Cheapest EVs to Lease in March 2025: Drive Electric for Under $300/Month

Spring has arrived, bringing with it attractive lease deals on electric vehicles. For those looking to switch to electric without breaking the bank, March 2025 presents a golden opportunity. Several compelling EVs are currently available for lease at under $300 per month, making electric mobility more accessible than ever.

2024 was a landmark year for EV sales in the US, with over 1.3 million vehicles sold. This momentum is expected to continue into 2025, fueled by the arrival of approximately 15 new EV models. The first two months of this year have already seen nearly 200,000 EVs roll off dealership lots. February’s best-selling EVs included the Tesla Model Y and Model 3, alongside newcomers like the Honda Prologue and Rivian R1S. Interestingly, excluding the Rivian R1S and the now sold-out older Tesla Model Y, almost all of these top models can be leased for less than $300 a month this March. Leasing continues to be a popular choice, with average monthly lease payments for EVs being significantly lower—around $175 less per month—than loan repayments. Data from Experian indicates that the Tesla Model 3, Honda Prologue, Hyundai IONIQ 5, and Chevrolet Equinox are frequently leased EVs, and as mentioned, all are currently available for under $300 monthly.

Hyundai IONIQ 5 Limited with NACS port

Hyundai, Kia, and Genesis: Affordable Electric Options

Kia and Hyundai are consistently leading the charge in offering affordable and efficient electric vehicles. The Kia Niro EV stands out as one of the Cheapest Evs to lease this March, with rates starting as low as $129 per month.

The recently updated 2025 Hyundai IONIQ 5, now boasting increased range and a Tesla NACS charging port, and the stylish IONIQ 6 are entering the market with substantial lease discounts. Even the luxury-focused 2025 Genesis GV60 is available for lease at under $300 per month this March, making premium electric accessible at a surprisingly reasonable price. Adding to the appeal, Hyundai recently launched a promotion providing buyers and lessees of new 2024 or 2025 IONIQ 5 or IONIQ 6 models with a complimentary ChargePoint Level 2 home charger, or a $400 public charging credit for those already equipped for home charging.

Honda Prologue Elite on display

Honda Prologue and Acura ZDX: Surging in Popularity

The Honda Prologue electric SUV continues to make significant inroads in the US market. In the latter half of 2024, it emerged as the second best-selling electric SUV, trailing only the Tesla Model Y. This momentum has carried into 2025, securing its place as a top-five best-seller for the first two months of the year.

With an exceptionally low lease rate of just $239 per month, the Prologue is even more budget-friendly than a Honda Civic this month, explaining its impressive sales figures. Honda introduced the 2025 Prologue model earlier in March, which offers enhanced range, now up to 308 miles, and increased power while maintaining its attractive starting price point. Acura’s luxury electric SUV, the ZDX, can also be leased for a competitive $299 for 24 months. With a down payment of only $2,999, the ZDX is even more affordable than the Genesis GV60, thanks to substantial incentives. In some regions, discounts on the Acura ZDX are reaching up to $28,000, making it, in certain cases, cheaper to lease than a Civic, further solidifying its position among the cheapest EVs available for lease.

Chevy Equinox EV LT model front view

Chevy Blazer and Equinox EVs: New Entrants with Competitive Leases

Chevrolet’s new electric SUV lineup is rapidly expanding. The electric Equinox quickly became a top-five best-selling EV in the final quarter of 2024. Both the Equinox EV and Blazer EV are currently available for lease at under $300 per month this March. The Blazer EV, while slightly pricier upfront at $3,879 due at signing, still falls within the affordable lease category. Notably, the Blazer EV lease deal includes a $1,000 trade-in bonus, potentially lowering the effective monthly cost for eligible customers.

The Chevy Equinox EV, marketed as “America’s most affordable +315 miles range EV,” is proving to be an exceptional value. This month, leasing the electric Equinox can be even more economical than financing the gasoline-powered model, with potential savings of up to $8,500.

Ford Mustang Mach-E and F-150 Lightning charging

Ford F-150 Lightning and Mustang Mach-E: Incentives and Popularity

While sales of the Ford F-150 Lightning have seen a dip this year, the Mustang Mach-E has maintained its position as a top-selling electric SUV through the first two months of 2025.

Ford is enhancing the appeal of its EVs with a “Power Promise” promotion, offering a complimentary Level 2 home charger with any EV purchase or lease. This incentive, along with other benefits, adds considerable value for those considering a Ford EV.

Subaru Solterra parked outdoors

Toyota bZ4X and Subaru Solterra: Japanese Automakers Catching Up

Toyota and Subaru are gaining traction in the EV market, with sales of the Toyota bZ4X and Subaru Solterra on the rise. The Subaru Solterra, with an effective monthly lease cost of just $287 and standard all-wheel drive (AWD), emerges as a particularly compelling option this March. For those seeking an affordable EV with AWD capability, the Solterra represents excellent value.

Tesla Model 3 in white color

Tesla Model 3: Still a Cheapest EV Contender in March

Despite the older Model Y inventory being sold out this month, the Tesla Model 3 remains available for lease at under $300 per month. The Model 3 continues to be a top-selling EV in the US, and for good reason.

The new Long Range AWD Model 3 offers an EPA-estimated range of up to 363 miles and impressive fast-charging capabilities, adding up to 195 miles of range in just 15 minutes at compatible Superchargers. This combination of range, performance, and now affordability through leasing, keeps the Model 3 a strong contender in the cheapest EV segment.

Other EVs Leasable for Under $300 a Month

It’s important to note that some of these lease rates may fluctuate based on geographic location. For example, the $239 per month Honda Prologue lease offer is specifically available in California and other ZEV states. Similarly, the Acura ZDX promotion at $299 is limited to California, New York, Oregon, and other select states. In regions outside these specific areas, the Prologue might be listed at $269 per month for 36 months. However, even with a $3,199 down payment, the effective monthly cost remains competitive at $358. Moreover, potential savings through conquest or loyalty offers, such as a $1,000 incentive, could further reduce monthly payments to around $330.

The current landscape of attractive EV lease deals is significantly influenced by federal EV incentives, including the $7,500 tax credit. However, with potential shifts in administration policies that could eliminate these incentives, these savings may be temporary. Automakers are currently able to offer such low lease prices largely because these tax credits are factored into the lease calculations. For consumers looking to capitalize on affordable EV options, now may be an opportune time to explore these lease deals before potential policy changes impact the market.