10 Best Electric Car Discounts In April 2024

Electric cars are some of the most expensive new car options you can consider right now. They typically cost more than an ICE because the electrical components and battery pack are far more expensive to develop. As of April 2024, however, there are some great leasing deals and cash-back discounts to be enjoyed for several EVs, making them more attractive to new car buyers. It’s presumed some of these deals intend to motivate consumers to consider electromobility. Some of these EVs haven’t been performing too well in the new car market, so discounts are the best way to sell new units.

These deals are perfect for first-time EV buyers that want to change over from conventional ICE car ownership but are too hesitant about the higher starting costs. This list covers discounts and cash back bonuses on leasing deals and financing from multiple manufacturers. The cars also cover a variety of segments ranging between more accessible crossovers and high-end luxury sedans. Some of the products featured here are 2023 model years that have not sold, but they are still brand-new cars.

In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from various manufacturer websites and other authoritative sources, including Car and Driver, MotorTrend, and Edmunds. We have featured cash-back bonuses and discounted APRs, ranked from best to worst.

Lexus RZ 450e

$20,000 Lease Cash-back

Lexus hands its first-ever EV, the RZ 450e, a whopping $16,000 cash-back incentive for Luxury and Premium trims. This is only valid until the last day of April. The brand also offers a 1.9 percent APR deal over 60 months, available for the same period. You can also enjoy a $7,500 cash-back bonus on all RZ models, including the 300e. If you want to enjoy the biggest saving, try considering a 2023 450e model, which benefits from a massive $20,000 cash-back incentive. Lexus offers the 2024 range with a 1.9 percent APR over 60 months. 2023 models feature a 0 percent APR over 72 months.

2024 Lexus RZ 450e Specs And Performance

(Data sourced from Lexus)

RZ 450e Premium and Luxury models feature Toyota’s dual-motor all-wheel drive configuration, generating a combined 313 horsepower and 320 pound-feet. The result is a claimed 5.0-second 0-60 MPH time, but independent tests reveal 4.6 seconds to be an easily achievable time. The model features a 71.4 kWh lithium-ion battery pack, which results in a rather substandard 196-mile EPA estimated range. The brand starts pricing off at a relatively steep $55,150. Leasing deals start at $409 per month for the base 2024 mode, but you can get a 2023 Premium trim for $399 a month.

2023 Ford F-150 Lightning Platinum

$12,500 Lease Cash-back

Ford is currently offering a whopping $12,500 cashback bonus on all F-150 Lightning Platinum models. The rest of the range benefits from a $7,500 cash-back incentive, except for the XLT, which gets a $2,500 rebate. These discounts are in effect until July 8, 2024. Additional incentives include a 1.9 percent APR for 36 months on all trims, as well as a 7.9 percent APR for 84 months. These bonuses apply to the 2023 model year F-150 Lightning model years, which bear almost no differences to the 2024 model year.

Performance Specifications

(Data sourced from Ford)

The F-150 Lightning Platinum trim sits at the higher end of the EV truck’s lineup, with prices starting at $84,995 and leasing deals at $1,098 per month. This excludes Ford’s steep $2,095 destination fee. The Platinum model features Ford’s dual-motor configurator, generating a combined 580 horsepower and 775 pound-feet, which is enough to get it from 0-60 MPH in 4.0 seconds. Tests indicate that you can easily cut this down to 3.8 seconds in ideal conditions. The EV truck also achieves an impressive 10,000-pound towing capacity and 300-mile EPA-estimated range, thanks to the 131 kWh battery pack.

Polestar 2 Dual Motor

$7,500 Cash-back

All 2024 Polestar 2 dual-motor purchases enjoy a $7,500 cash-back bonus until the end of April 2024. Single-motor models benefit from a reduced $2,100 cash-back incentive. All models feature a 6.49 percent APR for 72 months. Leasing rates start at $349 per month for 27 months via the Polestar Clean Vehicle Incentive and $399 per month over 24 months for the Polestar Flexible Lease Program. Without the discounts, the Polestar 2 range starts at $49,900 for the entry-level derivative, excluding the $1,400 destination fee.

