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How much does it cost to lease an electric car?

NEW ERA OF EV AFFORDABILITY There are clear signs that electric cars are becoming affordable to mainstream car buyers. At the end of May, Honda announced a new lower price for all-electric Fit EV, which now has a lease price of $259 a month reduced from $389 per month. It's a sweet deal.

Is it worth it to lease an electric car?

If you're considering an electric car, leasing may help protect you from risks involving the faster depreciation that can occur with electric vehicles. But with leasing, you'll also lose out on certain tax credits that can come with buying a qualifying electric car instead.

Is it cheaper to lease an electric car?

The least-expensive electric car to lease this month costs less per day than a fast-food burger. While new-vehicle leasing currently accounts for around 30 percent of all transactions, that rate is much higher among electric cars. According to published reports, close to 80 percent of all EVs are leased.

Do you get a tax credit if you lease an electric vehicle?

While someone who leases an electric car isn't eligible for the $7,500 federal income-tax credit, automakers usually (but not always) pass all or most of this amount to the buyer to lower the lease payment.

Does the $7500 tax credit work on a lease?

While one reason is high resale value, another is a $7,500 tax credit offered by the federal government for plug-in hybrids and electric vehicles. The leasing company gets the tax benefit and passes those savings to the lessor in the form of a lower monthly payment.

How much is a typical car lease?

Average cost of a car lease The average lease payment for a new vehicle is just over $450 per month for a three-year lease, according to Experian's Q1 2019 State of the Automotive Finance Market report. That's about $100 less than the average monthly auto loan payment for a new car, which was $554.

How much does it cost to lease a $30000 car?

A $30,000 vehicle with a 65 percent residual would have a base monthly payment of $292 before taxes, interest and fees. Choosing the vehicle with the higher residual percentage would net a savings of more than $200 per month for a vehicle with the same selling price.

How much is a lease on a 50000 car?

You want the $50,000 car and have negotiated the price down to $45,000. It will be worth $30,000 at the end of the lease, so your lease cost, before interest, taxes, and fees, will be $15,000 divided into equal monthly payments.

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