July 14, 2024
News

The average monthly lease payment for an electric vehicle is $354.

Encouragements have resulted in high leasing penetration for electric vehicles, with typical monthly payments for leased cars falling below $400 despite the majority of EVs having prices exceeding $40,000. The average Manufacturer’s Suggested Retail Price (MSRP) for electric SUVs offering lease incentives in June was $47,642, based on data as of June 5 shared with Auto Finance News by Cox Automotive.

FAQ

1. What has contributed to the strong leasing penetration for EVs?

Encouragements and incentives have played a significant role in driving high leasing rates for electric vehicles.

2. What is the average monthly payment for leased EVs?

The average monthly payment for leased EVs is below $400.

3. What was the average MSRP for electric SUVs with lease incentives in June?

The average MSRP for electric SUVs with advertised lease incentives in June was $47,642.

Conclusion

Incentives have been instrumental in boosting the leasing market for electric vehicles, making them more affordable for consumers. Despite the higher upfront costs of EVs, the availability of incentives has made them a viable option for many, as evidenced by the lower monthly payments for leased vehicles.

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