Every Electric Car Lease Deal in May 2024

by CarGurus Editorial Team

As electric cars gain in popularity, thanks to their lower running costs and lower emissions, finding a lease deal this month may be easier than you imagine. While some car shoppers remain on the fence about whether an EV is right for them, the tips and advice that apply to electric car leases is largely the same as any type of vehicle.

Factors like annual mileage limits, acceptable levels of wear and tear, and the duration of the lease applies equally to EVs. There are some important differences, however, and this list of electric car lease deals is a valuable means of understanding the process and how to land the best offer for your budget.

Updated on a monthly basis, this guide provides much more than which EV lease deals are currently available. You’ll also discover smart ways to save money and better understand the pros and cons of leasing.

Every Electric Car Lease Deal in May 2024

2024 Kia EV9 review summary

Pros and Cons of Leasing an Electric Car

With a greater variety of electric cars there is a growing number of lease deals available at any given time. These can apply to small hatchbacks like the Nissan Leaf and Hyundai Kona EV, and upward to more luxurious and powerful electric SUVs like the Tesla Model Y, Ford Mustang Mach-E, or Hyundai Ioniq 5.

The increasing choices offered in the EV market make it more likely there’s one that fits a car shopper’s specific demands.

Similar to leasing any gas or diesel-powered car or truck, there are advantages and disadvantages to consider when shopping for an electric car lease. To start with the positives, leasing is a savvy way to get a little more car for your money. This is because the car shopper is largely paying for the depreciation of the vehicle during the duration of the lease, and not the full price of the vehicle itself. This keeps your monthly payment lower, which is always nice.

Since EVs are particularly popular with many people who’d consider themselves early adopters of new technology, a lease plays nicely into having the latest features and most modern updates. Over-the-air software updates are available on many EVs too. This could unlock extra features – such as improved safety systems or better range – over the course of the lease.

What are some pitfalls to leasing an electric car? As with any lease, there are fixed annual mileage limits. If exceeded, the EV lessee might have to pay a significant amount of money in penalties at the conclusion of the deal. The same holds true for any wear and tear that might be deemed more than acceptable once the lease ends.

Electric Car Lease Trends

As we’ve mentioned, simply having more EVs coming to market every model year is a big advantage when it comes to cross-shopping leases applicable to them. With the lessening effects of pandemic-related vehicle shortages and problems related to microchip supply chains, there are more electric cars on dealer lots waiting for interested customers to hop behind the wheel.

