Best EV, Plug-In, and Hybrid Car Deals In October

By

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 - October 13, 2020

We’ve uncovered the best EV lease deals in October, plus plug-in rebates and hybrid car discounts. Apart from often being great to lease, zero and partial-zero emissions vehicles can also offer consumers incentives like federal tax credits and both state & local rebates.

Although rates on gas-guzzling trucks and SUVs have gone up, our analysis finds that deals on plug-ins have been excellent. Since EV and plug-in discounts generally favor leasing vs. buying, we've also listed every lease at the bottom of this page.

For additional insights, read our analysis of what coronavirus means for car buyers as well as our comprehensive of all manufacturers offering incentives in the wake of COVID-19.

Update (10/13/20): Hyundai has cut lease pricing (again) on the Ioniq EV to $189/mo

Best EV Deals

  • Best Deal: Lease from $184 for 36 months
  • Due at Signing: $184
  • Mileage: 12,000 miles/year
  • MSRP: $38,245
  • Fuel Economy: 118 MPGe
  • Range: 259 miles

What's Hot: Costco members are eligible for a $3,000 discount that can bring the price of a Bolt LT down to just $184/month with $184 at signing. Those in San Francisco can get an extra $1,400 off, resulting in a $145/month, $145 down lease that ranks as the cheapest lease in America.

Worth Knowing: The deal in question includes a $1,500 discount for coming from another lease. Alternatively, deals for buying involve a new 0.9% financing offer for 72 months plus as much as $7,350 cashback. Customize Offer »

  • Best Deal: Lease from $199 for 36 months
  • Due at Signing: $199
  • Mileage: 10,000 miles/year
  • MSRP: $32,525
  • Fuel Economy: 111 MPGe
  • Range: 149 miles

What's Hot: The 2020 LEAF benefits from a massive cut in price that allows shoppers to lease the 40kWh LEAF S for just $199 with $199 at signing. The offer is available nationally and is based on $10,375 in manufacturer lease cash.

Worth Knowing: This marks the best price we've seen to date. Along with qualifying for a $1,000 California Clean Vehicle Rebate, those looking to buy may also be eligible for up to a $7,500 federal tax credit. Customize Offer »

  • Best Deal: Lease from $189 for 36 months
  • Due at Signing: $2,199
  • Mileage: 10,000 miles/year
  • MSRP: $34,040
  • Fuel Economy: 133 MPGe
  • Range: 170 miles

What's Hot: A price cut in October made the 2020 Ioniq Electric $48/month cheaper to lease. However, Hyundai lowered prices even further by another $10 on October 9th. The car's effective cost is now even cheaper than a 2020 Ioniq Hybrid ($250 vs. $278). That's a pretty big deal considering the big difference in MSRP.

Worth Knowing: The deal in question is available in California and prices may vary in the other states in which it's sold. Like most electric cars, the Ioniq is also eligible for a $1,000 California Clean Vehicle Rebate and may qualify for additional savings from local utility companies. Customize Offer »

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Best Plug-In Hybrid (PHEV) Deals

Toyota Prius Prime
  • Best Deal: Lease from $229 for 36 months
  • Due at Signing: $1,999
  • Mileage: 12,000 miles/year
  • MSRP: $28,964
  • Fuel Economy: 133 MPGe
  • Range: 25 mi (EV), 640 mi (EV + Gas)

What's Hot: The 2020 Prius Prime benefits from yet another price cut that makes it cheaper to lease than the 2021 Prius L. With a $20 advantage in effective cost ($285 vs. $305), shoppers have the opportunity to pay less money for a car that's over $3,200 more expensive.

Worth Knowing: The Prime can actually be even cheaper if you qualify for a $1,000 Clean Vehicle Rebate (CVRP). That said, our analysis finds that supplies of the Prius Prime are extremely limited so you may need to shop around to find a dealer with one in stock. Customize Offer »

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Best Hybrid Deals

  • Best Deal: 0% APR for 72 months
  • MSRP: From $28,725
  • Fuel Economy: Up to 52 mpg overall

What's Hot: Deals on the all-new Sonata Hybrid remain extremely good with zero-interest financing for up to 72 months in most parts of the country. We think shoppers will find this to be a better deal compared to the other option available this month: a $2,000 rebate.

Worth Knowing: A short model year could make finding one hard to find. 2021 Sonata Hybrids are already starting to arrive, although rates are quite a bit higher at 0.9% APR for 60 months and 1.9% for 72. Customize Offer »

  • Best Deal: Lease from $249 for 36 months
  • Due at Signing: $1,999
  • Mileage: 12,000 miles/year
  • MSRP: $29,464
  • Fuel Economy: Up to 52 mpg overall

What's Hot: The 2020 Camry Hybrid is cheaper to lease in October following a price cut. Shoppers may find the car to be a better deal than the regular Camry for an extra $10 in payment ($249 vs. $239). Considering the hybrid's MSRP is over $2,200 higher and gets better fuel economy, upgrading could be a no-brainer.

