These are the cheapest EVs you can lease in March at under $300 a month
Spring is just around the corner and the EV deals are heating up. Right now, several electric models are available to lease for under $300 a month, making it a great time to make the switch (or upgrade). Here are the cheapest EVs you can lease this March.
Cheapest EVs you can lease this March
After a record year with over 1.3 million EVs sold in the US in 2024, the trend is expected to continue in 2025 with around 15 new models arriving.
January marked the tenth straight month with over 100,000 EVs sold in the US. The top five selling models, the Tesla Model Y, Model 3, Volkswagen ID.4, Tesla Cybertruck, and Honda Prologue, accounted for over 50% of total sales in the month.
Outside of the Cybertruck, all of them can also be leased for under $300 a month. With the average monthly lease payment for an electric car $175 less per month than the average loan, it’s no wonder buyers are choosing to lease.
According to the Xperian’s Q4 market report, the Tesla Model 3, Model Y, Honda Prologue, Hyundai IONIQ 5, and Chevrolet Equinox were among the most leased EVs, all of which are under $300 a month right now.
Hyundai, Kia, and Genesis
| Lease From | Term (months) |
Due at Signing | Effective rate per month (including upfront fees) |
|
| 2025 Kia Niro EV | $129 | 24 | $3,999 | $295 |
| 2024 Kia EV6 | $179 | 24 | $3,999 | $345 |
| 2024 Hyundai IONIQ 5 | $189 | 24 | $3,999 | $355 |
| 2025 Hyundai IONIQ 5 | $229 | 24 | $3,999 | $395 |
| 2024 Hyundai IONIQ 6 | $149 | 24 | $3,999 | $315 |
| 2025 Hyundai IONIQ 6 | $169 | 24 | $3,999 | $335 |
| 2025 Genesis GV60 | $299 | 24 | $5,999 | $548 |
Kia and Hyundai continue to offer some of the most affordable, efficient electric vehicles on the market. The Niro EV is one of the cheapest EVs you can lease this month at just $129 per month.
Meanwhile, the new 2025 IONIQ 5 (now with more range and a Tesla NACS charging port) and IONIQ 6 are arriving with big discounts. Even the luxury 2025 Genesis GV60 can be leased for under $300 a month this March.
Honda Prologue and Acura ZDX
| Lease From | Term (months) |
Due at Signing | Effective rate per month (including upfront fees) |
|
| 2024 Honda Prologue | $239 | 36 | $1,399 | $335 |
| 2024 Acura ZDX | $299 | 24 | $2,999 | $424 |
Honda’s electric SUV continues to take the US market by storm. In the second half of 2024, the Prologue was the second best-selling electric SUV behind the Tesla Model Y. With an ultra-low lease rate of just $239 per month, the Prologue is even more affordable than a Civic this month.
Acura’s luxury electric SUV can be leased for as low as $299 for 24 months. With only $2,999 due at signing, the ZDX is cheaper than the Genesis GV60 thanks to generous discounts. In some states, ZDX discounts reach as high as $28,000, also making it more affordable than a Civic to lease this month.
Chevy Blazer and Equinox EVs
| Lease From | Term (months) |
Due at Signing | Effective rate per month (including upfront fees) |
|
| 2024 Chevy Equinox EV | $299 | 24 | $3,169 | $431 |
| 2024 Chevy Blazer EV | $299 | 24 | $3,879 | $461 |
Chevy’s new electric SUVs are quickly rolling out. The electric Equinox was among the top five best-selling EVs in the final three months of 2024. Both can be leased for under $300 a month this March. The Blazer EV is still slightly more expensive with $3,879. The Blazer deal also includes a $1,000 trade-in bonus.
Ford F-150 Lightning and Mustang Mach-E
| Lease From | Term (months) |
Due at Signing | Effective rate per month (including upfront fees) |
|
| 2024 Ford Mustang Mach-E | $213 | 36 | $4,462 | $337 |
| 2024 Ford F-150 Lightning | $233 | 24 | $6,792 | $421 |
Although F-150 Lightning sales are down this year, the Mustang Mach-E remains a top-selling electric SUV behind Tesla’s Model Y, Honda’s Prologue, and the Hyundai IONIQ 5.
Ford is sweetening the deal with a free Level 2 home charger for any EV purchase or lease through its “Power Promise” along with a host of other benefits.
Toyota bZ4X and Subaru Solterra
| Lease From | Term (months) |
Due at Signing | Effective rate per month (including upfront fees) |
|
| 2025 Toyota bZ4X | $259 | 36 | $2,999 | $342 |
| 2024 Subaru Solterra | $279 | 36 | $279 | $287 |
Toyota bZ4X and Subaru Solterra sales are starting to pick up. With an effective cost of only $287 per month, the Solterra may be the better option this month with standard AWD.
Tesla Model Y, Model 3 still among cheapest EVs in March
| Lease From | Term (months) |
Due at Signing | Effective rate per month (including upfront fees) |
|
| Tesla Model Y | $299 | 36 | $2,999 | $382 |
| Tesla Model 3 | $299 | 36 | $2,999 | $382 |
Tesla’s Model Y and Model 3 are still the best-selling EVs in the US and at under $300 a month, some of the cheapest you can lease this March.