2022 Mercedes-Benz EQB review summary

Every Electric Car Lease Deal This Month

2023 Mercedes-Benz EQB
Lease monthly payment: $499.00
Duration of lease: 36 months
Money down required for lease: $5,313
Total Cost (based on the terms listed above): $23,277.00
Effective monthly payment (based on the terms listed above): $646.58
MSRP: $55,150
Expiration date for lease offer: 5/31/24
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2023 Mercedes-Benz EQS SUV
Lease monthly payment: $929.00
Duration of lease: 36 months
Money down required for lease: $9,153
Total Cost (based on the terms listed above): $42,597.00
Effective monthly payment (based on the terms listed above): $1,183.25
MSRP: $105,550
Expiration date for lease offer: 5/31/24
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2023 Nissan Ariya
Lease monthly payment: $179.00
Duration of lease: 18 months
Money down required for lease: $4,759
Total Cost (based on the terms listed above): $7,981.00
Effective monthly payment (based on the terms listed above): $443.39
MSRP: $45,105
Expiration date for lease offer: 6/3/24
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2024 Audi Q4 e-tron
Lease monthly payment: $479.00
Duration of lease: 36 months
Money down required for lease: $1,374
Total Cost (based on the terms listed above): $18,618.00
Effective monthly payment (based on the terms listed above): $517.17
MSRP: $55,695
Expiration date for lease offer: 6/3/24
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2024 Audi Q8 e-tron
Lease monthly payment: $619.00
Duration of lease: 36 months
Money down required for lease: $6,513
Total Cost (based on the terms listed above): $28,797.00
Effective monthly payment (based on the terms listed above): $799.92
MSRP: $81,840
Expiration date for lease offer: 6/3/24
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2024 BMW i4
Lease monthly payment: $499.00
Duration of lease: 36 months
Money down required for lease: $4,979
Total Cost (based on the terms listed above): $22,943.00
Effective monthly payment (based on the terms listed above): $637.31
MSRP: $55,245
Expiration date for lease offer: 6/2/24
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2024 BMW i5
Lease monthly payment: $699.00
Duration of lease: 36 months
Money down required for lease: $6,559
Total Cost (based on the terms listed above): $31,723.00
Effective monthly payment (based on the terms listed above): $881.19
MSRP: $69,795
Expiration date for lease offer: 6/2/24
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2024 BMW i7
Lease monthly payment: $1,069.00
Duration of lease: 36 months
Money down required for lease: $7,799
Total Cost (based on the terms listed above): $46,283.00
Effective monthly payment (based on the terms listed above): $1,285.64
MSRP: $106,695
Expiration date for lease offer: 6/2/24
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2024 Cadillac Lyric
Lease monthly payment: $429.00
Duration of lease: 36 months
Money down required for lease: $4,889
Total Cost (based on the terms listed above): $20,333.00
Effective monthly payment (based on the terms listed above): $564.81
MSRP: $58,590
Expiration date for lease offer: 6/3/24
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2024 Chevrolet Blazer EV
Lease monthly payment: $469.00
Duration of lease: 36 months
Money down required for lease: $3,319
Total Cost (based on the terms listed above): $20,203.00
Effective monthly payment (based on the terms listed above): $561.19
MSRP: $50,195
Expiration date for lease offer: 6/3/24
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2024 Honda Prologue
Lease monthly payment: $439.00
Duration of lease: 36 months
Money down required for lease: $3,999
Total Cost (based on the terms listed above): $19,803.00
Effective monthly payment (based on the terms listed above): $550.08
MSRP: $48,795
Expiration date for lease offer: 7/8/24
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2024 Hyundai Ioniq 5
Lease monthly payment: $229.00
Duration of lease: 24 months
Money down required for lease: $3,499
Total Cost (based on the terms listed above): $8,995.00
Effective monthly payment (based on the terms listed above): $374.79
MSRP: $48,775
Expiration date for lease offer: 6/3/24
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2024 Hyundai Ioniq 6
Lease monthly payment: $189.00
Duration of lease: 24 months
Money down required for lease: $1,999
Total Cost (based on the terms listed above): $6,535.00
Effective monthly payment (based on the terms listed above): $272.29
MSRP: $43,600
Expiration date for lease offer: 6/3/24
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2024 Hyundai Kona Electric
Lease monthly payment: $199.00
Duration of lease: 24 months
Money down required for lease: $1,029
Total Cost (based on the terms listed above): $5,805.00
Effective monthly payment (based on the terms listed above): $241.88
MSRP: $38,050
Expiration date for lease offer: 6/3/24
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2024 Kia EV6
Lease monthly payment: $249.00
Duration of lease: 24 months
Money down required for lease: $3,999
Total Cost (based on the terms listed above): $9,975.00
Effective monthly payment (based on the terms listed above): $415.63
MSRP: $47,325
Expiration date for lease offer: 7/8/24
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2024 Kia EV9
Lease monthly payment: $419.00
Duration of lease: 24 months
Money down required for lease: $4,999
Total Cost (based on the terms listed above): $15,055.00
Effective monthly payment (based on the terms listed above): $627.29
MSRP: $60,695
Expiration date for lease offer: 7/8/24
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2024 Kia Niro EV
Lease monthly payment: $149.00
Duration of lease: 24 months
Money down required for lease: $3,999
Total Cost (based on the terms listed above): $7,575.00
Effective monthly payment (based on the terms listed above): $315.63
MSRP: $40,975
Expiration date for lease offer: 7/8/24
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2024 Lexus RZ
Lease monthly payment: $399.00
Duration of lease: 36 months
Money down required for lease: $4,999
Total Cost (based on the terms listed above): $19,363.00
Effective monthly payment (based on the terms listed above): $537.86
MSRP: $56,235
Expiration date for lease offer: 6/3/24
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2024 Mercedes-Benz EQE
Lease monthly payment: $699.00
Duration of lease: 36 months
Money down required for lease: $6,843
Total Cost (based on the terms listed above): $32,007.00
Effective monthly payment (based on the terms listed above): $889.08
MSRP: $76,050
Expiration date for lease offer: 5/31/24
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2024 Mercedes-Benz EQE SUV
Lease monthly payment: $779.00
Duration of lease: 36 months
Money down required for lease: $7,273
Total Cost (based on the terms listed above): $35,317.00
Effective monthly payment (based on the terms listed above): $981.03
MSRP: $79,050
Expiration date for lease offer: 5/31/24
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2024 Mercedes-Benz EQS
Lease monthly payment: $1,099.00
Duration of lease: 36 months
Money down required for lease: $9,513
Total Cost (based on the terms listed above): $49,077.00
Effective monthly payment (based on the terms listed above): $1,363.25
MSRP: $105,550
Expiration date for lease offer: 5/31/24
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2024 Nissan Leaf
Lease monthly payment: $189.00
Duration of lease: 36 months
Money down required for lease: $3,959
Total Cost (based on the terms listed above): $10,763.00
Effective monthly payment (based on the terms listed above): $298.97
MSRP: $29,810
Expiration date for lease offer: 6/3/24
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2024 Polestar 2
Lease monthly payment: $299.00
Duration of lease: 27 months
Money down required for lease: $3,299
Total Cost (based on the terms listed above): $11,372.00
Effective monthly payment (based on the terms listed above): $421.19
MSRP: $56,700
Expiration date for lease offer: 5/31/24
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2024 Polestar 3
Lease monthly payment: $895.00
Duration of lease: 36 months
Money down required for lease: $6,895
Total Cost (based on the terms listed above): $39,115.00
Effective monthly payment (based on the terms listed above): $1,086.53
MSRP: $74,800
Expiration date for lease offer: 5/31/24
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2024 Subaru Solterra
Lease monthly payment: $329.00
Duration of lease: 36 months
Money down required for lease: $329
Total Cost (based on the terms listed above): $12,173.00
Effective monthly payment (based on the terms listed above): $338.14
MSRP: $46,340
Expiration date for lease offer: 5/31/24
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2024 Volkswagen ID.4
Lease monthly payment: $369.00
Duration of lease: 36 months
Money down required for lease: $3,999
Total Cost (based on the terms listed above): $17,283.00
Effective monthly payment (based on the terms listed above): $480.08
MSRP: $39,735
Expiration date for lease offer: 7/1/24
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2024 Volvo C40 Recharge
Lease monthly payment: $513.00
Duration of lease: 36 months
Money down required for lease: $3,963
Total Cost (based on the terms listed above): $22,431.00
Effective monthly payment (based on the terms listed above): $623.08
MSRP: $56,395
Expiration date for lease offer: 5/31/24
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2024 Polestar 2 Review Thumbnail

