Five EVs that lease for under $300/month
Last February there were nine EVs that leased for an average monthly cost of under $400 before tax and license. Since then, factory incentives have become even more attractive, and now four of those nine are leasing for under $300/month. A fifth EV, one that leased for over $400/month back then, has plunged into the sub-$300 club after a $120/month cut in cost.
Under $300/month is notable because many people spend more than that on gas, and, depending on where you get your electricity from, switching to an EV could offset most or all of the cost of the lease.
Have EV leases bottomed yet? Maybe. There are signs of it in a few of these offers, but at this point only time can tell. In any case, these five electrics have some of the best lease terms we’ve seen in years, perhaps ideal for drivers yearning to start their electric transition with minimal financial commitment.
1. 2024 Hyundai Kona Electric SEL – $234/month
At $199/month for 24 months and $1029 to start, the Hyundai Kona Electric has an average monthly lease cost that’s 35% less than when the second-generation models first reached our shores earlier this year. In well-equipped SEL trim (MSRP $38,050), the redesigned front-drive five-passenger crossover carries 25.5 cubic feet behind its rear seats, travels 261 miles on a full charge and scoots from zero to 60mph in 6.7 seconds.
Curiously, the Kona Electric in SE trim (MSRP $34,050) leases for $28/month more than the SEL despite being $4000 cheaper on a purchase. So those willing to settle for the base model’s relatively mild 8.7-second 0-60 time and below-average 200-mile range in an effort to save a bit of money should consider buying rather than leasing, especially since Hyundai’s rebate on a purchase matches the $7500 incentive that contributes to the amazing lease rates.
Hyundai dealers don’t stock many of these gems. By our observation, it seems that the Kona Electric makes up less than 5% of a given dealership’s EV inventory, so huge discounts, like the car itself, are a bit rare. Let us help you find a Hyundai Kona Electric in your area.
2. Subaru Solterra Premium – $241/month (2023), $329/month (2024)
I thought about striking this one off the list since the 2023 Solterra seems to be completely sold out. It remains on the list since there are some incredible dealer discounts on 2024 models that could drive the average monthly lease cost of a 2024 to well below $300/month. Most notably, Heritage Subaru Catonsville in Maryland, Diehl Subaru in Ohio, and Diablo Subaru of Walnut Creek in California are discounting in-stock 2024 Solterras in Premium trim by $6500 or more, which should translate into a $70/month reduction from the factory lease terms, resulting in an effective monthly lease cost of $250 to $260 per month. Judging by the market reaction to a no-down, $241/month factory lease offer that quickly cleaned out 2023 models from dealer inventories in April, $260/month is a pretty good deal for a current-year all-wheel-drive five-passenger crossover that goes 227 miles on a charge, hustles from zero to 60mph in 6.5 seconds, and carries 29 cubic feet of cargo behind its rear seats.
By our count, Solterra availability has at least tripled in the last two months as an influx of 2024 models arrived at dealerships, which might be part of the reason for some of the enticing discounts we found. Find a great deal on a Subaru Solterra near you.
3. 2024 Hyundai Ioniq 6 SE RWD – $264/month
Maybe it’s not the cheapest lease on this list, but its incredible 361-mile range arguably makes the Hyundai Ioniq 6 SE in rear-wheel-drive configuration the best value of the bunch. Capable of sprinting to 60mph in just 6.2 seconds, the five-passenger sedan clearly manages to achieve its range without sacrificing performance. A slippery albeit somewhat polarizing exterior design likely factors into its efficiency, leaving a smaller than average 11.2 cubic foot trunk as perhaps the only evidence of compromise.
The factory lease terms of $189/month for a short 24 months with $1999 due at signing before tax and license is quite attractive for an EV with best-in-class range that’s only on its second year in the US. In fact, Hyundai’s Ioniq 6 factory incentives over the past couple of months seem to have been working so well that advertised dealer-advertised discounts currently range from modest to nonexistent, even on higher trim levels. That being said, popular car shopping websites indicate that discounts of about $1500 can be achieved in some areas. Look for a Hyundai Ioniq 6 deal near you.
