Best EV, Plug-In, and Hybrid Car Leases & Deals: November 2022

2022 Ford Escape Hybrid

• Best Deal: 0% APR for 36 months
• MSRP: From $31,660
• Fuel Economy: 41 MPG

What's Hot: Ford is offering zero-interest financing on the 2022 Escape Hybrid, making this one of the only ways to score no interest on a hybrid this month. If you're unlikely to choose a 3-year loan, there are also 4-year and 5-year rates at 0.9% APR and 1.9% respectively. As mentioned with the Mach-E, we're still awaiting Ford's holiday deal announcements, so stay tuned for potential Black Friday savings.

Worth Knowing: Escape deals vary by region and we tend to find that this model isn't stocked in large numbers. The examples here are based on offers in California, but we recommend checking with local dealers to inquire about inventory near you. Get Customized Escape Hybrid Pricing »

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All EV Lease Deals

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All Plug-In Hybrid (PHEV) Lease Deals

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All Hybrid Lease Deals

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Government EV Tax Credit

EVs and plug-in hybrids may be eligible for a $7,500 federal tax credit, though recent changes as a result of the Inflation Reduction Act have had a dramatic effect on prices. That's because of a new final assembly requirement that limits the tax credit to vehicles assembled in the United States after August 16, 2022.

As a qualified EV buyer, you may be able to claim the full tax credit. However, on a lease, the lender holds the title and therefore gets the tax credit. Some brands pass along the tax credit as lease cash. Unfortunately, some car brands actually keep the tax credit rather than lower the price of their vehicles.

We recommend consulting with a tax professional to determine your eligibility. In some cases, EV leases may not offer the same advantage as buying one in 2022.

How It Works: EV Tax Credit

Free State Plug-In Rebate Incentives

A number of states offer plug-in rebates for qualifying vehicles. For example, the California Clean Vehicle Rebate Project, or CVRP rebate, also offers a $2,000 incentive after purchasing or leasing an eligible vehicle. Most EVs and plug-in hybrids are eligible, though there is now an MSRP cap that excludes Teslas and some higher-end vehicles.

The California Clean Fuel Reward offers up to $750 in upfront savings on EVs and a smaller rebate on PHEVs based on battery size. For example, a Toyota bZ4X qualifies for a $750 Clean Fuel Reward, whereas the Prius Prime gets just $450. Teslas remain eligible. The Clean Fuel Reward was temporarily reduced to $0 due to funding limitations in September 2022.

Free HOV Lane Access For EVs

Depending on where you live, there may be a big benefit for commuters looking to buy an EV. In California, Clean Air Vehicle Decals issued by the Department of Motor Vehicles can get eligible drivers free use of High Occupancy Vehicle (HOV) lanes. Carpool lane access could help shave time off your commute.

The CAV decal program does have some tradeoffs, however. For example, rules implemented back in 2018 no longer allow buyers to also take advantage of the Clean Vehicle Rebate (CVRP) unless they meet special income requirements. The California DMV has an informative FAQ page outlining the requirements.

Free Parking For EVs

In some parts of the country, EV owners may have special privileges compared to regular internal combustion vehicles.

For example, the city of Santa Monica, California says "properly displayed Clean Air Vehicle decals & ZEV decals allow you to park at any on-street, metered parking space in Santa Monica without charge for the maximum amount of time allowed by that meter."

The decals are issued by the California Department of Motor Vehicles.

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