Exploring the Best Electric Vehicle Deals of 2023

The landscape of electric vehicle (EV) leasing and financing has seen significant improvement this year. However, it’s important to recognize that the nature of these deals has shifted permanently since the pandemic. If you’re considering getting into an EV or a plug-in hybrid (PHEV) this year, you’re in for some attractive offers from various manufacturers. 

Current Trends in EV and PHEV Deals 

We’ve observed that almost every leasing and financing deal available this month is as good as, if not better than, the ones from the previous month. As we approach 2024, automakers are set to introduce more EVs and increase their inventories. This could mean even more competitive offers on the horizon. 

Several EVs and PHEVs are currently available with enticing lease deals, modest discounts, and reasonable financing rates. Some models even combine these offers. Tesla, notably, has been reducing its prices throughout the year, making its cars more affordable than ever. Additionally, Tesla and other automakers are providing information about eligibility for the revamped US federal EV tax credit. 

Leasing vs. Buying: A Tax Credit Perspective 

If you opt to lease, you won’t have to stress about your personal tax situation for claiming the credit. When leasing, the tax credit is applied to the lender and typically reflected in the lease, effectively giving you a discount. Recently discovered loopholes might mean larger credits for some EVs. For instance, leasing a Tesla Model 3 or Model Y is now more affordable than ever. 

Top Picks for EV Deals 

Check out Hyundai and Kia for some of the best EV deals each month. Hyundai’s Ioniq 6, for example, is an excellent option if you’re looking for an affordable lease payment. 

Remember, deals vary by market and come with specific restrictions. It’s always best to consult with your local dealer. 

Manufacturer-Sponsored Incentives and Credit Ratings 

The best manufacturer-sponsored incentives are often reserved for returning lessees and employees or affiliates of the automakers. A top-tier credit rating usually unlocks the best deals. 

Staying Updated 

Be sure to keep an eye on updates, as deals are regularly revised with new information. For instance, here are some notable offers: 

• 2024 Alfa Romeo Tonale: Lease for $409/month for 24 months with $4,610 due at signing. 
• 2024 Audi e-tron GT: Enjoy up to $15,000 National Customer Credit Bonus. 
• 2023 BMW iX: Lease for $799/month for 36 months with $6,429 due at signing. 
• 2023 Hyundai Ioniq 6: Lease for $229/month for 36 months with $5,006 due at signing. 

Conclusion: A Dynamic Market with Promising Deals 

The EV lease and financing market is dynamic and full of promising deals. Whether you’re leasing or buying, there’s a range of options that cater to different budgets and preferences. Remember to do your research, stay informed about the latest offers, and consult with local dealers to find the best deal for you. 

Posted by Jia Li

Categories: Incentives