I’m looking for some expert advice on targeting a great lease deal for an Electric Vehicle (EV) or Plug-in Hybrid Electric Vehicle (PHEV). I’m planning to lease in the next month or two and would really appreciate your insights and recommendations.
Vehicle Preferences:
Type: Electric Vehicle (EV) or Plug-in Hybrid (PHEV)
Brands of Interest: I’m interested in higher-end brands like Lexus, BMW, Audi, and Genesis. I am open to considering other brands in a similar category that offer compelling EV/PHEV models as well. I am mainly looking for SUVs.
Must-haves: Reliability, good tech features, and a comfortable ride are important.
Lease Terms:
Lease Duration: Ideally, I’m looking for a lease term of 24 to 48 months (2-4 years), depending on what offers the best value.
Mileage: I anticipate needing between 8,000 to 10,000 miles per year, again, flexible depending on the deal structure.
Financials:
Out-of-Pocket (OOP): I’m aiming for a total out-of-pocket cost between $4,000 and $7,000. This includes everything upfront (first month’s payment, fees, taxes, etc.).
Credit Score: My credit score is excellent (800+).
Location:
I am located in Pennsylvania ¶ and will be leasing from any dealership that can offer good deal.
Additional Context:
Interested Party: I have a family member who is also interested in leasing a similar vehicle and is likely to sign a deal with me at the same time. We are essentially looking for two cars, which might give us some leverage for a better deal.
Trade-in (Optional): I have a 2017 Toyota Camry with only 27,000 miles in prime condition. I am open to trading it in if it significantly improves the lease deal, but it’s not a necessity. I would appreciate advice on whether trading in or selling privately would be more advantageous in the current market.
Seeking Advice On:
Specific Models: Based on my preferences and budget, which EV/PHEV models from the brands mentioned (or similar) are typically leasing well right now or are expected to have good deals in the coming months?
Target Lease Numbers: What would be considered a good target monthly payment and lease terms for the vehicles you recommend, given my desired out-of-pocket and mileage?
Incentives and Rebates: What current manufacturer incentives, lease credits, or regional rebates should I be aware of in PA for EVs/PHEVs?
Dealer Recommendations: Are there any dealerships in the [PA or MD] area known for offering competitive lease deals on EVs/PHEVs, or any brokers I should consider contacting?
Trade-in Strategy: Should I consider trading in my Camry to a dealership or selling it privately? Any advice on how to maximize its value in either scenario?
Any insights, tips, or recommendations you can provide would be greatly appreciated! Thank you in advance for your help!
Aside from your trade, all questions can be answered by clicking on Marketplace
Click the link below and get bids online. Create a Craigslist ad for $2,000 more than the highest offer and see if you can sell it before the bid expires. Otherwise take the highest bid.
Why do you want to put so much down up front on the lease? The recommendation is to keep total DAS minimal (e.g. first payment), with the rationale being that if you total your vehicle, you never get that money back.
Oh, I assumed you meant DAS given the amount you stated & brands you listed. As others alluded, I don’t think this is realistic given the brands you listed. Since you are open to 2 to 4 year leases, why not just settle on a effective per month budget assuming 1st payment down? (regardless of term) Then folks will be able to give you more targeted options.
