The cheapest EV lease on the market right now is the 2026 Honda Prologue at $259/month (36 months, $4,599 due at signing), followed closely by the Kia Niro EV Wind at $289/month. If you want more range and don’t mind a bigger check at signing, the Hyundai IONIQ 9 offers 320 miles of range for $369/month — a better deal than the pricier Kia EV9. Below, we break down effective monthly cost (not just the sticker payment), which deals are regional versus national, and which ones are about to disappear.
Lease pricing changes monthly and varies by region and credit tier — always confirm current terms with a local dealer before signing.
Quick Summary
- Cheapest lease overall: 2026 Honda Prologue EX AWD — $259/mo, $387 effective cost
- Best range-for-money: 2026 Hyundai IONIQ 9 S — $369/mo, 320-mile range, $480 effective cost
- Biggest total discount: 2026 Polestar 4 — up to $19,000 off MSRP, national offer
- Watch out for: Tesla, Toyota, Nissan, VW, and Volvo lease prices have risen sharply since the federal EV tax credit lapsed on September 30, 2025
- Best short-term option: 2026 Kia EV9 — 24-month lease often beats the 36-month term on total cost
Why EV Lease Prices Look Different This Month
Two things are driving this month’s numbers. First, <cite index=”7-19,7-20″>the federal EV tax credit is no longer available after September 30, 2025, which previously let leasing companies pass along up to $7,500 in savings through what’s known as lease cash</cite>. Second, brands have responded very differently to that loss. <cite index=”7-21″>Ford, Hyundai, and Kia have kept meaningful incentives in place, while Nissan, Tesla, Toyota, Volkswagen, and Volvo have raised prices and pulled back incentives</cite>. <cite index=”7-22″>Tesla lease prices climbed roughly 40%, and Toyota’s EV and plug-in hybrid leases rose about 54%</cite> over the same period.
That split is why shopping around this month matters more than usual — the “best EV to lease” answer looks completely different depending on the brand.
How to Read “Effective Cost”
Every lease has two numbers: the advertised monthly payment and the amount due at signing. A low monthly payment paired with a huge signing fee can actually cost more over the lease term than a slightly higher payment with less due upfront. “Effective cost” spreads the signing fee across the lease term and adds it back into the monthly number, which is the only way to fairly compare two different deals.
This Month’s Best EV Lease Deals
1. Honda Prologue — Cheapest Overall Lease
<cite index=”7-33,7-34″>The 2026 Honda Prologue EX AWD leases for $259/month over 36 months with $4,599 due at signing, for an effective cost of $387/month, on a vehicle with an MSRP of $43,495</cite>. <cite index=”7-31″>Much of that value comes from a $2,000 loyalty bonus or equivalent conquest discount for switching brands</cite> — <cite index=”7-31″>without it, the effective cost rises to $447/month</cite>. <cite index=”7-32″>Range tops out at 294 miles</cite>. One caveat: <cite index=”7-30,7-31″>Honda has confirmed the Prologue is being discontinued, and inventory is already thin</cite>, so this deal may not last the month.
2. Kia Niro EV — Cheapest Subcompact Crossover
<cite index=”7-33″>The Wind trim lists at $289/month for 36 months with $3,999 due at signing, for an effective cost of $400/month against a $41,195 MSRP</cite>. <cite index=”1-1″>It’s rated for 253 miles of range from a single front motor producing 201 hp</cite>. <cite index=”7-15″>The offer is regional — confirmed in California, Colorado, Oregon, and Washington</cite>, and <cite index=”7-16″>supply is limited, with only a few hundred Wind-trim listings found nationally</cite>. <cite index=”7-17″>The Niro EV is also slated for discontinuation ahead of a 2027 refresh</cite>, so this is a shrinking window.
3. Hyundai IONIQ 9 — Best Range-to-Price Ratio
<cite index=”7-19,7-20″>The IONIQ 9 S trim leases for $369/month over 36 months with $3,999 due at signing in California, for an effective cost of $480/month</cite> — <cite index=”7-20″>on an MSRP over $60,000</cite>. <cite index=”7-20″>That undercuts the pricier Kia EV9’s effective cost of $510/month while offering more range, 320 miles versus 304</cite>. This is the strongest value pick this month if range is your priority.