4. 2024 Toyota bZ4X XLE – $266/month (AWD in NY), $267/month (FWD in CA)
Unfortunately you’ll probably have to wait If you want a Toyota bZ4X because last month’s factory lease offers on the were spectacular, with average monthly lease costs starting from $191/month for a 2023 and $227/month for a 2024. In-stock inventory was depleted in less than two weeks, so now dealers are just taking reservations for in-transit and allocated vehicles that barely entered the build phase.
Today, shopping for a bZ4X almost feels like we’ve traveled back in time, circa 2021, when dealer markups and mandatory accessories were the norm rather than the exception. One dealership in the Los Angeles area that was peddling their inventory of 2024 models for nearly $3000 under MSRP in April is now listing a $1990 upcharge for dealer-installed accessories on each bZ4X that is in transit or still being built. And guess what? Six out of seven are reserved. This could indicate that Toyota’s factory lease terms on the bZ4X may have bottomed last month, given that dealers can secure deposits despite a $37/month hike in lease cost. It won’t be a complete surprise if bZ4X leases gradually ratchet up in cost from here until equilibrium is achieved between supply and demand.
As it stands, Toyota’s California lease offer of $189/month for 36 months with $2999 due at signing before tax and license is a true bargain for a front-drive five-passenger crossover that hauls 27.7 cubic feet of cargo behind its rear seats, travels 252 miles on a full charge, and does zero to sixty in a tick over seven seconds. New Yorkers get an even better offer – $159/month for 36 months, $3999 due at signing – for an all-wheel-drive with a 228-mile range and 0-60 time of 6.5 seconds. Great deals, assuming minimal dealer markups and add-ons.
Shoppers who don’t enjoy negotiating with dealers that have the upper hand should seriously consider the Subaru Solterra, which is pretty much a carbon copy of an all-wheel-drive bZ4x but with immediate availability and attractive retailer discounts. For die-hard Toyota loyalists and those that just can’t live without the additional 24 miles of range of a front-drive bZ4X, we can help find a fair deal on a Toyota bZ4X in your area.
5. 2024 Nissan LEAF S – $294/month (Northeast, DE, VA, MD), $315/mo (elsewhere)
At $189/month for 36 months with $3,959 to start, the average monthly lease cost for the Nissan LEAF S is dipping to just under $300/month for the first time in over two years. However, that still seems a bit expensive for the aging front-drive, five-passenger hatchback with 24 cubic feet of cargo space behind its rear seats since it only travels 149 miles on a full charge and takes 7.4 seconds to achieve 60mph from standstill.
Some dealers seem to be compensating for these shortcomings by substantially undercutting the factory lease terms, particularly on the West Coast. Nissan of Portland in Oregon and Concord Nissan in the San Francisco area are advertising 36-month leases with effective monthly costs of $193 and $228, respectively for a LEAF S. Southern California dealers Nissan of Van Nuys, Nissan of Tustin, Nissan of Costa Mesa, and Nissan of Mission Hills have 18-month leases that with effective monthly costs between $237 and $246, which is incredibly attractive considering the short commitment. Look for Nissan LEAF deals near you.
As always, check our Electric Vehicle Best Price Guide and Electric Vehicle Best Lease Guide for the best deals on EVs in the US.
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Tesla (TSLA) board members have received a wake-up call letter from eight state treasurers, asking them to fulfill their duties and supervise the company’s CEO, Elon Musk.
Will they ignore this warning as well?
There have been concerns about Tesla’s board sleeping at the wheel for a while now.
Their job is to oversee Tesla’s management for the benefit of shareholders, but Tesla’s stock is down almost 40% this year while the CEO is splitting his time between 6 different companies and projects while alienating most of Tesla’s consumer base.
Yet, the board hasn’t said a word about it.
The situation lends weight to the argument that the board is entirely under Musk’s control, which is the main point of contention in Tesla’s $55 billion CEO compensation case.
Now, eight state treasurers have joined forces to raise their concerns with the board. They wrote in a letter addressed to Robyn Denholm, chair of Tesla’s board:
We are increasingly concerned that Tesla’s recent performance signals deeper governance and leadership challenges that, if left unaddressed, could have serious consequences for the company and its stakeholders. In the first quarter of 2025 alone, Tesla’s stock declined by 36%. The company missed delivery targets, recalled a substantial number of vehicles, and experienced a surge in trade-ins for competing brands. Meanwhile, CEO Elon Musk continues to divide his attention across multiple companies and a high-profile advisory role within the federal government. These external commitments raise serious questions about whether Tesla’s leadership is fully engaged in addressing the company’s core challenges.
