EV tax credit ending spurs hot lease rush, price as low as $0 per month

As the EV tax credit approaches its deadline on September 30, automakers and dealerships are unleashing unprecedented promotions, including “$0 monthly” offers and deep-discount leases. The rush to move inventory has intensified, and shoppers are seeing some of the lowest advertised payments of the year tied to the EV tax credit window.

According to Motor1, the Honda Prologue electric SUV is being advertised at select stores in California, New York, and New Jersey with a “$0 monthly” lease. The offer requires a $3,799 down payment on a 24-month term with 10,000 miles per year, and is limited to certain dealerships in those states.

Other deals are appearing across brands. As of September 18, Keyes Hyundai in Van Nuys listed the Hyundai Ioniq 6 at $96 per month on a 24-month lease with $3,999 down. Cerritos Kia advertised the 2025 Kia Niro EV at $99 per month for 24 months with the same $3,999 down payment. Some Volkswagen dealerships promoted the 2025 ID.4 at $129 per month with $2,495 down on a 24-month lease. Northridge Chevrolet offered the Chevrolet Equinox EV at $99 per month for 24 months with $3,360 down.

Industry watchers say recently increased tariffs on imported vehicles could make budget-friendly EV purchases harder going forward. Analysts note that the period just before the EV tax credit ends may represent a last, short window to secure unusually low payments.

Experts also point to strong values beyond the most aggressively discounted models. Citing Edmunds, several EVs and PHEVs under $35,000 combine price and performance.

The Nissan Leaf carries a $28,140 MSRP and delivers an EPA-rated 212-mile range per charge. Edmunds highlights its smooth ride and quiet cabin, while noting limited cargo space and shorter range than rivals.

The Hyundai Kona Electric starts at $32,975 with an estimated 261-mile range. With a DC fast charger, it can go from 10% to 80% in about 43 minutes. Handling is described as average, but overall value and ease of driving and parking earn praise.

The Chevrolet Equinox EV starts at $33,600 and offers an estimated 319-mile range. Chevrolet promotes it as the most affordable U.S. EV with over 315 miles of range. Edmunds rates it 7.5 for performance, 8.5 for comfort, and 10 for range/efficiency, and notes more than 15 safety and driver-assist features.

Among PHEVs, the 2025 Toyota Prius PHEV is priced at $33,375 and provides 44 miles of electric-only driving before the gasoline engine takes over. It’s especially suitable for drivers who average under 40 miles per day and can charge frequently. The Kia Niro PHEV starts at $34,490, with 33 miles of electric range. Edmunds cites excellent fuel economy and a refined interior, while pointing out the lack of an all-wheel-drive option; it assigns 8 for performance and 8.5 for both comfort and technology.

BY HOONSIK WOO [woo.hoonsik@koreadaily.com]