How to Get the Best Electric Car Lease Offers

Patience is key when shopping for any vehicle, no matter if it’s an electric car lease. When beginning your search, have a list of priorities and keep these in mind when comparing EVs.

For example, having the best driving range is a major consideration. On the other hand, some people might be willing to sacrifice a few miles of range in favor of stronger acceleration, or the added grip of all-wheel drive. Many new EVs offer at least two choices of powertrain and/or battery size, so get to know what various trim levels provide and if one suits your driving habits more than another.

Research Available Financing Options

Financing a vehicle and buying it outright could be a better option. If you want to side-step mileage limits and potential wear and tear concerns, this might be your best route. Granted, you’ll likely pay more than a lease on the exact same vehicle – though at some point you’ll have extra cash in hand that comes with owning a fully paid off car.

Look into various lending options, too. This might be a dealership loan or an outside lender, and remember that a good credit rating is vitally important to securing the best deals.

Research

Leverage Trade-Ins and Additional Incentives

Having a trade-in vehicle to put towards the lease is another easy way to lower the costs involved. A free online service like CarGurus Sell My Car provides a quick and accurate insight into a vehicle’s value. This way you’ll know to wisely walk away from a deal if the trade-in value is abnormally low.

Don’t be worried to inquire about other potential incentives, including higher mileage limits or free routine maintenance plans. A number of electric cars come with a set amount of free charging at a variety of charging networks around the country. Make sure you ask if some degree of free recharging is included in the lease offer.

Electric Vehicle Tax Credit

One of the only things many car shoppers dread more than an unpleasant dealership experience is calculating their annual taxes. Yet a number of electric vehicles come with substantial tax credits. The U.S. EV tax credit system was recently extended and expanded to include used vehicles and plug-in hybrid vehicles, and while not every vehicle has retained eligibility, it’s definitely worth knowing exactly which federal tax credits apply to a given EV.

Related Topics:

Every Electric Car Under $40,000
How Much Does it Cost to Charge an Electric Car?
The Best Electric Cars

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