In the letter, the treasurers remind Tesla’s board of its duty “to provide strong oversight, uphold fiduciary standards, and ensure that the company’s leadership is aligned with the long-term best interests of the company.”
They are directly asking the board three questions:
- How is the Board ensuring that Mr. Musk and Tesla’s leadership team are devoting adequate time and focus to resolving recent performance issues and guiding the company’s future direction?
- In light of the company’s underperformance, how is the Board evaluating whether executive compensation remains aligned with shareholder value and corporate accountability?
- How does the Board plan to communicate its strategy for navigating this period of uncertainty and restoring investor and public confidence in Tesla’s leadership?
Tesla is going to release its Q1 2025 financial results today, hold its earnings conference call, and have a “live company update.’ Maybe some of these questions will be answered.
Here’s the letter in full:
2025-04-17 Letter to Tesla Board Chair
April 17, 2025
Robyn Denholm
Chair of the Board
Tesla, Inc.
1 Tesla Road
Austin, TX 78725
Dear Chair Denholm,
We are entrusted with promoting the long-term economic health and financial stability of our states and the people we serve. Tesla, Inc. is not just one of the world’s most valuable companies—it is a major player in the clean energy economy and a leading force in emerging technologies such as robotics and autonomous driving. The company’s success or setbacks have significant implications for workers, regional industries, and innovation ecosystems in our states.
We are increasingly concerned that Tesla’s recent performance signals deeper governance and leadership challenges that, if left unaddressed, could have serious consequences for the company and its stakeholders. In the first quarter of 2025 alone, Tesla’s stock declined by 36%. The company missed delivery targets, recalled a substantial number of vehicles, and experienced a surge in trade-ins for competing brands. Meanwhile, CEO Elon Musk continues to divide his attention across multiple companies and a high-profile advisory role within the federal government. These external commitments raise serious questions about whether Tesla’s leadership is fully engaged in addressing the company’s core challenges.
We regularly interact with stakeholders across our states, including institutional investors, industry leaders, workers, and small businesses. We are hearing increasing concern about Tesla’s direction, not only from financial professionals but from those who have looked to Tesla as a leader in clean energy innovation and American industrial renewal. If Tesla falters, the effects won’t be confined to shareholders—they will ripple through regional economies, workforce pipelines, and public confidence in the energy transition.
At a moment when American industrial leadership is facing stiff global competition, it is essential that companies like Tesla are governed with focus, discipline, and clarity of mission. The Board’s role is especially critical now—to provide strong oversight, uphold fiduciary standards, and ensure that the company’s leadership is aligned with the long-term best interests of the company. Public officials like us do not take the step of raising these concerns lightly except when the obvious risks demand it.
We believe the Tesla Board has a responsibility to act decisively to ensure the company returns to a stable and focused trajectory.
We respectfully request the Board provide clarity on the following:
- How is the Board ensuring that Mr. Musk and Tesla’s leadership team are devoting adequate time and focus to resolving recent performance issues and guiding the company’s future direction?
- In light of the company’s underperformance, how is the Board evaluating whether executive compensation remains aligned with shareholder value and corporate accountability?
- How does the Board plan to communicate its strategy for navigating this period of uncertainty and restoring investor and public confidence in Tesla’s leadership?
Finally, we strongly believe Tesla’s Board would benefit from engaging with public sector stakeholders who share an interest in the company’s long-term value and societal impact. We welcome the opportunity to speak further about these concerns and discuss how the Board can take swift and transparent action to restore investor confidence and public trust in Tesla’s leadership and the company’s future.
We welcome a response and the opportunity for continued dialogue.
Signed,
Mike Pellicciotti, Washington State Treasurer
Deborah B. Goldberg, Massachusetts State Treasurer and Receiver-General
Michael W. Frerichs, Illinois State Treasurer
Erick Russell, Connecticut Treasurer
Laura M. Montoya, New Mexico State Treasurer
David L. Young, Colorado State Treasurer
Mike Pieciak, Vermont State Treasurer
Malia M. Cohen, California State Controller
Electrek’s Take
Tesla is a $700 billion publicly traded company that is run like a family business by Musk, who owns just 13% of the float.
The board, which was so handsomely rewarded that it had to return almost $1 billion worth of compensation as part of a shareholder lawsuit, is letting Musk do whatever he wants without any objection.
