The 2011 Nissan Leaf and 2012 Tesla Model S were the first mainstream EVs to be built in large numbers in the U.S. Since then, nearly every automaker has either built an EV or plans to sell one, two, or convert its entire lineup to EVs. As charging stations proliferate, costs drop, and batteries improve, many people are wondering: Should I buy a new EV or is it better to lease?
Is it better to buy or lease an electric car? Consumer Reports experts find out
We’ve already made the case for buying used EVs. But what if you’re dead set on buying a new car? Read our short guide to help you make a decision that suits your lifestyle and budget.
EVs depreciate rapidly. Just look at the used prices of the BMW i3 and Nissan Leaf, two of the first mass-market EVs that sold for reasonable prices when new, and in most economic conditions you can find them for a fraction of their original MSRP.
That’s because their manufacturers have upgraded these models in less than a decade with superior range and performance, and for the same cost or less than when the cars were first launched. For this reason, and because EVs are generally like smartphones that get much more advanced every few years, it can be more cost-effective to lease an EV than to lease a regular car.
