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$169-Per-Month Hyundai Kona Electric Is The Latest EV With A Super Cheap Lease

Photo: Hyundai
Photo: Hyundai

We recently shared that Hyundai is leasing its Ioniq 6 EV for as little as $239 per month with $0 down, making it the cheapest lease deal in the U.S., but this Kona deal is almost as sweet. Hyundai is leasing base models of the new Kona Electric for as little as $169 per month for 24 months with $1,999 due at signing, which equates to a total monthly cost of just $252. This promotional rate is nearly $80 cheaper each month than the Kona EV’s normal 36-month lease deal.

The Kona Electric SE produces 133 horsepower and 188 pound-feet of torque, and its 48.6-kWh battery provides an EPA range of 200 miles. For $10 more per month than the SE lease, Hyundai will lease you a Kona Electric SEL that produces more exciting numbers like 201 hp and 188 lb-ft of torque, and has a bigger 64.8-kWh battery that’s rated for a maximum range of 261 miles. Aside from boosts in power and range, the SEL comes with more standard features like heated front seats, a power adjustable driver’s seat, and a leather-wrapped steering wheel. For a total monthly payment of $262, that’s a lot of car for a small amount of money; I guess it’s a leaser’s market right now. Cars Direct reports,

How is Hyundai able to offer such affordable 24-month deals? According to our analysis, the residual values of both the SE and SEL Kona Electric trims are over 10% higher for the 24-month deals than their 36-month counterparts. That’s not uncommon since the vehicle has less time to depreciate, but this discrepancy is on the larger side. Fortunately for the consumer, the higher residual values correspond to a lower lease rate, bringing down the monthly payment.