With more models hitting the market and more incentives, electric cars are just as affordable, if not more so, than gas powered cars. However, with Trump's transition team reportedly planning to eliminate the EV tax credit, the savings may soon disappear. Check out the EVs you can lease for less than $300 a month in January below.
2024 was another record year for EV sales in the US. Many automakers, including GM, Ford, Hyundai, Kia, and Honda, sold more electric cars last year than in 2023.
In accordance with Cox Automotiveelectric vehicles are expected to represent 7.5% of all US auto sales by 2024. Although full sales numbers for December and the full year 2024 have not been released, EV sales hit a record in November. With more than 116,000 units sold, electric vehicles gained a market share of 8.5%.
The main reason for the increase was new models, such as the Honda Prologue, which was the third best-selling EV in the US in November. That's after deliveries started as recently as March.
Honda sold more than 33,000 Prologues in the US last year, nearly 7,900 in December alone. With more than 114,000 EVs sold, GM surpassed Ford's estimated 97,900. Meanwhile, Hyundai, Kia, and others have reported EV sales in 2024.
While the main reason for the increase in sales is due to new options, major incentives have made EVs even cheaper to lease than gas-powered vehicles.
Which EVs will be leased for less than $300 in January 2025?
With additional rebates on top of the $7,500 EV tax credit, some rebates reach as high as $10,000 to $20,000 off MSRP. In Q3, EV incentives accounted for more than 12% of the average sales price (ATP), which is almost double the industry average of 7%.
Despite having a starting price nearly double that of the Civic Sedan, you can lease the Honda Prologue for less in most US locations.
The 2024 Honda Prologue is listed at just $229 for 36 months in California and other ZEV states. With a $1,299 down payment, the effective monthly payment is $265. That's for the EX (FWD) trim, which has a range of up to 296 miles.
In other parts of the country, don't worry – Honda still offers Prologue leases starting at $249 per month. You can also choose 0% APR.
| Rent From | Term (months) |
Due at Signature | Effective monthly rate (including prepayments) |
|
| 2025 Kia Niro EV | $149 | 24 | $3,999 | $315 |
| 2024 Kia EV6 | $159 | 24 | $3,849 | $319 |
| 2024 Hyundai IONIQ 5 | $189 | 24 | $3,999 | $355 |
| 2024 Hyundai IONIQ 6 | $159 | 24 | $3,999 | $326 |
| 2024 Volkswagen ID.4 | $149 | 24 | $999 | $190 |
| 2024 Fiat 500e | $211 | 42 | $211 | $216 |
| 2024 Toyota bZ4X | $219 | 39 | $2,999 | $296 |
| 2024 Honda Presentation | $229 | 36 | $1,299 | $265 |
| 2024 Subaru Soltera | $279 | 36 | $279 | $287 |
| Tesla Model 3 | $299 | 36 | $2,999 | $382 |
| Tesla Model Y | $299 | 36 | $2,999 | $382 |
| 2024 Chevrolet Equinox EV | $299 | 24 | $3,169 | $431 |
Using data from an auto intelligence firm CarsDirectwe've rounded up the top EVs you can rent for under $300 a month this January. This article was updated with the latest deals as of January 24, 2025. You can view the offers in your area below.
Several other electric crossovers and SUVs, including the 2024 Subaru Solterra, Toyota bZ4X, and Hyundai IONIQ 5, are available for lease under $300.
The 2024 Hyundai IONIQ 5 is listed as low as $189 for 24 months. With $3,999 to sign, the effective price is $355. Hyundai is offering big savings to offset the 2025 lineup of updated models hitting US dealerships.
Hyundai's other dedicated EV, the IONIQ 6, is listed for just $159 for 36 months. With $3,999 to sign, the effective monthly rate is $326.
Earlier this month, Hyundai introduced a new program that offers those who purchase or lease a 2025 IONIQ 5 a free ChargePoint Level 2 Home EV charger. Or, if you already have one, you can choose a $400 recharge credit.
Subaru is offering 2024 Solterra leases starting at $279 per month (36 months). With the first month's fee to be paid up front ($279), the monthly price is $296. While Toyota's bZ4X is listed for as little as $219 for 39 months, with $2,999 to sign, it's a bit higher at $296.
Tesla's Model Y and Model 3 can be leased for just $299 per month (36 months). With $2,999 to sign, the effective price is $382.
The 2024 Chevy Equinox EV can be leased for as little as $299 for 24 months. With an expected $3,169 upfront, the monthly cost is $431.
In mid-January, Chevy introduced a 0% APR offer on the new Equinox, Blazer, and Silverado EV. Combined with the new trading bonus, you can save over $5,000.
Meanwhile, a November report from Reuters says Trump's transition team aims to eliminate the $7,500 federal tax credit. If true, many of these savings may soon disappear.
Are you ready to get your new EV? We have it for you. You can use our links below to find the best deals on popular electric cars in your area.
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