Best EV, Plug-In, and Hybrid Leases & Deals: February 2021

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Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - February 4, 2021

We’ve uncovered the best EV lease deals in February, plus plug-in rebates and hybrid car deals worth knowing about. Despite not being cheap on paper, plug-ins and other clean-energy cars can often be surprisingly affordable when leased. In some cases, they can even be cheaper than regular internal combustion cars.

0% financing, lease incentives, and EV tax credits can make it a great time to buy. You may even be eligible for additional plug-in rebates. For example, those in California can take advantage of the Clean Vehicle Rebate worth up to $2,000 plus the new Clean Fuel Reward worth as much as $1,500.

Be sure to follow our special Presidents' Day deal coverage for possible updates.

Best EV Leases & Deals

  • Best Deal: 0% APR plus up to $7,750
  • MSRP: $38,245
  • Fuel Economy: 118 MPGe
  • Range: 259 miles

What's Hot: Chevy brought back crazy 84-month APR deals on a wide range of models. In the case of the 2020 Bolt EV, you can get 0% APR for 84-months plus $7,000 in down payment assistance cash. If you're coming from a non-GM brand, you can also get a $750 conquest bonus for $7,750 in potential savings.

Your alternative is a $8,500 rebate plus GM Employee Pricing. On a well-equipped Bolt Premier, Chevy says that's worth up to $11,383 off MSRP. We suspect buyers will probably find the finance offer a better deal in order to lower their monthly payment with the best APR deal we've seen to date.

Worth Knowing: If you're looking to take advantage of killer deals on used EVs, the Bolt reigns supreme. Last month, Chevy introduced 0% APR for 72 months on factory-certified pre-owned Bolts. That's an unprecedented deal you can enjoy through March 1. Customize Offer »

  • Best Deal: Up to $13,500 in savings
  • MSRP: From $43,995
  • Fuel Economy: Up to 101 MPGe
  • Range: Up to 305 miles

What's Hot: Although there isn't a rebate from Ford, you can actually get a $2,500 discount when you choose Ford Options Plan. That involves balloon financing and can potentially save you a good deal of money compared to leasing.

In addition, a $7,500 tax credit can bring your savings to $10,000. Beyond that, those in California may qualify for a $2,000 Clean Vehicle Rebate and $1,500 Clean Fuel Reward. Altogether, that's $13,500 in offers available for the taking.

Worth Knowing: Unlike most EVs, Ford isn't passing the tax credit along to lessees in the form of lease cash. Ford Options Plan may be affordable, but you'll probably want to ensure you're eligible for the full credit. Customize Offer »

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Best Plug-In Hybrid (PHEV) Leases & Deals

Kia Niro PHEV
  • Best Deal: Lease from $199 for 36 months
  • Due at Signing: $2,499
  • Mileage: 10,000 miles/year
  • MSRP: From $30,610
  • Fuel Economy: 105 MPGe
  • Range: 26 mi (EV), 560 mi (EV + Gas)

What's Hot: Last month, a price cut resulted in the Niro PHEV having the exact same payment as the regular Niro. That deal has been extended, providing an affordable upgrade despite a big difference in price. For reference, the EV is normally $4,900 higher when comparing MSRPs.

Worth Knowing: The Niro isn't as readily available as other Kias at dealers. This is also a regional offer in the following states: CA, CO, DE, FL, HI, IL, IN, ME, MI, MN, ND, NE, OH, PA, UT, VT, WI, and WY. The price does not reflect state & local incentives. Customize Offer »

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Best Hybrid Leases & Deals

  • Best Deal: Lease from $199 for 36 months
  • Due at Signing: $1,999
  • Mileage: 12,000 miles/year
  • MSRP: From $24,644
  • Fuel Economy: Up to 52 mpg overall

What's Hot: We still can't get over the fact that the Corolla Hybrid is just $10/month more to lease than a regular Corolla. In addition to being one of the best deals on a hybrid, it's also one of the best leases on any car. You can thank a better interest rate based on offers here in Southern California.

Worth Knowing: Prices vary in other parts of the country but we're seeing good opportunities to save. For example, those in Florida can take advantage of 0% APR for 60 months. Customize Offer »

  • Best Deal: Lease from $189 for 36 months
  • Due at Signing: $2,799
  • Mileage: 10,000 miles/year
  • MSRP: $28,755
  • Fuel Economy: Up to 52 mpg overall

What's Hot: Sonata Hybrid deals continue to impress with prices that can sometimes rival typical midsize cars. With an effective cost of $267/month, Hyundai's latest deal is $10 cheaper than January and is considerably more affordable than a regular Toyota Camry lease here in Southern California.

Worth Knowing: Offers in other parts of the country may be more expensive. 2020 was a short model year for the redesigned hybrid, which is part of the reason why offers have improved so quickly on the 2021 model. Customize Offer »