Performance Specifications

(Data sourced from Polestar)

Polestar offers the dual-motor 2 with a choice of two horsepower outputs. The Performance derivative produces 455 horsepower and 546 pound-feet, affording it a 4.0-second claimed 0-60 MPH time. The less powerful 421 horsepower state-of-tune completes this sprint in 4.3 seconds. The Polestar 2 features the brand’s older 78 kWh battery, with 75 kWh of usable energy, resulting in a 247- to 276-mile EPA estimated range figure, depending on your desired trim. These deals do not apply to the exclusive BST trims, as these are technically completely different model lines.

Hyundai Ioniq 5

$7,500 Lease Cash-back

For the month of April, Hyundai issues all Ioniq 5 leases with a $7,500 cash-back bonus. Additional deals include 0 percent APR financing for 60 months, a $213 per month lease rate for the base SE trim, and $229 for the same lease for the SEL over a 24-month period. The flagship Limited costs $489 a month for 36 months. The Hyundai Ioniq 5 range starts at $41,800 for the base SE Standard Range, excluding the brand’s $1,375 destination charge.

Performance Specifications

(Data sourced from Hyundai)

Hyundai offers the Ioniq 5 with a broad variety of powertrains. The entry-level model features a single permanent-magnet electric motor driving the rear wheels with 168 horsepower. The smaller 58 kWh battery means it only covers 220 miles on a single charge. The extended 77.4 kWh battery increases output to 225 horsepower and its range to 303 miles. The dual-motor model features the same battery, but the extra drive unit increases power to 320 horsepower, but the range decreases to 260 miles.

Lucid Air

$5,000 Cash-back

Even with a cash back bonus, the Lucid Air remains an expensive electric car, but we can’t deny that April’s $5,000 on-site vehicle bonus for all trims currently on dealer floors is a competitive deal. If you’re an LA resident, you can earn back as much as $15,000. Leasing for the Air starts at $649 per month for 18 months. These models are also subject to a 2.99 percent APR up to 72 months. The Air range starts at $69,900, but works all the way up to just under $250,000 for the Sapphire.

Performance Specifications

(Data sourced from Lucid)

There are multiple Lucid Air variants available for sale. The Pure is a single-motor rear-wheel drive option, producing a modest 430 horsepower and 406 pound-feet of torque, resulting in a 4.5-second 0-60 MPH time and 124 MPH top speed. The Sapphire is the best Lucid has to offer. This features a collection of three electric motors to generate 1,234 horsepower and 1,430 pound-feet, which you can use to sprint from 0-60 MPH in a class-leading 1.89 seconds. Top speed is capped at a very generous 205 MPH. If you want the best range, you’ll need to get the Grand Touring, which uses a 112 kWh battery pack to cover 516 miles.

Hyundai Kona EV

Lease For $169 Per Month Over 24 Months

The Hyundai Kona electric range benefits from the same $7,500 saving as the aforementioned Ioniq 5, but you also get access to a 0.99 percent APR deal for 48 months and a $169 per month lease deal for 24 months for the base SE. The SEL costs $199 per month, while the Limited benefits from a $242 rate per month over the same period. The Kona Electric range starts at $32,675, excluding Hyundai’s $1,375 destination fee. These deals are valid until the end of April.

Performance Specifications

(Data sourced from Hyundai)

The Kona Electric is a recently refreshed but simpler EV option, featuring a single front-mounted electric motor generating 201 horsepower and 118 pound-feet. A 68 kWh battery pack provides enough energy to cover the crossover for an EPA-estimated 261 miles on a single charge. This is not a car aimed at speed freaks, as the modest EV only breaks the 0-60 MPH sprint in 6.8 seconds until it hits its 107 MPH top speed.

Toyota bZ4X

Lease For $139 Per Month Over 36 Months

The 2023 Toyota bZ4X XLE benefits from an amazing $139 per month leasing deal over 36 months. The Limited trim is only marginally higher, at $179 a month. You can also opt for a $17,750 cash-back rebate for both cars and a 0 percent APR deal over 72 months. Those looking at the 2024 model can consider a $16,250 cash-back deal on all trims, as well as the 0 percent APR configuration. For bZ4X range starts at $43,070 before the $1,350 destination fee.

