Top Electric Car Lease Deals: May 2024

We rounded up the best electric car leases in May, plus plug-in hybrid rebates and hybrid car deals worth knowing about. Despite having high prices on paper, manufacturer incentives can often make EV lease prices substantially more affordable than traditional gas vehicles.

Unfortunately, stricter sourcing requirements for the new year have cut into the savings potential of several models, but there are still deals to be had. Here’s our roundup of the best EV lease deals and purchase offers in May. We update this page monthly, so check back for the latest deals.

Memorial Day is right around the corner, which means now can be a great day to save on an EV if you know where to look. We compiled a list of this year’s best Memorial Day deals so you can maximize your savings.

Updated on May 7th at 12:05 pm

Best EV Lease Deals & Rebates

Although the 2023 bZ4x inventory is practically nonexistent, you can still get a killer deal on the 2024 model You can now lease a 2024 bZ4X XLE for just $189 per month over 36 months with $2,999 due at signing. Although it’s not quite as strong as the final deal we saw on the 2023 bZ4X, the new deal still works out to a $272 effective monthly cost. You could do a lot worse on a $45,964 vehicle. This offer expires on June 3rd and is advertised in Los Angeles.

Lexus continues to offer a similarly bonkers deals on the electric RZ. They’re now factoring a hefty $25,350 in lease cash into the advertised payment. Colorado residents can now lease a 2023 RZ 450e Premium for just $199 a month for 27 months with $0 due at signing. That’s a pretty crazy deal for a $62,000 vehicle.

Lexus is able to offer such a low payment because they’re factoring an absurd $27,850 in lease cash into the payment. This offer is good until June 3rd.

Although it saw a small price hike this month, now is still a great time to lease an IONIQ 6. The flagship electric sedan is being offered for $289 per month for 24 months with only $1,299 due at signing. We saw due at signing amounts as low as $350 in recent months, but the current deal’s $372 effective monthly cost is a fantastic value relative to the IONIQ 6’s $46,400 MSRP.

The deal only extends to the RWD SE RWD model, but this deal is so good that it’s worth a look even if you were considering leasing a higher trim. This offer ends June 3rd and is being advertised in Los Angeles.

Like the IONIQ 6, the Hyundai IONIQ 5 saw a small price cut in May but is still a great value. The mid-level RWD SEL RWD model is being offered for just $229 a month for 24 months with $3,499 due at signing. The $375 effective monthly cost is a fantastic deal relative to the IONIQ 5’s $48,775 MSRP.

If you’re looking to buy, Hyundai is offering the 2024 IONIQ 5 with 0% APR for up to 60 months with $7,500 in retail bonus cash included. Both offers end June 3rd and are being advertised in Los Angeles.

The Hyundai Kona EV saw a $5 bump to its monthly payment in May, but a lower amount due at signing made this deal even better than the one we saw last month They lowered prices on the Kona Electric to just $169 a month over 24 months with $1,029 due at signing. The effective monthly cost works out to just $242, making it the cheapest lease deal we track right now.

This Kona Electric deal is for the Los Angeles region and is good through June 3rd.

The 2024 Kia EV9 is an even better deal in May thanks to updated incentives. All versions of the 3-row electric SUV now continue to offer $7,500 in Customer Cash. What’s more, Kia owners can score a $1,000 EV9 loyalty discount through June 3rd. As a result, we think it may be possible to save as much as $8,500 under ideal circumstances.

Kia also started offering 0% financing for up to 48 months on the EV9, which unfortunately isn’t stackable with the customer cash. EV9 Long Range trims are capable of up to 304 miles of range and leases now start at $419 a month following an $80 price cut. Offers end June 3rd.

The 2023 Subaru Solterra consistently ranked among the best EVs to lease, but it sold out last month. Luckily, the 2024 model now has an even better deal. You can lease a 2024 Solterra Premium for $329 a month over 36 months with $329. The $338 effective monthly cost makes this a very compelling introductory offer.

The Subaru Solterra is rated at up to 228 miles of range. If you don’t need all-wheel drive, you may want to consider the Toyota bZ4X. Alternatively, both EVs are eligible for 0% financing for 72 months. We think these could be virtually unbeatable deals if you’re looking for long-term ownership of your next EV. All Solterra deals are good through May 31st and are available nationally.

