How much does it cost to lease these two popular electric cars?
CarsDirect has gotten into the new habit of sending us regular updates on EV lease deals. This recent share may be the most interesting yet, as the website has worked to get a lease price for the $35,000 Standard Range Tesla Model 3, which is not available on the Tesla's website.
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Since you can't order a "base" Model 3 on the Tesla website site, you certainly can't figure out the actual lease payment. Currently, as we look at the automaker's site, we see that the estimator shows a Standard Range Plus Model 3 ($39,500) with $4,199 due at signing will set you back $504 per month for 36 months on a 10,000-mile lease.
CarsDirect did some research on a Standard Range Model 3 lease, which it says required jumping through some hoops. Fortunately, they were able to get an answer from Tesla Finance. CarsDirect senior pricing analyst Alex Bernstein shares:
According to Tesla Finance, the Model 3 Standard can be leased from $469 for 36 months with $5,115 due at signing. That's based on an MSRP of $36,200 with destination and includes an allowance of 10,000 miles per year.
Plan to drive more? Extending that to 12,000 miles increases the payment to $479. With 15,000 miles, the payment is $499. As previously announced by Tesla, it's important to note that there's no purchase option once the contract is up.
So, how does a lease deal on the all-new 2019 Kia Niro EV compare?
CarsDirect did an analysis of dealer incentive bulletins to learn that the Niro EV ($39,495 including destination) will come with a monthly lease payment of just $319 for 36 months with $3,999 due at signing. According to CarsDirect:
The deal includes a yearly allowance of 10,000 miles and equates to an effective cost of $430/month before taxes & fees. Kia is including $8,000 in discounts, including the full $7,500 federal tax credit and a $500 factory incentive.
The website says that the Niro EV lease deal seems to offer better value than leasing a Hyundai Kona Electric, which is advertised at $369 for 36 months with $3,899 at signing for a 12,000-mile per year lease.
Keep in mind that lease deals vary geographically, so reach out to your local dealer for details. If you want to lease a Model 3 Standard, you'll need to get in touch with Tesla directly.
For full details about these lease deals, follow the source links below.