Here are the cheapest EVs we could find for lease at under $300/month right now [Update]

Spring is finally here, and so are some solid EV lease deals. Right now, a few EVs are going for under $300 a month. Here are the cheapest EVs we could find 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 about 15 new models arriving.

Nearly 200,000 electric vehicles were sold in the first two months of the year. In February, the top five best-selling models were the Tesla Model Y, Model 3, Honda Prologue, and Rivian R1S.

Outside of Rivian’s electric SUV, you can lease any of them for under $300 a month this March. 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.

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According to Experian, the Tesla Model 3, Model Y, Honda Prologue, Hyundai IONIQ 5, and Chevrolet Equinox are among the most leased EVs. Again, all of these are under $300 a month right now.

Hyundai, Kia, and Genesis

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.

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.

Earlier this week, Hyundai launched a promo giving those who buy or lease a new 2024 or 2025 model year IONIQ 5 or IONIQ 6 a free ChargePoint Level 2 home charger. If you already have one, you can also opt for a $400 public charging credit.

Honda Prologue and Acura ZDX

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. It has now been a top five best-seller in the US for the first two months of 2025.

With an ultra-low lease rate of just $239 per month, the Prologue is even more affordable than a Civic this month. No wonder sales are surging.

Honda launched the 2025 model earlier this month, which has more range (now up to 308 miles) and power but keeps the same low starting price.

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 even 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

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, at $3,879. Keep in mind that the Blazer EV deal also includes a $1,000 trade-in bonus.

The electric Equinox SUV, or “America’s most affordable +315 miles range EV,” as Chevy calls it, is even cheaper than the gas model this month with up to $8,500 in savings.

Ford F-150 Lightning and Mustang Mach-E

Although F-150 Lightning sales are down this year, the Mustang Mach-E remained a top-selling electric SUV through the first two months of 2025

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

Japanese automakers are starting to find their rhythm. Toyota bZ4X and Subaru Solterra sales are picking 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 among cheapest EVs in March

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.

Other EVs for lease for under $300 a month

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.