Summary
- Some EVs are available at a price lower than the average new car
- Tax credits, incentives, and lease offers make EVs more affordable than they seem
- There are great EV deals in every segment
- Hyundai Ioniq 6 SE and Chevrolet Equinox EV LT offer good value for their price
- Lucid Air Touring, Kia EV9 Wind AWD, and Tesla Model Y Long Range offer great deals in luxury, family, and Tesla categories respectively
Article
Electric vehicles have often faced criticism for being expensive, with skeptics pointing out that they typically end up costing more than their combustion alternatives. However, this may be an overstatement as there are solid EV options available for far less than the average new car. In addition, the availability of a $7,500 federal tax credit, state incentives, dealer offers, and lease deals can make an EV more affordable on a monthly basis than initially expected.
Despite the common belief that all EVs are expensive, there are great deals available across different segments. The Hyundai Ioniq 6 stands out as the best deal on a long-range EV, offering an impressive range of up to 342 miles for a starting price of $42,700. The Chevrolet Equinox EV LT, considered the best deal on a budget EV, offers a range of 319 miles and starts at just $33,600, making it an attractive option for those looking for value.
For those in the market for a luxury EV, the Lucid Air Touring is a great option. Priced at $78,900, it offers the best EPA range in a production car at 406 miles. With 620 horsepower, dual-motor AWD, and lease prices under $800, it competes well with luxury competitors while being more affordable. The Kia EV9 Wind AWD, considered the best deal on a family EV, offers practicality and capability for families at a starting price of $63,900, with cashback offers, financing deals, and lease payments of less than $400 per month.
When it comes to Tesla, the Model Y Long Range RWD/AWD is seen as the best deal. With a starting price of $44,900 and an EPA range of 311-337 miles, it offers great value for consumers. Tesla also offers sub-$400 per month lease deals and 0% APR financing for up to 60 months, making it an attractive option for those looking for an affordable EV. Overall, there are opportunities to find good deals on electric vehicles across different price ranges and segments, making them a more viable option for more consumers.
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