This month, rising interest rates and sparse inventories are cutting into the great deals that automakers have recently offered on plug-in and electric cars.
Still, our partners at CarsDirect found some deals as low as $179 a month on electric cars this month. That deal, however, is on the Fiat 500e, which is only sold in California and Oregon, and so doesn’t qualify under our stricter standards of focusing on vehicles that are widely available.
Here are several that are:
With more long-range electric cars coming on the market, it’s no longer just short-range city cars (like that 500e) that qualify for the best deals.
The best deal on an electric car for June is on the Chevrolet Bolt EV, which is eligible for $6,997 off MSRP for purchasers. For buyers who need to finance, Chevrolet is offering $1,250 cash on top of 0-percent financing for 72 months.
The deal is a mixed blessing. While it’s simpler than previous deals and available to a wider variety of buyers, the deal isn’t as rich as the best deal offered last month for previous GM owners who qualified. Altogether, the previous deal could amount to $8,500 off for some buyers.
Even with the discounts, though, buyers still qualify for local, state, and federal rebates after the purchase price. The Bolt EV qualifies for a federal tax credit of up to $3,750 through the end of August.
2019 Honda Clarity Electric
For shoppers who want to lease an electric car, the best deal is on the Honda Clarity Electric, for $199 a month for 36 months, with $1,799 due at signing.
Even though it’s a big sedan, the Clarity Electric is a short-range electric car with an EPA rating of just 89 miles on a charge.
Still, considering all factors, the deal amounts to $80 a month less than the price of a base Nissan Leaf with its 150 miles of electric range.
Like the Fiat 500e, the Clarity Electric is only sold at select dealers in California and Oregon. Honda also does not offer the option to purchase the Clarity Electric at the end of the lease. But with an effective lease price of $249 a month, it costs $55 a month less than the 500e.
2018 Kia Niro Plug-in Hybrid
As with electric cars, CarsDirect found two different deals on plug-in hybrids, which may be compelling to different buyers, though both are leases.
The first is on the Kia Niro LX Plug-in Hybrid, which is available to lease for $249 a month for 36 months, with $2,999 due at signing. that makes the Niro PHEV a better deal than either its stablemate, the Hyundai Ioniq, or the top-selling Toyota Prius Prime.
The Niro LX PHEV deal amounts to $332 a month, which is $8 a month cheaper than a Hyundai Ioniq PHEV and $23 a month less than the Prius Prime. It is not available everywhere, but is available in several populous states, including California, Colorado, Florida, Illinois, Ohio, and Wisconsin.
The Niro PHEV is rated at 26 miles of electric range. Higher trim levels of the Niro LX PHEV offer bigger discounts, which deliver more features for not a lot more money, but their overall prices are higher.
2017 Toyota Prius Prime test drive, Ojai, California, Sep 2016
The Toyota Prius Prime is the bestselling plug-in hybrid, with 25 miles of electric range, and it’s available for the same lease price as a non-plug-in Prius. Southern California buyers get an extra $10 a month off for a lease payment of $299 a month for 36 months with $1,999 due at signing.
That gives the Prius Prime an effective lease price of $355 a month.
Buyers should beware that the Prime is primed for an update later this summer with the 2020 model offering a fifth seat in the rear as well as Apple CarPlay.
2019 Ford Fusion Hybrid
The usual suspect makes a return appearance on our list of the best hybrid deals this month: The Ford Fusion Hybrid leases for $209 a month with $3,059 due at signing.
At an effective cost of $294 a month, the Fusion Hybrid costs less to lease than either a Toyota Prius L (at $355 per month) or a non-hybrid Fusion ($315 a month), this despite the fact that the Fusion Hybrid is rated at 42 mpg overall, versus the standard Fusion at 27 mpg.
The best deals apply to Fusion Hybrids that have been in dealer inventory at least 61 days. Others cost $250 more.