases Rate so Well
– What’s the Catch?
Electric car leasing is an interesting, if not excellent way to drive a fuel-efficient, reliable new car every 3 years. When you look at the line up of these top-5 electric car lease deals you might immediately be thinking these are the best lease deals known to men. The LVR’s range from 0.68% for the Kia Soul EV to a mere 1.16% for the Toyota Prius II. Before you get too excited it is important to keep in mind that the MSRP value of electric cars is not an apples-to-apples comparison of the MSRPs of non-electric cars. The prices of electric cars are much higher due to electric technology and expensive batteries to run them. Is a Nissan Leaf at $31,565.00 really as nice a car as say a Nissan Maxima or Acura TLX? Both have similar average car payments. That is where the similarities end. The Acura and Nissan are bigger, more comfortable, faster, more powerful, and luxurious. On the other hand, the Soul EV and Nissan Leaf will save you a ton of money in fuel costs over the course of the 24-48 month lease. You might then ask why are the lease rates so good on these electric cars? The answer is the same as what makes a subvented lease deal so good: It”s the incentive or rebate. Federal and state governments offer huge rebates of up to $7,500 dollars to offset the additional cost of driving an electric car. If these cars were really worth their listed price, would the government have to offer such huge rebates to get people to buy them? On the other hand, lease electric cars is a sensible thing to do if you like the car and would like to save some money at the pump. I don’t think I would prefer driving the Kia Soul over something like an Accord, Maxima, or ILX, but then when you figure the monthly cost of gas into the equation, the net monthly payment is about as good as your going to get with any car.
As electric cars continue to innovate there will be fewer government incentives to buy them. The flip-side is the cost of electric cars will go down considerably as battery and technology costs are driven downward by demand. Electric car lease deals will only get better.
Focus and BMW all have improved leases for November
Of the five electric cars, the Soul still wins with an 0.68% Lease Value Ration. The 2017 Focus, however, is right there at 0.69%. Remember, these electric cars have extremely high MSRP’s which greatly affect the lease value. In lieu of the huge government rebates, 1.00% is still less than average for an electric car. Only the Kia Soul EV at 0.68% represents what an electric car lease can truly be. Of course, you do have to figure into the net cost your gas savings too!