Electric vehicle leasing is the cheapest option for new car buyers

A report by Energy Innovation finds that leasing an electric vehicle (EV) is currently the most affordable option for new car buyers in the United States, outperforming the costs of buying or leasing internal combustion engine vehicles.

• Leasing an electric vehicle is currently the most cost-effective method for acquiring a new car in the United States. This affordability is driven by a combination of decreasing EV lease prices, federal tax incentives for leased EVs, increasing interest rates, and the reduced costs associated with EV operation and maintenance.
• Modeling of 14 comparable EV and internal combustion engine models indicates that leasing an EV can be up to $500 cheaper per month and up to $6,000 cheaper per year than buying or leasing a gasoline-powered vehicle.
• For most evaluated models, leasing an EV provides a lower monthly cost than leasing a gasoline vehicle or purchasing either an EV or a gasoline vehicle. Additionally, in many states, financing and owning certain EV models remains more affordable on a monthly basis than equivalent gasoline vehicles for those who prefer not to lease.

APA

Admin, V. D. (2023). Electric vehicle leasing is the cheapest option for new car buyers. Energy Innovation. https://energyinnovation.org/report/electric-vehicle-leasing-is-the-cheapest-option-for-new-car-buyers/

Chicago

Admin, Visceral Dev. Electric vehicle leasing is the cheapest option for new car buyers. Energy Innovation, 2023. https://energyinnovation.org/report/electric-vehicle-leasing-is-the-cheapest-option-for-new-car-buyers/.

Wikipedia

{{cite report |last1=Admin |first1=Visceral Dev |title=Electric vehicle leasing is the cheapest option for new car buyers |publisher=Energy Innovation |date=22 August 2023 |url=https://energyinnovation.org/report/electric-vehicle-leasing-is-the-cheapest-option-for-new-car-buyers/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{admin2023electric, author = {Admin, Visceral Dev}, title = {{Electric vehicle leasing is the cheapest option for new car buyers}}, institution = {Energy Innovation}, year = {2023}, month = aug, url = {https://energyinnovation.org/report/electric-vehicle-leasing-is-the-cheapest-option-for-new-car-buyers/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }