With more models hitting the market and massive incentives, electric vehicles are more affordable than ever. However, with Trump’s transition team reportedly planning to end the EV tax credit, the savings may soon disappear. Here are the EVs you can still lease for under $300 a month in January.
2024 was another record year for EV sales in the US. Many automakers, including GM, Ford, Hyundai, Kia, and Honda, sold significantly more electric cars last year than in 2023.
According to Cox Automotive, electric vehicles are expected to represent 7.5% of all US auto sales in 2024. Although all December and full-year 2024 sales numbers have yet to be released, EV sales hit a record in November. With over 116,000 units sold, electric cars achieved an 8.5% market share.
A big reason behind the growth was new models, like the Honda Prologue, which was the third best-selling EV in the US in November. That’s after deliveries began in just March.
Honda sold over 33,000 Prologues in the US last year, with nearly 7,900 in December alone. With over 114,000 EVs sold, GM outpaced Ford’s roughly 97,900. Meanwhile, Hyundai, Kia, and others reported record EV sales in 2024.
Although a big reason behind the sales surge is due to new options, massive incentives have made EVs even cheaper to lease than gas-powered cars.
What EVs are for lease for under $300 in January 2025?
With additional discounts on top of the $7,500 federal EV tax credit, some discounts are reaching as high as $10,000 to $20,000 off MSRP. In Q3, EV incentives averaged over 12% of the average transaction price (ATP), nearly double the industry average of 7%.
Despite having a starting MSRP almost double that of a Civic Sedan, you can lease a Honda Prologue for less in many parts of the US.
The 2024 Honda Prologue is listed at just $229 for 36 months in California and other ZEV states. With $1,299 due at signing, 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 is still offering Prologue leases starting at $249 per month. You can also opt for a 0% APR.
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
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 Fiat 500e
$211
42
$211
$216
2024 Toyota bZ4X
$219
39
$2,999
$296
2024 Honda Prologue
$229
36
$1,299
$265
2024 Subaru Solterra
$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
Best EV lease deals for under $300 a month in January 2025
Using data from auto intelligence firm CarsDirect, we’ve gathered the top EVs you lease for under $300 a month this January. You can view offers in your area at the bottom.
Several other electric crossovers and SUVs, including the 2024 Subaru Solterra, Toyota bZ4X, and Hyundai IONIQ 5, are available to lease for under $300.
The 2024 Hyundai IONIQ 5 is listed as low as $189 for 24 months. With $3,999 due at signing, the effective rate is $355. Hyundai is offering big savings to clear inventory with the upgraded 2025 models arriving at US dealerships.
Hyundai’s other dedicated EV, the IONIQ 6, is listed at just $159 for 36 months. With $3,999 due at signing, the monthly effective rate is $326.
Subaru is offering 2024 Solterra leases starting at $279 per month (36 months). With just the first month’s payment due up front ($279), the monthly rate is $296. Although Toyota’s bZ4X is listed for as little as $219 for 39 months, with $2,999 due at signing, it’s slightly more with an effective rate of $296.
Tesla’s Model Y and Model 3 can be leased for just $299 per month (36 months). With $2,999 due at signing for an effective rate of $382.
The 2024 Chevy Equinox EV can be leased for as little as $299 for 24 months. With $3,169 due upfront, the monthly rate is $431.
Meanwhile, a November report by Reuters claimed that Trump’s transition team aimed to eliminate the $7,500 federal tax credit. If true, many of these savings could soon disappear.
Are you ready to find your new EV? We’ve got you covered. You can use our links below to find the best deals on popular electric vehicles in your area.
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U.S. exports of coal have been rising steadily to satisfy growing global demand for the world’s dirtiest fossil fuel, even though its domestic consumption has decreased.
On top of that, the world’s coal capacity reached a new record high of nearly 2,175 gigawatts in 2024, data from Global Energy Monitor showed on Feb. 6. Coal capacity is the overall power output that can be generated from coal-fired power plants.