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All EV Lease Deals

Effective Cost Model Monthly Payment Term Due at Signing Region Customize Offer
$227 2021 Nissan LEAF S $199 36 $1,000 Los Angeles, CA Customize Offer
$230 2020 Hyundai Ioniq Electric Base EV (California) $169 36 $2,199 California Customize Offer
$245 2020 Nissan LEAF SV 40 kWh (Incl. $1,000 Bonus Cash) $238 36 $238 Los Angeles, CA Customize Offer
$253 2020 Chevrolet Bolt EV LT (San Francisco, GM/Non-GM Lease Bonus) $246 36 $246 San Francisco, CA Customize Offer
$283 2021 Chevrolet Bolt EV LT (San Francisco, GM/Non-GM Lease Bonus) $276 39 $276 National Customize Offer
$291 2020 Chevrolet Bolt EV LT (GM/Non-GM Lessees) $284 39 $284 National Customize Offer
$296 2020 Kia Niro EV EX $199 36 $3,499 CA, CO, DE, FL, HI, IL, IN, ME, MI, MN, ND, NE, OH, PA, UT, VT, WI, WY Customize Offer
$320 2021 Chevrolet Bolt EV LT (GM/Non-GM Lessees) $312 39 $312 National Customize Offer
$360 2021 Hyundai Kona Electric SEL $249 36 $3,999 Los Angeles, CA Customize Offer
$684 2021 Ford Mustang Mach-E Select Standard Range EV (Balloon Finance Estimate) $565 36 $4,290 California Customize Offer
$787 2021 Audi e-tron Quattro Premium Plus Sportback $679 36 $3,894 Los Angeles, CA Customize Offer
$886 2020 Jaguar I-PACE S $719 36 $5,995 National Customize Offer

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All Plug-In Hybrid (PHEV) Lease Deals

Effective Cost Model Monthly Payment Term Due at Signing Region Customize Offer
$277 2021 Toyota Prius Prime LE (Incl. $1,000 Bonus) $249 36 $999 Southern California Customize Offer
$282 2020 Kia Niro Plug-In Hybrid LX $199 36 $2,999 CA, CO, DE, FL, HI, IL, IN, ME, MI, MN, ND, NE, OH, PA, UT, VT, WI, WY Customize Offer
$283 2020 Hyundai Ioniq Plug-In Hybrid SE PHEV $219 36 $2,299 Los Angeles, CA Customize Offer
$297 2021 Honda Clarity Plug-In Hybrid Base $219 36 $2,799 CA, CT, MA, MD, ME, NJ, NY, OR, RI, VT Customize Offer
$384 2020 Mitsubishi Outlander PHEV SEL AWD $279 36 $3,778 National Customize Offer
$518 2021 Toyota RAV4 Prime SE AWD (Estimated Payment) $432 36 $3,082 Southern California Customize Offer
$533 2021 Volvo S60 T8 Recharge R-Design $429 36 $3,729 Los Angeles, CA Customize Offer
$567 2021 Audi Q5 55 e Premium PHEV $459 36 $3,894 Los Angeles, CA Customize Offer
$648 2021 Volvo XC60 T8 Recharge Inscription Expression $529 36 $4,279 Los Angeles, CA Customize Offer
$785 2021 Volvo XC90 T8 Recharge Inscription Expression $645 36 $5,045 Los Angeles, CA Customize Offer

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All Hybrid Lease Deals

Effective Cost Model Monthly Payment Term Due at Signing Region Customize Offer
$229 2020 Hyundai Ioniq Hybrid Blue $179 36 $1,799 Los Angeles, CA Customize Offer
$255 2021 Toyota Corolla Hybrid LE $199 36 $1,999 Southern California Customize Offer
$267 2021 Hyundai Sonata Hybrid Base $189 36 $2,799 Los Angeles, CA Customize Offer
$268 2020 Kia Niro LX $199 36 $2,499 CA, CO, DE, FL, HI, IL, IN, ME, MI, MN, ND, NE, OH, PA, UT, VT, WI, WY Customize Offer
$277 2021 Toyota Prius L Eco (Incl. $500 Bonus) $239 39 $1,499 Southern California Customize Offer
$324 2020 Honda CR-V Hybrid LX AWD Hybrid $249 36 $2,699 National Customize Offer
$325 2021 Toyota Camry Hybrid LE Hybrid Sedan $269 36 $1,999 Southern California Customize Offer
$341 2021 Honda Accord Hybrid Base Hybrid Sedan $249 36 $3,299 National Customize Offer
$351 2021 Honda CR-V Hybrid EX Hybrid $259 36 $3,299 National Customize Offer
$355 2021 Toyota RAV4 Hybrid LE AWD $299 36 $1,999 Southern California Customize Offer
$405 2021 Toyota Venza LE Hybrid $349 36 $1,999 Southern California Customize Offer
$412 2021 Honda Insight LX Hybrid (Estimated Payment) $401 36 $401 National Customize Offer
$416 2021 Lexus UX UX 250h $339 39 $2,999 CA, CO, NM, OR, WA & More Customize Offer
$426 2021 Kia Sorento Hybrid S 1.6T Hybrid FWD $329 36 $3,499 CA, CO, DE, FL, HI, IL, IN, ME, MI, MN, ND, NE, OH, PA, UT, VT, WI, WY Customize Offer
$431 2021 Toyota Highlander Hybrid LE (Incl. $500 Bonus) $389 36 $1,499 Southern California Customize Offer
$445 2021 Toyota Sienna LE AWD Hybrid $389 36 $1,999 Southern California Customize Offer
$450 2021 Lexus ES ES 300h Base Hybrid $339 36 $3,999 CA, CO, NM, OR, WA & More Customize Offer
$452 2021 Lexus NX NX 300h AWD $369 36 $2,999 CA, CO, NM, OR, WA & More Customize Offer
$550 2021 Lexus RX RX 450h Premium $439 36 $3,999 CA, CO, NM, OR, WA & More Customize Offer
$620 2021 Lexus RX RX 450hL Premium $509 36 $3,999 CA, CO, NM, OR, WA & More Customize Offer

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, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

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