Summary
- EVs are often criticized for being expensive, but there are affordable options available
- Federal tax credits, state incentives, and lease offers can make EVs more affordable on a monthly basis
- There are great EV deals available across all segments, not just luxury models
- Hyundai Ioniq 6, Chevrolet Equinox EV LT, Lucid Air Touring, and Kia EV9 Wind AWD offer value for different needs
- Tesla Model Y Long Range RWD/AWD is a popular choice due to its affordability and range
Article
Despite the common belief that electric vehicles are expensive, there are several affordable options available that make EV ownership more accessible for consumers. While the initial cost of an EV may be higher than a traditional combustion vehicle, factors such as the $7,500 federal tax credit, state, dealer and manufacturer incentives, and lease deals can make an EV more affordable on a monthly basis. This means that owning an EV may be more within reach for many people than they realize.
One of the best deals on a long-range EV is the Hyundai Ioniq 6 SE, which offers a formidable range of up to 342 miles in RWD form and 316 miles in AWD form. With a starting price of $42,700, the Ioniq 6 provides aerodynamic efficiency comparable to higher-priced vehicles like the Tesla Model S and Porsche Taycan. Hyundai also offers attractive lease deals to make the Ioniq 6 even more affordable for consumers.
For budget-conscious buyers, the Chevrolet Equinox EV LT is a great option with a starting price of $33,600 and an EPA range of 319 miles. Even though the Bolt EV has been discontinued, the Equinox EV offers excellent value with its range and affordability. Eligibility for the full $7,500 federal tax credit further lowers the cost of ownership for this budget-friendly EV.
Those looking for a luxury EV can consider the Lucid Air Touring, which offers the best EPA range in a production car at 406 miles. With a starting price of $78,900, the Air Touring provides impressive specs and performance that rivals luxury competitors at a more affordable price point. Lucid also offers incentives and lease deals that make the Air Touring a compelling option for luxury EV buyers.
Families in the market for an EV may find the Kia EV9 Wind AWD to be a suitable choice, with a starting price of $63,900 and an EPA range of 280 miles. The three-row EV9 offers practicality and high-design features at a more affordable price point compared to competitors like the Rivian R1S. Kia’s cash back and financing deals further lower the cost of ownership, making the EV9 a competitive option for families seeking an electric vehicle.
For those interested in a Tesla, the Model Y Long Range RWD/AWD provides excellent value with a starting price of $44,900 and an EPA range of 311-337 miles. Tesla offers lease deals and financing options to make the Model Y even more affordable for consumers. With its range and cargo space, the Model Y is a popular choice among American car buyers seeking a compelling EV deal.
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