“The global shift away from coal remains challenging, largely driven by rising demand in Asia, even as Europe and the U.S. see significant declines in coal consumption,” said Dorothy Mei, project manager for Global Energy Monitor’s Global Coal Mine Tracker.
Global coal demand is also expected to have breached another fresh record high of 8.77 billion tonnes in 2024, and will remain at similar levels until 2027, the International Energy Agency predicted.
The world’s second largest economy is also the largest coal consumer globally, accounting for more than 56% of global demand in 2023, latest figures by IEA showed.
China’s record-high coal stockpiling strategy is largely geared toward preparing the country for potential power shortages caused by extreme weather events, said Mei.
There is little focus on using energy efficiently, when coal is so cheap.
Dave Jones
Ember Energy
Hydropower, wind and solar energy made up almost 30% of China’s electricity mix in 2023, data from energy think tank Ember Energy showed. When hydropower output drops as a result of insufficient rainfall, the Chinese government often relies on coal power to ensure energy security, Mei added.
“Additionally, another major barrier is not the availability of renewable energy infrastructure, but the difficulty of transmitting solar and wind power across provinces,” she said, adding that coal will continue to be a “critical energy backbone” in China until grid integration and management is fully developed across the entire country.
In India, climate-induced extreme heat has led to soaring energy demand for cooling, and clean energy sources are not built fast enough to meet the country’s growing power demand, said Mei.
India’s focus on economic and infrastructure development has also boosted the consumption of cement and steel, industries that are heavily reliant on coal, according to analysts CNBC spoke to.
The South Asian nation’s demand for steel is set to grow by 8-9% in 2025, outpacing that of other economies, owing to a pickup in steel-intensive construction in the infrastructure and residential sectors, data from consulting firm Crisil showed.
As recently as last December, India extended its directive for imported coal-based power plants to run at full capacity until Feb. 28.
But that’s not to say that India has been neglecting its renewable energy targets. The country has set an ambitious goal of fulfilling 50% of its electricity needs through renewable energy by 2030. And it has made progress. And as of last October, renewables account for more than 46.3% of the country’s electricity generation capacity, according to India’s Ministry of New and Renewable Energy.
Beyond China and India
Outside of India and China, other top countries building new coal plants are Bangladesh, Indonesia and Vietnam, Global Energy Monitor noted.
Indonesia’s coal production rose to around 831 million tons to notch a fresh high last year, data from the country’s Ministry of Energy and Mineral Resources showed.
And the share of coal in Philippines’ electricity mix surpassed that of China in 2023, becoming Southeast Asia’s most coal-dependent country, Ember Energy reported.
“There is little focus on using energy efficiently, when coal is so cheap,” said Dave Jones, an electricity analyst at energy think tank Ember Energy.
Strong coal demand in Asia across the board is also partly a consequence of the surge in gas prices since Russia’s invasion of Ukraine, given that a number of major thermal coal importers like China, India and Vietnam had scaled back plans for gas-based power buildouts following the high gas prices that ensued, said Ian Roper, commodity strategist at Astris Advisory Japan KK.
The AI factor
Global electricity consumption is expected to keep rising in 2025, the IEA said.
“The world needs more energy, and it needs it now,” said Rob Thummel, senior portfolio manager at Tortoise Capital. “For the global economy to grow, it needs efficient, cost-effective, and reliable energy supply sources,” he told CNBC.
Artificial intelligence has also accelerated the world’s need for energy. Reports have shown that power needs driven by data centers around the world will also prolong the demand for coal.
“The U.S., China and the world are in a race for AI superiority,” said Tim Winter, portfolio manager at Gabelli Funds. AI data centers are huge power users, making it harder to retire a reliable and affordable energy source such as coal, he explained.
By 2030, electricity demand from data centers could exceed 35 GW, more than double the 17 GW recorded in 2022, a report by Moody’s Ratings showed.
Is the energy transition still possible?
With global electricity demand rising faster, other industry watchers are beginning to echo IEA’s forecasts of coal demand remaining at all-time highs.