Worth Knowing: The hybrid tends to be harder to find than the gas Camry, so you may need to shop around. Toyota is also facing one of the worst inventory shortages, so your results may vary. Offers vary by region and the example in question is for Southern California. Customize Offer »

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All EV Lease Deals

Effective Cost Model Monthly Payment Term Due at Signing Region Customize Offer
$149 2020 Chevrolet Bolt EV LT (San Francisco, Incl.Costco & GM/Non-GM Lease Bonus) $145 36 $145 San Francisco Customize Offer
$189 2020 Chevrolet Bolt EV LT (National, Incl.Costco & GM/Non-GM Lease Bonus) $184 36 $184 San Francisco Customize Offer
$205 2020 Nissan LEAF S 40 kWh $199 36 $199 Los Angeles Customize Offer
$260 2020 Hyundai Ioniq Electric Base EV (California) $199 36 $2,199 California Customize Offer
$275 2020 Chevrolet Bolt EV LT (GM/Non-GM Lessees) $239 36 $1,309 National Customize Offer
$362 2020 Kia Niro EV EX $279 36 $2,999 CA & Select States Customize Offer
$390 2020 Hyundai Kona Electric SEL $279 36 $3,999 Los Angeles Customize Offer
$410 2020 BMW i3 Base $299 36 $3,999 California Customize Offer
$430 2021 Hyundai Kona Electric SEL $319 36 $3,999 Los Angeles Customize Offer
$458 2020 Toyota Mirai Base $389 36 $2,499 Southern California Customize Offer
$1,026 2020 Jaguar I-PACE HSE $859 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
$285 2020 Toyota Prius Prime LE $229 36 $1,999 Southern California Customize Offer
$298 2020 Kia Niro Plug-In Hybrid LX $229 36 $2,499 CA & Select States Customize Offer
$303 2020 Hyundai Ioniq Plug-In Hybrid SE PHEV $239 36 $2,299 Los Angeles Customize Offer
$367 2020 Honda Clarity Plug-In Hybrid Base (CA, CT, MA, MD, ME, NJ, NY, OR, RI, VT) $289 36 $2,799 Select States Customize Offer
$372 2020 Kia Optima Plug-In-Hybrid EX $289 36 $2,999 CA, UT, HI Customize Offer
$374 2020 Mitsubishi Outlander PHEV SEL AWD $269 36 $3,768 National Customize Offer
$416 2021 Toyota Prius Prime LE (Estimated Payment) $333 36 $2,983 Southern California Customize Offer
$426 2020 Honda Clarity Plug-In Hybrid Touring (CA, CT, MA, MD, ME, NJ, NY, OR, RI, VT) $329 36 $3,499 Select States Customize Offer
$495 2021 Toyota RAV4 Prime SE $439 36 $1,999 Southern California Customize Offer

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All Hybrid Lease Deals

Effective Cost Model Monthly Payment Term Due at Signing Region Customize Offer
$275 2021 Toyota Corolla Hybrid LE $219 36 $1,999 Southern California Customize Offer
$278 2020 Hyundai Ioniq Hybrid Blue $209 36 $2,499 Los Angeles Customize Offer
$288 2020 Kia Niro LX $219 36 $2,499 CA & Select States Customize Offer
$300 2020 Honda Accord Hybrid Base (Sign & Drive) $300 36 $0 CA & Select States Customize Offer
$305 2020 Toyota Camry Hybrid LE $249 36 $1,999 Southern California Customize Offer
$305 2021 Toyota Prius L Eco $249 36 $1,999 Southern California Customize Offer
$314 2020 Hyundai Sonata Hybrid Base $239 36 $2,699 Los Angeles Customize Offer
$324 2021 Hyundai Sonata Hybrid Base $249 36 $2,699 Los Angeles Customize Offer
$330 2020 Honda CR-V Hybrid LX AWD Hybrid (Sign & Drive) $330 36 $0 National Customize Offer
$342 2020 Kia Optima Hybrid EX $259 36 $2,999 CA, UT, HI Customize Offer
$350 2020 Honda Accord Hybrid EX (Sign & Drive) $350 36 $0 CA & Select States Customize Offer
$360 2020 Honda CR-V Hybrid EX AWD Hybrid (Sign & Drive) $360 36 $0 National Customize Offer
$390 2020 Honda CR-V Hybrid EX-L AWD Hybrid (Sign & Drive) $390 36 $0 National Customize Offer
$400 2020 Honda Accord Hybrid EX-L (Sign & Drive) $400 36 $0 CA & Select States Customize Offer
$412 2020 Lexus UX UX 250h Premium AWD $329 36 $2,999 Western States Customize Offer
$426 2021 Toyota RAV4 Hybrid XLE $303 24 $2,953 Southern California Customize Offer
$430 2020 Honda CR-V Hybrid Touring AWD Hybrid (Sign & Drive) $430 36 $0 National Customize Offer
$450 2020 Honda Accord Hybrid Touring (Sign & Drive) $450 36 $0 CA & Select States Customize Offer
$462 2020 Lexus NX NX 300h AWD $379 36 $2,999 Western States Customize Offer
$465 2020 Toyota Highlander Hybrid LE $409 36 $1,999 Southern California Customize Offer
$472 2021 Lexus NX NX 300h AWD $389 36 $2,999 Western States Customize Offer
$490 2021 Lexus ES ES 300h Base Hybrid $379 36 $3,999 Western States Customize Offer
$492 2021 Toyota Venza LE Hybrid (Estimated Payment) $407 36 $3,057 Southern California Customize Offer
$530 2021 Lexus RX RX 350 Premium with Heated Seats $419 36 $3,999 Western States Customize Offer
$589 2021 Toyota Highlander Hybrid LE (Estimated Payment) $501 36 $3,151 Southern California Customize Offer
$590 2020 Lexus RX RX 450h with Blind Spot, Sunroof & Heated Seats $479 36 $3,999 Western States Customize Offer
$600 2021 Lexus RX RX 450h Premium $489 36 $3,999 Western States Customize Offer
$620 2021 Lexus RX RX 350L Premium with Heated Seats $509 36 $3,999 Western States Customize Offer
$640 2020 Lexus RX RX 450hL Premium with Blind Spot & Heated Seats $529 36 $3,999 Western States Customize Offer
$660 2021 Lexus RX RX 450hL Premium $549 36 $3,999 Western States Customize Offer
$709 2020 Toyota Avalon Hybrid XLE (Estimated Payment) $618 36 $3,268 Southern California 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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