Performance Specifications

(Data sourced from Toyota)

Toyota offers the bZ4X with a single front-wheel drive or dual-motor all-wheel drive for both XLE and Limited trims. The former produces 201 horsepower, affording it a 7.1-second 0-60 MPH time, while the latter generates 214 horsepower, which gets it from 0-60 MPH in 6.5 seconds. Toyota fits both models with its 71.4 kWh battery pack, which grants the front-wheel drive model a 252-mile EPA range estimate. The dual-motor covers 228 miles on a single charge.

Hyundai Ioniq 6

Lease For $249 Per Month Over 24 Months

The Kia EV6 Light Long Range rear-wheel drive is currently on offer for $249 per month over 24 months. If you want the all-wheel drive, you’ll have to increase your budget to $299. This lease covers a 24-month term, but you can extend the all-wheel drive model’s lease to 36 months. Both of these leases benefit from the same $7,500 discount as the Hyundai Ioniq 5. The EV6 is a more expensive option in its segment, with its $47,945 starting price, excluding the $1,375 destination fee.

Performance Specifications

(Data sourced from Kia)

The EV6 Light trim features a single rear-mounted electric motor, generating 168 horsepower, resulting in an impressive 7.4-second 0-60 MPH acceleration time. The 58 kWh battery is enough to carry it for an impressive 232 miles, while the system returns a 117 MPGe energy estimate on the EPA’s combined cycle. Opting for the all-wheel drive model increases power to 320 horsepower, which cuts the 0-60 MPH time down to 5.1 seconds. The bigger battery also increases the range estimate to 282 miles.

Subaru Solterra

Lease For $329 Per Month Over 36 Months

If you want something a bit more exclusive than the Toyota bZ4X, you can consider the Solterra. Subaru offers this EV for $329 a month or with 0 percent APR over 72 months with no down payment. These specials are valid for all trim options, which start at $44,995 before the brand’s $1,345 destination charge. This deal isn’t as good as Toyota’s deal for the 2023 model, but it’s worth noting that the Solterra only comes in dual-motor all-wheel drive guise with slightly better standard features.

Performance Specifications

(Data sourced from Subaru)

The dual-motor all-wheel drive setup is identical to the bZ4X, meaning it produces a combined 214 horsepower and 249 pound-feet, resulting in a 6.4-second 0-60 MPH claimed time and limited 110 MPH top speed. The Solterra uses a 71.4 kWh battery pack which drives the car for 227 miles on a a single charge in base form. Higher trim models are struck with a slightly worse 222-mile range estimate because of the bigger wheel option.

Volkswagen ID.4

Lease For $379 Per Month Over 36 Months

The Volkswagen ID.4 is one of the highest-selling electric cars in the country, but it is still offering a comprehensive deal on dual-motor Pro models for this month. The 2023 AWD Pro S is subject to a $379 per month lease for 36 months with a $12,000 cash-back bonus. If you want a 2024 Pro S Plus, you can buy one at 3.9 percent APR with a $5,500 cash-back bonus. There’s also a $13,000 cash-back lease bonus on the 2023 Pro S Plus models. If you opt for the 2023 model, you’ll have to make do with the older battery and reduced power output, but it’s still enough to act as a competent EV.

Performance Specifications

(Data sourced from Volkswagen)

All dual-motor all-wheel drive ID.4s come standard with a 330-horsepower and 402-pound-feet combined output, resulting in a claimed 4.9-second 0-60 MPH time and 115 MPH limited top speed. The facelifted model features the brand’s 77 kWh lithium-ion battery pack, which covers an estimated 263 miles on a single charge. The rear-wheel drive Pro returns a slightly better 291-mile range estimate. The ID.4 range starts at $39,735 for the entry-level Standard trim, excluding the brand’s $1,425 destination fee. The all-wheel drive Pro range starts at $48,775.