“There can be no transition when the demand for oil, for natural gas, for coal, continues to hit record highs,” said Eric Nuttall, senior portfolio manager at Ninepoint Partners.
Others are less pessimistic, though they recognized the challenge of reaching those targets in time.
An ongoing pledge toward renewables, alongside a looming surge in global LNG supply may ensure that coal imports continue to weaken in some coal-importing markets, said Roper, who noted that coal consumption has been falling in Europe and Northeast Asia in recent years.
Additionally, if countries commit to its promises of tripling renewables by 2030, coal could start to see a meaningful decline in this decade, said Ember Energy’s Jones.
A Tesla owner reported that he crashed his Cybertruck into a pole after hitting a curb while using Full Self-Driving, Tesla’s advanced driving assist system that Elon Musk claims will be unsupervised this year.
The post is going viral.
Jonathan Challinger, a Florida-based software developer working for Kraus Hamdani Aerospace, reported in a viral post on X that he crashed his Cybertruck into a pole.
He reported that he was driving using Tesla’s Full Self-Driving system, a suite of advanced driver assist (ADAS) features that require driver supervision at all times. However, Tesla claims that it will soon work without driver supervision—hence the name.
Challinger said that he was driving with FSD v13.2.4 on the right lane, which was ending and merging into the left lane, but the car failed to merge and hit the curb.
He said that he failed to react in time and take control of the Cybertruck:
It failed to merge out of a lane that was ending (there was no one on my left) and made no attempt to slow down or turn until it had already hit the curb.
The Cybertruck then crashed into a light post. He was lucky to walkway without a scratch.
To be fair, it was a strange location for a post, but there’s no reason why Tesla FSD shouldn’t have moved lane and even if it wouldn’t have changed lane, it should have hit the curb or post (pictures via TroyTeslike):
Challinger said that he shared the story as a “public service announcement” to tell people to remain attentive when using Tesla’s Full Self-Driving system and not become complacent:
Big fail on my part, obviously. Don’t make the same mistake I did. Pay attention. It can happen. I follow Tesla and FSD pretty closely and haven’t heard of any accident on V13 at all before this happened. It is easy to get complacent now – don’t.
It might be the first crash on Tesla’s latest FSD v13, which CEO Elon Musk has presented as “mind-blowing” and an important step toward achieving “unsupervised self-driving” by the end of the year.
This guy is lucky to be alive, and he is right. There’s a problem with people becoming complacent with FSD, and Tesla, and especially Elon Musk, are not doing enough to prevent that from happening.
On the contrary, Musk continues to hype every update, like Tesla is on the verge of solving self-driving, and claims that its quarterly safety report proves that FSD is safer than human driving, which is misleading.
If Tesla was developing FSD in a vacuum without Elon’s claims that it would be solved every year for the last 5 years and Tesla selling the software package to customers without any clear idea of when it can be achieved or on what hardware, it would be celebrated product.
Instead, it’s a product that is making Tesla lose credibility and potentially dangerous, as we see today.
I myself had the exact same problem that Challinger described where a lane ends, but FSD doesn’t detect it. It’s weird because it works most of the time so you can get this sentiment of complacency and give the system a chance to move. In this case, it evidently went too far.
Be careful out there and stop believing Elon Musk when he talks about self-driving.
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The 2025 Chicago Auto Show opened this week, and I’ve been struggling a bit with how to approach this story about the decline and fall of what was once the American auto industry’s premier commercial vehicle show – but one thing was absolutely clear: the Nissan LEAF is the best new car deal in Chicago. ***
If you have fond memories of the Chicago Auto Show from years past – and not even that many years past; like, pre-COVID years past – skip the 2025 show.
Once upon a time, the Chicago Auto Show occupied both main halls, with another hall housing commercial trucks and vendors, and drive activations outside and in the parking lot. Since that heyday, the show has shrunk significantly. It’s down to a single hall now. Depressingly, the show can’t even fill that with OEM displays, and has worked a number of vendors, drive events of both the EV and ICE-powered varieties, and even military recruiters into huge swaths of floor space. Despite the compacted nature of the displays, the show floor is not packed. You will be able to sit in any car you want, for as long as you want, with minimal chance of interruption.
