6 Electric Vehicles You Can Lease for Under $400 a Month

Americans struggling with rising car costs just got a major break from an unexpected source: electric vehicle lease deals that cost less than half the national average payment.

The average monthly car payment climbed past $770 in late 2025, with more than 20% of new car buyers paying over $1,000 per month. But six electric vehicles now offer lease deals with effective monthly costs under $400, making them surprisingly affordable alternatives to traditional gas-powered cars.

The Hyundai IONIQ 6 leads the pack with the lowest effective payment at $355 per month in select markets. The sleek electric sedan offers up to 342 miles of range on a single charge, and the deal includes just $3,999 due at signing for a 24-month lease.

The Chevy Equinox EV follows closely at $362 per month effective cost. GM's best-selling electric SUV delivers 300 miles of range and benefits from significant manufacturer discounts as the 2027 model year approaches.

Subaru's newly redesigned Solterra Crossover comes in at $363 per month with all-wheel drive and 288 miles of range. The 2026 model improved on its predecessor with more power, faster charging, and a lower price point. Returning Subaru lessees can snag an additional $500 loyalty discount in select markets.

The Honda Prologue offers an effective rate of $377 per month for the popular electric crossover. Built on GM's Ultium platform but styled with Honda's signature touches, the Prologue became one of the best-selling electric crossovers before federal tax credits were cancelled.

The Bright Side

These deals arrive at the perfect moment for budget-conscious drivers. Leasing protects consumers from swings in the used car market by locking in a set residual price upfront. Plus, switching from gas to electric can slash fuel costs significantly, offering savings that compound month after month.

The Ford F-150 Lightning and Kia EV6 round out the affordable options, both advertised at $299 per month before calculating money due at signing. The Lightning brings electric power to America's best-selling truck, while the sporty EV6 delivers impressive performance at a fraction of the cost of comparable gas vehicles.

Affordable electric transportation is no longer just a future promise but a present reality for American drivers.