7 Reasons Why You Should Lease an EV Before Buying One

Leasing an electric vehicles (EVs) can be the perfect solution to ease into the world of electric cars without the full commitment of buying. You get to enjoy the excitement of electric driving, experience the advanced features, and see if it fits your lifestyle—all without the long-term responsibility of ownership. Think of it as taking a test drive, but for a longer duration. With a lease an EV, you can take your time to explore the charging infrastructure in your area, test the range on different trips, and truly understand how an electric car fits into your daily routines. So, if you’re intrigued by the idea of going green but feel a bit overwhelmed by the changes, leasing an EV might be just the right step to take.

Why Consider Leasing an EV?

Cars are expensive, and that’s especially true for electric vehicles. But before you take the plunge into the world of EVs, there’s a lot to consider. These electric wonders drive differently with features like regenerative braking and near-silent operation, which might take some getting used to. And let’s not forget the charging process – no more quick pit stops at the gas station; instead, you’ll need to spend some time at a charging station. But don’t worry, the required maintenance for EVs is generally less than traditional cars, and you’ll definitely save money on gas. To make sure an electric car is the right fit for your lifestyle and driving habits, leasing one first can be a great idea.

Car Insurance and Leasing an EV

Now, you might be wondering about car insurance for your leased electric vehicle. Well, good news – it works pretty much the same way as insuring a gas-powered car! You’ll need the standard auto insurance coverage, including liability, collision, and comprehensive, to protect your EV. The best part is that many insurance companies offer specific policies tailored to electric vehicles, which can come with additional benefits or discounts. Just like getting the perfect accessory to complement your outfit, finding the right car insurance for your leased EV ensures you’re fully protected while cruising on the green roads.

That’s where leasing comes in, and I’m here to tell you 7 great reasons why leasing an EV before buying one just makes a whole lot of sense.

1. Test Things Out Before You Fully Commit to a Loan

Electric vehicles are fantastic, but they can be pricey. So, before you dive headfirst into a long-term auto loan that could tie you down for 60, 72, or even 84 months, why not consider leasing for a more manageable two to three years? Leasing allows you to have an extended test drive without locking yourself into those enormous payments for the next six years. It’s like dipping your toe in the water before diving in!

Imagine you’re at an ice cream parlor, and they offer you a free taste of a new flavor before you commit to a whole cone. Leasing an EV is like trying that sample – you get to experience the joy of electric driving without the full scoop commitment.

2. Federal EV Tax Incentives Are Great for Leasing

The government loves electric cars, and they’re offering some pretty sweet deals to encourage folks to go green. The catch is, the recent Inflation Reduction Act of 2022 cut down the number of models eligible for the federal EV tax break. But here’s the nifty trick – you can still take advantage of those incentives by leasing! Automakers like Subaru are happily promoting this loophole, so you could save up to $7,500 and lower your monthly payment with a lease.

Think of it as winning a jackpot at the casino, but instead of cash, you’re getting a sweet tax credit that can put some extra money in your pocket.

3. Find Nearby Charging Stations and Get Yourself Familiar

One of the concerns with EVs is the availability of charging stations. But fear not, my friend! While charging stations might not be as common as gas stations, they’re on the rise, especially with big manufacturers jumping on board. With apps for EV route planning and Tesla’s Supercharger network now open to other EVs, finding a charging station is becoming less of a worry. Leasing allows you to test the waters and see how convenient it is to charge up in your area.

Remember those days when you couldn’t find Wi-Fi everywhere? Now it’s almost everywhere! Well, charging stations are heading in that direction too, becoming more accessible by the day.

4. Test the Range and Performance for Your Lifestyle

Range anxiety – it’s a real thing, especially when you’re considering an electric vehicle. But most EVs on the market today offer more than enough range for the average daily commute. However, if you’re a road trip enthusiast or frequently take long journeys, you’ll want to be sure the EV you choose can handle it. Leasing gives you the perfect opportunity to test the range, charging capabilities, and how an electric car fits into your lifestyle without fully committing.

It’s like trying on a pair of shoes before buying them. You want to make sure they’re a perfect fit for your feet, just like how you want an EV that perfectly fits your lifestyle.