I begin many of my blogs this way, but it remains true — life is really expensive right now, and I have no idea how people can afford a brand-new car in this economy. The sole bright spot that I can find in the wake of the nonsensical Trump-induced tariff and EV credit chaos is that automakers are eager to move as many electric vehicles as possible before incentives disappear.
If you need a new car but your bank account has other ideas, I implore you to check out some of the absurdly cheap lease deals that car makers are offering on their electric SUVs right now. Leasing a car is not the same as buying, but taking advantage of one of these killer lease deals could hold you over until you save enough money to buy something else or buy the car out at the end of the lease term.
These deals are reported by Cars Direct, and some are regional or dependent on other discounts, but I will be clear about that. I’m ranking these deals based on their “effective cost,” which takes into account the advertised monthly payment and the money due at signing, split evenly across the lease period. Check out the Cars Direct website for more detailed information based on your location.
Sub $300-per-month leases
The cheapest lease deal currently available is the 2025 Honda Prologue EX, though it’s only available in California and other CARB-emission states. Honda is offering its “One Pay Lease” which means you pay $4,800 up front, and you pay nothing else for the rest of the 24-month lease term.
If you split the $4,800 up-front payment equally across the 24 months of the lease term, it balances out to just $200 per month. This price includes an admittedly low annual mileage limit of 10,000 miles per year, but you can always go over that limit and pay the fee per mile.
The second-cheapest lease deal currently available is for the 2025 Volkswagen ID 4 Pro RWD, which is advertised at $129 per month for 24 months with $2,499 due at signing and a 10,000-mile annual limit. This equates to an effective cost of just $233 per month, which is a great price to pay for two years with a $45,000 SUV.
The third-cheapest lease currently available is the 2025 Subaru Solterra Premium, and it’s the only 36-month lease that’s available with an effective cost that’s less than $300 per month. It’s advertised at $279 per month for 36 months with $279 due at signing, which equates to an effective cost of $287 per month. It still has a 10,000-mile annual mileage limit, but it’s also still a screaming deal.
Lease deals with effective costs at or above $300 per month
The brand new, NACS-port-equipped 2025 Hyundai Ioniq 5 SEL RWD is currently advertised for lease at $189 per month for 36 months with $3,999 due at signing. That comes out to an effective cost of $300 per month, which might be the best deal on this list given what a wonderful vehicle the Ioniq 5 is. This deal also offers an annual mileage limit of 10,000 miles per year, but again, it’s a killer deal on a great SUV, and it’s the SEL trim so you won’t end up in a base model.
The 2025 Toyota bZ4X XLE is the final electric SUV on this list, with a still solid 36-month lease deal of $199 per month with $3,999 due at signing. When combined, that equals an effective cost of $310 per month with an annual mileage limit of 10,000 miles per year. The lease for the bZ4X’s Subaru Solterra twin is cheaper, but both are still good deals, all things considered.
These are limited-time offers
Most of these deals are only advertised to be available through the end of July, with some extending a bit further. The Honda Prologue lease deal is advertised to last the longest, expiring on September 2, and the Toyota bZ4X deal expires on August 4, but all the other deals are set to expire on July 31. It’s not necessarily crunch time just yet, but it’s better to act fast — you never know when Trump will change things up again.
Leasing an EV is a great way to dip a toe into the life of an EV owner, and at these wildly low prices it’s a relatively low risk experiment. While none of the vehicles on this list are particularly exciting, they are all supremely practical and versatile which often takes precedence over excitement in the real world. Some of these deals are regional, so be sure to check prices in your region, and use the resources at Cars Direct for more information.
