This entry was posted on Wednesday, August 31st, 2011 at 7:48 pm and is filed under Electric Cars Lease. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
August 31, 2011
Since leasing an electric vehicle is a fairly new phenomenon for car consumers, it may seem like an initially complicated journey that’s filled with unanswered questions and puzzling policies. People also would understandably question how cost-effective it is to lease an EV. In the past, buying was probably the only cost-effective option.
Since gasoline prices have spiked in 2008, however, electric car leases have become more prevalent and now include more favorable options than ever before. In some cases, leasing is the most cost-effective strategy. Instead, what consumers should worry about more is the supply issues that most EVs currently have. Most automakers only release a limited number of a specific EV model each season. So, if you are interested in leasing an upcoming electric car, prepare for the purchase months ahead of time since most are on a first-come, first-served basis.
For example, consider the 2012 Toyota Prius, one of the most prevalent EV models in the market today. Nowadays, Prius leases are as much as $100 higher per month than they were several months ago. This is due largely to the catastrophic events that occurred in Japan recently, which devastated the auto industry there. But car companies are jumping back quickly into the game. The Prius and other electric car models are rapidly being developed and manufactured by bulk.
Many dealers are even starting to offer leasing incentives on the Prius and other Japanese EVs again, so check with your local dealership to see what type of discounts can be applied. But also be aware of the red tape involved. Calculate how much the lease would cost you in the long run, until the end of the lease contract period. Measure this number against the out-the-door price if you were to purchase the EV instead. Which would be the better deal? Sometimes, the leasing option is the better decision.
Electric car leasing used to be limited to dealers, who could set firm rates with which the consumer would have to oblige to. Now, consumers can choose the vehicle they’d like and work either with or without a dealer to find the best deals online. Just like auto insurance and auto listings, there are hundreds of sites online that offer free leasing quotes. Many are interactive and list contact information, such as LeaseCompare.com. You’ll be able to apply for credit online too.
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