Oddly enough, we both honed in on a specific year, 1997, as one that stood out.
“I had a part-time job at Sears while I was in college,” I told Greg. “I was making $9/hr. plus either 1% or 3% of everything I rang up. It worked out to a pretty steady $12/hr., and that money was good enough that there were a bunch of cars I could have reasonably bought. I ended up with a ’98 Dodge Dakota pickup. Manual. My payment was $218/mo.”
“Those were neat trucks,” he said. Adding, after a thoughtful minute, “I don’t think you could do that, today.”
Greg is obviously correct. Auto Shows have turned a corner. Instead of being someplace that any able-bodied person could go and, with a reasonable amount of effort and willingness to put in the hours, pick out a fun, dependable vehicle. In such an economic climate, it’s no wonder that the car you drove said something about you above and beyond what you could afford. Today, the closest thing to that mid-sized Dakota is probably the current Ford Ranger. The mid-sized Ford starts at $32,820 … but the average part-time mall job doesn’t pay any more than I made back in ’97. If anything, it pays less.
I wondered what possible value a traditional auto show could offer a college kid in 2025, when something like a base Ford Mustang that started at about $15,800 in 1997 has more than doubled to $31,920 and the cost of college has risen even higher, over 140% in the same interim, while wages have largely stayed the same.
Deeply entrenched in this gloomy mood, I plodded along between the relatively subdued Nissan and Volkswagen booths towards the ComEd presser (see the show map, above), that was already under way.
ComEd $100M commercial EV rebate program
ComEd press conference announcing $100M in EV funding; photo by the author.
ComEd chose the Chicago Auto Show to lay out the 2025 version of their beneficial electrification rebate programs that will offer customers access to $100 million (up from $90M last year) in funding opportunities designed to remove up-front cost as a barrier to widespread adoption of EVs and the expansion of charging infrastructure in northern Illinois. $53 million of that budget is earmarked specifically business and public sector customers, with up to $7500 available for each light-duty (Class 1 or 2) EV purchased by a ComEd commercial customer.
That was when it hit me: this is why local events like the Chicago Auto Show exist — to highlight deals that are unique to the area, that outlets like Motor Trend and Car and Driver and even Electrek (if we’re being honest) might overlook due to factors like geography, international audiences, or some other general lack of interest.
Allow me then, to explain how a parks district, or a police department, or a car sharing fleet, or a delivery fleet, or any other company, incorporation, or LLC in northern Illinois can score an absolutely killer deal on a Nissan LEAF.
Structuring that $9,140 Nissan LEAF deal
2025 Nissan LEAF; via Nissan.
For 2025, Nissan’s groundbreaking LEAF S starts at just $28,140 before incentives. That’s already more than twenty thousand US American dollars less than the $49,740 average transaction price of a new vehicle recorded just last month. But $28,140, you’ll notice, is a lot more than $9,140. Here’s how we get there:
Finally, if you’re a ComEd commercial customer you can score a third rebate — this one good for up to $7,500 if you spend more than 50% of your time driving the vehicle in a low-income or “EIEC” area.
For that $9,140 you get a smooth, capable EV with 149 miles of range* whose only real shortcomings are its relatively slow charging speed* compared to something like a Hyundai IONIQ 5, of course, the CHAdeMO charging standard* that every other brand has abandoned and for which precious few public charging options exist.
And, admittedly, those are three very real, very scary asterisks.
For a business, though? For a parks district or city official or lab courier or car share service that has some dedicated parking space to put their own charging into? That’s not as much of an obstacle as it might be to you and me. Heck, a young, ambitious college student who realizes they can fit a few robot lawnmowers under the LEAF’s spacious 23.6 cubic foot (668 liters) hatch might just find the money needed to start an LLC in Illinois and find any number of fun, expressive, practical news car they can actually pay off with a part-time hustle at the 2025 Chicago Auto Show after all!