4. Kia EV9 — Best Short-Term Lease
<cite index=”7-13,7-14″>In California, Colorado, Oregon, and Washington, the Light Long Range trim leases at $379/month for 24 months with $3,999 due at signing, backed by a lease incentive worth up to $15,500 in some regions</cite>. <cite index=”7-14″>Its effective cost comes out to $546/month</cite>. <cite index=”7-15″>The better-equipped Wind AWD trim costs just $50/month more despite a $6,000 higher MSRP</cite>. <cite index=”7-16″>Range runs 305 miles on the Light Long Range and 283 miles on the all-wheel-drive Wind</cite>. Worth noting: <cite index=”7-16″>the 24-month term actually beats the 36-month version, which runs about $20/month higher</cite> — a rare case where the shorter lease is the better deal.
5. Polestar 4 — Biggest Total Discount
<cite index=”7-24,7-25″>The Long Range Single Motor leases nationally at $399/month for 27 months with $1,399 due at signing, carrying a $19,000 discount off MSRP</cite>. <cite index=”7-27″>Effective cost lands at $451/month, undercutting even a base Tesla Model 3 lease at $492/month</cite>. <cite index=”7-28″>Range is rated up to 310 miles</cite>. There’s urgency here too: <cite index=”7-26″>a regulatory change will end Polestar 4 sales in the U.S. after the 2027 model year</cite>, which is part of why pricing has dropped so sharply.
6. BMW i4 — Best Luxury Option
<cite index=”7-9″>Unlike most EVs this month, i4 pricing has held steady</cite>: <cite index=”7-9″>the eDrive40 leases on the East and West Coasts for $499/month over 36 months with $4,779 due at signing</cite>, an effective cost of about $632/month. <cite index=”7-10″>Range runs up to 333 miles on 18-inch wheels or 307 miles on 19-inch wheels</cite>, and <cite index=”7-9″>returning BMW owners may qualify for an additional $1,000 loyalty discount</cite>.
EV Lease Deals Comparison Table
| Vehicle | Monthly Payment | Term | Due at Signing | Effective Cost | Range (EPA-est.) | Availability |
|---|---|---|---|---|---|---|
| Honda Prologue EX AWD | $259 | 36 mo | $4,599 | $387 | 294 mi | National |
| Kia Niro EV Wind | $289 | 36 mo | $3,999 | $400 | 253 mi | Regional (CA, CO, OR, WA) |
| Hyundai IONIQ 9 S | $369 | 36 mo | $3,999 | $480 | 320 mi | Regional (CA; similar elsewhere) |
| Kia EV9 Light LR | $379 | 24 mo | $3,999 | $546 | 305 mi | Regional (CA, CO, OR, WA) |
| Polestar 4 LR Single Motor | $399 | 27 mo | $1,399 | $451 | 310 mi | National |
| BMW i4 eDrive40 | $499 | 36 mo | $4,779 | $632 | 333 mi | East/West Coast |
All figures reflect nationally or regionally advertised offers as of mid-August 2026 and exclude tax, title, and local fees. Confirm current terms with a dealer before signing, since lease pricing is typically refreshed monthly.
A Note on the Tax Credit Question
If you’re wondering whether leasing still gets you any version of the old federal incentive: <cite index=”7-19,7-20″>the tax credit itself is gone as of September 30, 2025</cite>, but that doesn’t mean lease pricing is worse across the board. <cite index=”7-21″>Some automakers absorbed part of that loss into their own incentive budgets to keep leases competitive, while others didn’t</cite>. In practice, that means the brand you choose matters more than the credit did.
Bottom Line
If low monthly cost is your only priority, the Honda Prologue at $259/month wins outright — but it’s being phased out, so act fast if you want one. For the best balance of range and value, the Hyundai IONIQ 9 at $369/month is the strongest pick this month, beating the pricier EV9 on both cost and range. If you want the biggest total discount and don’t mind a shorter term, the Polestar 4 delivers up to $19,000 off MSRP — just know its long-term U.S. availability is limited.
