The Five Cheapest Cars To Lease In August Are All Electric And Hybrid SUVs

Spending too much money on a car is a foolhardy endeavor. Some car enthusiasts may tell you otherwise, but it’s never good to get in over your head on a car that continuously bleeds your bank account dry through refueling, insurance, and maintenance. In such a volatile economy it’s best to stay well within your budget when finding a new car, and right now one of the best ways to do that is by taking advantage of a killer lease deal. As reported by the experts at Cars Direct who analyze hundreds of lease deals to find the cheapest cars to lease, all of the cheapest vehicles to lease right now happen to be electric and hybrid SUVs.

This is good news for people who need a versatile vehicle that can carry your family and most if not all of your family’s stuff. Going electric may be a scary prospect for some folks, but it’s easier now than ever before as more public EV chargers sprout up each day, and some of these vehicles are compatible with Tesla’s vast Supercharging system.

These examples may not have the cheapest monthly payments on paper, but when you consider the amount of money due at signing and spread it across the duration of the lease, something called the effective cost, their monthly costs are lower than all other lease deals analyzed by Cars Direct. Some deals are regional, but these are the cheapest lease deals on the market right now.

The Honda Prologue has the cheapest lease offer on the market right now, though this particular deal is only available in certain states, and it’s not like other deals. It’s a “One Pay Lease” price, which means you pay $4,800 when you sign for the deal, and then you’re done paying for the car. Spread across the 24 month lease term, that equals about $200 per month, making it the cheapest effective cost of any lease deal right now. It’s for a 24-month lease with a mileage allowance of 10,000 miles per year.

This deal isn’t necessarily ideal for people who need small monthly payments, but if you can cover the $4,800 cost due at signing, it makes for a screaming deal on this midsize electric SUV. This deal is only offered in the following states: CA, CO, CT, Washington DC, DE, FL, MD, ME, MN, MA, NH, NJ, NY, OR, PA, RI, VA, VT, WA, and WV. The offer expires on September 2. Honda just began offering an NACS adapter that allows the Prologue to charge at Tesla Superchargers, which vastly increases the number of public chargers owners can access.

Right now, Volkswagen has a great lease deal for the ID 4 Pro RWD in California, Arizona, and Nevada. It requires $2,499 due at signing and $129 per month for 24 months with a mileage allowance of 10,000 miles per year. When spread equally across the 24-month lease period, the effective cost is $233 per month. This deal is available through September 30, so it allows you an extra month to weigh your options before committing to the lease.

This is a better deal for people looking for a lower down payment than the Prologue, though the availability of this great lease deal is much more geographically limited. The ID 4 Pro RWD trim has an acceptable EPA maximum range estimate of 291 miles, and Volkswagen says it should be offering NACS adapters by now to allow its EVs to access the Tesla Supercharger network.

This is a fantastic deal on a fun SUV, but it has a very limited scope. It’s exclusively available in the state of California, and it’s only advertised for Wrangler 4xe Sport S vehicles with equipment package 29U. The lease deal is $149 per month for 24 months with $3,309 due at signing, and it only includes a very low mileage limit of 5,000 miles per year. Cars Direct says there are similar deals in other regions, but this is the best lease deal on the Wrangler 4xe plug-in hybrid at the moment with an effective cost of $287 per month.

This is the only hybrid vehicle on this list of cheap leases, so if you’re not ready to fully commit to an EV lifestyle, this offers a way to dip a toe in. The 29U equipment package is the Customer Preferred Package that includes desirable features like LED headlights, a trailer tow package, and the Convenience Group, Technology Group, and Active Safety Group packages, worth $8,440. Again, it’s a very limited lease, but you can always go over the mileage allotment and pay per-mile after the fact and it may still end up being a great deal depending on your needs.

Subaru is offering its 2025 Solterra Premium for $279 per month for 36 months with $279 due at signing and a mileage limit of 10,000 miles per year. This lease deal is currently only advertised for the Los Angeles area, so check for deals in your region, but this is a very cheap lease with an effective cost of $287 per month.

The 2025 Solterra isn’t the most advanced EV, but it’s better than earlier Solterras, and it still comes standard with dual-motor all-wheel-drive. It received updates for the 2024 model year which improved its maximum charging speeds, but its maximum estimated range is lower than most other EVs at just 227 miles on a full charge.

The cheapest lease deal for the 2025 Hyundai Ioniq 5 is on the rear-wheel-drive SE trim with the standard range battery, and it’s currently available in California. The deal is $149 per month for 36 months with $3,999 due at signing, and a mileage limit of 10,000 miles per year. Though this particular deal is only advertised in California, Cars Direct says there are similar Ioniq 5 lease deals in other regions, too, so be sure to check what’s available in your region.

The effective cost of this lease deal is $260 per month, which is a great deal on a great car. For 2025 Hyundai refreshed the Ioniq 5, giving it an NACS charge port that allows it to easily access the Tesla Supercharger network. If you don’t want a base model, the Ioniq 5 SEL also has a great lease deal with the same terms for $189 per month, bumping the effective cost up to $300 per month.