It’s clear that they have a quid pro quo with Musk, whereby they receive compensation at a rate several times higher than any other similarly sized company in exchange for allowing Musk to run Tesla as if it were his private company.
While I am glad they sent this letter, I doubt that a group of state treasurers will convince Tesla’s board to do anything.
At this point, they are either completely fine with Musk destroying Tesla or they believe his claims about self-driving technology.
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Chevron is not seeing signs that the U.S. is close to a recession even as President Donald Trump’s tariffs weigh on expectations for oil demand, CEO Mike Wirth said Tuesday.
“There’s no signs that we see at this point that we are in or close to a recession,” Wirth told CNBC’s “Squawk Box.” “There are signs that growth may be slowing and we have to always be prepared for that.”
The International Monetary Fund on Monday cut its growth outlook for the U.S. this year to 1.8%, down from 2.7% previously.
The oil market is expecting reduced demand as a consequence of Trump’s tariffs and the decision by OPEC+ increase production faster than expected, Wirth said. Chevron isn’t changing its capital spending plans in response to drop in prices, the CEO said.
U.S. crude oil prices have fallen about 11% since Trump announced his tariffs on April 2. West Texas Intermediate was last up about 72 cents at $63.80 per barrel. OPEC and the International Energy Agency have cut their demand outlooks for this year.
Wirth said U.S. onshore oil production in patches like the Permian Basin is likely to pull back if prices hit $60 per barrel. Offshore production likely won’t be affected, he said.
“That’s an area where if we were to be at a $60 price or even lower you’re likely to see activity pull back in this sector and you’ll see the production response over a few months,” Wirth said. “That’s what we should watch, not so much the deep water activity.”
Chevron is not expecting a major direct impact on its business from Trump’s tariffs as energy has largely been exempt from the levies, Wirth said.
“The effects that we feel are likely to be more the macroeconomic effects as they flow through the economy,” Wirth said. “The bigger issues would be what would it mean for growth, and global trade and how does that evolve.”
Executives at oil and gas companies were scathing in their criticism of Trump’s tariffs in an anonymous March survey by the Federal Reserve Bank of Dallas, warning that steel tariffs were raising their costs and low prices could impact their activity.
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Little is known about super-secretive EV startup Slate, but the fledgling brand is rumored to be backed by Jeff Bezos and determined to shake up the existing electric order with an affordable lineup of compact SUVs and pickups with that golden $25,000 price tag.
Now, at least, we know what it’s gonna look like. The battle of the billionaires is on!
Redditor jonjopop over at the spotted subreddit spotted what looks like an early prototype of an unbranded SUV with bizarre “CryShare” wrap. CryShare, as a concept, seems to combine the functionality of a ride sharing app like Uber or Lyft with the familiar (to parent, anyway) idea that small babies will often sleep better in a moving car than in their own cribs … but that’s not what’s important here.
Instead, focus on the vehicle itself – parked on Abbot Kinney Boulevard in Los Angeles without explanation or fanfare, this is our best look yet at the kind of vehicle(s) Slate is likely to reveal in the coming days.
Stumbled upon the Bezosmobile [Slate Automotive…idk?] being revealed with an absolutely bizarre marketing campaign
byu/jonjopop inspotted
Other local automotive journalists caught wind of the public unveiling, too – and our friends at The Autopian (Hi, Matt!) sent their own David Tracy out on the streets of LA to check it out. Tracy took the following video and posted it to Instagram.
The Slate breaking cover and causing buzz just ahead of what’s sure to be a painful Q1 earnings call for Tesla is a masterstroke of marketing – especially as doubts surrounding the viability of a “less expensive” Tesla Model Y or Model 3 continue to mount amid the uncertainty of Trump’s tariffs and declining sales of the brand’s more profitable models both at home and abroad.
As with so much involving Slate, however, there is nothing here written in stone – or even cast in cheese. Nothing has been announced, nothing is promised, and for all we know this might have more to do with the affordable Rivian brand launch, a new BYD, or be a viral marketing bit from some local Art Center design student in (relatively) nearby Pasadena. In fact, about the only thing I think we can say about Bezos (?) new Slate project with confidence today is this: Elon could probably use that drink.
SOURCES | IMAGES: Reddit, The Autopian.
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