Some of these rates may vary by region. The $239 per month Honda Prologue lease deal is offered in California and other ZEV states. Acura’s $299 ZDX promo is only available in CA, NY, OR, and other select states.
In other parts of the country, the Prologue is still listed at just $269 per month for 36 months. With $3,199 due at signing, the effective cost is still just $358 per month. However, a $1,000 conquest or loyalty offer can lower monthly payments to around $330.
With the Trump administration looking to end federal EV incentives, including the $7,500 tax credit, many of these savings could disappear soon. Automakers can offer such low lease prices right now largely because the tax credit is factored in.
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Elon wants the US military to start buying Tesla Cybertrucks – and now they are! The Air Force has ordered two Cybertruck testers for target practice to determine how easy they are to blow up, while Jo makes up a whole new conspiracy theory on today’s explosive episode of Quick Charge!
Today’s episode is brought to you by retrospec—makers of sleek, powerful e-bikes and outdoor gear built for everyday adventure. Electrek listeners can get 10% off their next ride until August 14 with the exclusive code ELECTREK10 only at retrospec.com.
An it doesn’t stop there. We’ve also got exciting new home battery backup and V2X options for Tesla owners, and one Texas EV driver that decided to conquer the Texas floodwaters by harnessing the awesome combined powers of electrons and stupidity (it’s pretty awesome).
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Tesla’s Dojo supercomputer project is reportedly over. Bloomberg reports that CEO Elon Musk is killing the project after a mass exodus of talent from the Dojo team to a competing startup.
Dojo was the name of Tesla’s in-house AI chip development to create supercomputers to train its AI models for self-driving.
Tesla hired a bunch of top chip architects and tried to develop better AI accelerator chips to rely less on companies like NVIDIA, AMD, and others.
It has been running into delays for years.
We previously reported on significant setbacks. In 2018, Jim Keller, the famed chip architect who was first hired to lead Tesla’s chip-making effort, left the company.
Ganesh Venkataramanan succeeded him, but he left Tesla in 2023.
For the last few years, Peter Bannon, who worked with Keller for years, has been leading Tesla’s chip-making programs, but he is now reportedly also leaving the automaker.
Bloomberg reports that Musk has “ordered the effort to be shut down.”:
Peter Bannon, who was heading up Dojo, is leaving and Chief Executive Officer Elon Musk has ordered the effort to be shut down, according to the people, who asked not to be identified discussing internal matters. The team has lost about 20 workers recently to newly formed DensityAI, and remaining Dojo workers are being reassigned to other data center and compute projects within Tesla, the people said.
DensityAI is a new startup currently in stealth mode, founded by several former Tesla employees, including Venkataramanan.
It reportedly plans to build chips for AI data centers and robots, much like the Dojo program.
The company recently hired 20 former Tesla employees who worked on Dojo.
While the program appeared to be lagging behind for years as Tesla increasingly bought more compute power from NVIDIA, Musk has been claiming progress.
The CEO said in June:
Tesla Dojo AI training computer making progress. We start bringing Dojo 2 online later this year. It takes three major iterations for a new technology to be great. Dojo 2 is good, but Dojo 3 will be great.
During Tesla’s quarterly conference call in late July, the CEO claimed that Dojo 2 will be “operating at scale sometime next year.”
Electrek’s Take
It’s unclear whether the report is accurate or if it’s an extrapolation from the talent exodus to Elon killing Dojo, or if Elon was lying just a few weeks ago.
Alternatively, this development may be so recent that Elon went from being confident in Dojo a few weeks ago to disbanding the team working on it now.
Either way, I think it’s clear that the project has been lagging, and Tesla has been extremely dependent on chip suppliers rather than making its own.
I think Dojo being likely dead is not a big loss for Tesla.
When it comes to chip making, developing its own inference compute for onboard “AI computers” was always the more important project.
TSMC is set to produce Tesla’s new AI5 chip, which is coming soon, and we have recently learned that Samsung will be manufacturing its AI6 chip.
I think the bigger concern from this report is that it’s the latest example of an ongoing exodus of talent at Tesla.
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Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., listens during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021.
Eva Marie Uzcategui | Bloomberg | Getty Images
Block shares jumped in extended trading on Thursday after the fintech company increased its forecast for the year.
Here is how the company did, compared to analysts’ consensus estimates from LSEG.
- Earnings per share: 62 cents adjusted vs. 69 cents expected
Block doesn’t report a revenue figure, but said gross profit rose 14% from a year earlier to $2.54 billion, beating analysts’ estimates of $2.46 billion for the quarter. Gross payment volume increased 10% to $64.25 billion.
Block raised its guidance for full-year gross profit to $10.17 billion, representing 14% growth from a year earlier. In its prior earnings report, Block said gross profit for the year would come in at $9.96 billion.
The company expects full-year adjusted operating income of $2.03 billion, or a 20% margin. For the third quarter, the company expects gross profit to grow 16% from a year ago to $2.6 billion, with an operating margin of 18%.
Square payment volume in the quarter grew 10% from a year earlier.
Block faces growing competition from rivals such as Toast and Fiserv‘s Clover, though its Square business still gained share during the quarter in areas such as retail and food and beverage.
Block shares were down 10% this year as of Thursday’s close, while the Nasdaq is up 10%. Last month, Block was added to the S&P 500.
— CNBC’s Robert Hum contributed to this report.
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