Ford began offering 0% financing for 72 months on the heels of price cuts worth up to $8,100. This is essentially the best deal we’ve seen to date if you’re looking to buy rather than lease. On top of that, the California Route 1 trim qualifies for $3,000 in bonus cash, offering a way to get more performance for your money.

The Mach-E is capable of up to 312 miles of range depending on the configuration. Shoppers should be aware that early-production-run 2023 Mustang Mach-Es feature more standard equipment than newer ones. As a result, it could be a better deal to choose an older Mach-E if you can find one new. Ford did just cut prices on the 2024 model as well, but it’s not being offered with any promotional financing or lease deals thus far.

The Mach-E financing offer expires July 8th, but the additional $3,000 bonus cash on the CA Route 1 model is good through June 3rd. Based on our analysis, this is a national incentive. In coastal states like California, Ford is also offering $8,500 in lease cash. Elsewhere, expect to find a $7,500 incentive when leasing.

Kia recently cut EV6 lease prices to just $279 per month, allowing it to undercut the Tesla Model 3 by a solid amount. You can now lease the EV6 Light Long Range from $279 for 36 months with $3,999 due at signing. The model is capable of up to 310 miles of range and has a fuel economy rating of 117 MPGe.

The 2024 Kia EV6 also has an unusually good financing deal after a big price cut last month. You can now get zero-interest financing for up to 5 years on any version of the all-electric EV6. The model isn’t eligible for a federal tax credit, though a loophole enables lessees to get $7,500 in lease cash from Kia.

A 24-month option was added with an attractive $229 monthly payment with the same amount due at signing, but the effective monthly cost works out to $396. The 36-month deal offers slightly better value, but the shorter offer is still a strong value if you’re looking for a shorter commitment.

The offer ends on June 3rd. Lease prices can vary by region, with a $319-per-month payment in places outside of California, Colorado, Oregon, and Washington state.

The 2023 Nissan Ariya has ultra-affordable leases in some parts of the country. In New York, the all-electric SUV is listed at just $219 for 18 months with $4,099 due at signing for the ENGAGE trim with a 63 kWh battery. The effective monthly cost is $2 higher in May at $447, but that’s still a great deal. The Ariya is capable of up to 216 miles with a fuel economy rating of 101 MPGe depending on the trim.

Through June 3rd, Nissan is also continuing to offer 0% APR financing for 72 months on all Ariya models. That’s the best financing deal to date. Note that Nissan Ariyas aren’t eligible for the federal tax credit. Curiously, that creates a disadvantage compared to the Nissan LEAF, which qualifies for a $3,750 tax credit.

Although it might not receive the same level of fanfare as the brand’s larger EVs, Kia is now offering a rather compelling offer on their entry-level Niro EV. You can now lease a 2024 Niro Wind EV for just $199 per month with $3,999 due at signing. The effective monthly cost works out to a competitive $310, which is a great value relative to the Niro EV’s $40,925 MSRP.

This offer is available in Georgia, Kansas, Oregon, Maryland, North Carolina, Nevada, Texas, and Washington and is good through July 8th.

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Best Hybrid & PHEV Lease Deals & Rebates

The 2024 Jeep Wrangler 4xe has some killer discounts in most parts of the country. In the Northeast, you’ll find up to $15,500 in lease cash. As a result, the Wrangler 4xe Sahara can be leased for just $369 for 36 months with $4,829 due at signing. The resulting $503 effective monthly cost is hard to beat at a $59,760 MSRP.

The 4xe has a range of 27 miles on EV power and is rated at 49 MPGe, and is more powerful than the standard gas Wrangler. This offer is available until June 3rd.

Through June 3rd, the 2024 Hyundai Tucson Hybrid N-Line has a $2,250 discount that you can’t get on other styles. To put that into perspective, all other versions of the Tucson have just a $1,250 discount. With $2,250 in Retail Bonus Cash, the odds are that the Tucson may be a way better deal than a Toyota RAV4 Hybrid.

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All Electric Car Lease Deals

We found 102 EV leases in May 2024. The cheapest electric car lease is the 2024 Hyundai Kona EV in most parts of the country.

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All Plug-In Hybrid Lease Deals

We found 34 plug-in hybrid lease deals. The cheapest plug-in hybrid lease is the Kia Niro Plug-In Hybrid in California.

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All Hybrid Car Lease Deals

We found 38 hybrid car leases. The cheapest hybrid to lease is the 2024 Kia Niro Hybrid in California.

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