Electric Vehicle Savings: Here’s How Long It Takes to Break Even with $5 Gas Prices (Updated)

Electric Vehicle Savings: Here’s How Long It Takes to Break Even with $5 Gas Prices (Updated)

We hear it all the time: electric cars save you money. Electricity is cheaper than gas, EVs require less maintenance, and incentives abound. However, there’s no hiding the fact that electric vehicles are expensive, especially the models with the best range, performance and charge rates. To shed light on the reality of electric vehicle savings, we dug deep into the data. How long does it take to break even when buying an EV? We were surprised with what we found.

Five Examples of EVs Versus Combustion Competitors

Tesla Model Y Versus BMW X4

Tesla Model Y savings
The best-selling EV in America, the Tesla Model Y. Check out our full review.

The X4 is one of the most direct competitors to the 2022 Tesla Model Y, the best selling electric vehicle in America. Although Tesla models no longer qualify for the federal EV tax credit, the cost of the BMW X4 and high fuel consumption make this an interesting comparison.

ModelMSRPPrice DifferenceIncentivesFuel EconomyRangeTime to RefuelCost to Refuel ($5.00/gal or $0.14 per kWh)Annual Fuel Cost (15,000 miles)Average Annual Maintenance CostTime to Break Even
BMW X4 xDrive30i$51,800--24 MPG413 miles5 min$86.00$3123$228
Tesla Model Y Long Range$62,990+$11,190State and local only3.8 mi/kWh (125 MPGe)330 miles20 to 30 min$10.50$477$774 years

Ford F-150 Lightning Versus F-150 3.5 Liter 4WD

2022 Ford F-150 Lightning
F-150 Lightning electric truck (full review here)

Pickup trucks get the worst fuel economy. It’s just a matter of physics; the shape of a truck is not aerodynamic, and they’re often heavy. The F-150 Lightning weighs 35% more than the gas-powered F-150. So you would think that the time to break even would be shorter when buying an electric truck over the combustion equivalent.

This side-by-side comparison highlights the importance of price parity for EVs. When EVs are similarly priced to ICE vehicles, the cost of ownership savings are crystal clear. But what about when the electric version costs over $25,000 more out the door? Have a look for yourself. 

ModelMSRPPrice DifferenceIncentivesFuel EconomyRangeTime to RefuelCost to Refuel ($5.00/gal or $0.14 per kWh)Annual Fuel Cost (15,000 miles)Average Annual Maintenance CostTime to Break Even
Ford F-150 Platinum 4WD 3.5$62,070--20 MPG520 miles5 min$130.00$3750$228
Ford F-150 Lightning Platinum$90,874+$28,804Fed, state and local2.1 mi/kWh (70 MPGe)320 miles45 min$18.34$860$779.5 yrs (7 yrs with tax credit)

Toyota bZ4X Versus Toyota RAV4 Hybrid 

The 2023 Toyota bZ4X (full review here)

Toyota sells nearly half a million RAV4s every year. Will things change now that Toyota has launched its first fully-electric vehicle? The all-new bZ4X lacks the range and charging speed to compete with the best in 2022’s electric segment, but how does it stack up to the popular RAV4 hybrid? How long would it take to break even when paying a premium for the electric bZ4X?

ModelMSRPPrice DifferenceIncentivesFuel EconomyRangeTime to RefuelCost to Refuel ($5.00/gal or $0.14 per kWh)Annual Fuel Cost (15,000 miles)Average Annual Maintenance CostTime to Break Even
Toyota RAV4 XLE Hybrid$30,545--40 MPG580 miles5 min$72.50$1,875$228
Toyota bZ4X XLE FWD$42,000+$11,455Fed, state and local3.5 mi/kWh (119 MPGe)252 miles1 hour$10.19$606$778 years (2.7 yrs with tax credit)

Subaru Solterra Versus Subaru Forester

2023 Subaru Solterra
2023 Subaru Solterra EV (full review here)

Subaru’s first EV is built on the same electric platform as the new Toyota bZ4X. Subaru is known for being Earth-friendly, but is the new Solterra EV friendly to your wallet? With range and charging figures more akin to 2015’s standards than today’s best EVs, the Subaru Solterra is off-road capable, but a tough sell for those who truly venture off the beaten path. 

ModelMSRPPrice DifferenceIncentivesFuel EconomyRangeTime to RefuelCost to Refuel ($5.00/gal or $0.14 per kWh)Annual Fuel Cost (15,000 miles)Annual Maintenance CostTime to Break Even
Subaru Forester base$25,395--29 MPG481 miles5 min$83.00$2,588$228
Subaru Solterra Premium$46,220+$20,825Fed, state and local3.1 mi/kWh (104 MPGe)228 miles1 hour$9.97$677$7710 years (6.5 yrs with tax credit)

Hyundai IONIQ 5 Versus Hyundai Santa Fe

Charging 2022 IONIQ 5
2022 Hyundai IONIQ 5 EV (full review here)

The Hyundai IONIQ 5 won big at the 2022 World Car Awards, but is it a winner for your wallet? It all depends on how much you drive, and how long you plan to keep the vehicle. The Hyundai Santa Fe just received a total makeover, and its price remains much lower than the IONIQ 5’s. Still, EVs are super efficient and electricity is cheap. Just how long would it take to break even when buying an IONIQ 5 EV instead of the more affordable Santa Fe crossover?

Disclaimer: I own a Hyundai IONIQ 5 Limited AWD, and it’s awesome.

ModelMSRPPrice DifferenceIncentivesFuel EconomyRangeTime to RefuelCost to Refuel ($5.00/gal or $0.14 per kWh)Annual Fuel Cost (15,000 miles)Average Annual Maintenance CostTime to Break Even
Hyundai Santa Fe SEL$27,875--26 MPG489 miles5 min$94.00$2,883$228
Hyundai IONIQ 5 SEL RWD$45,900+$18,005Fed, state and local3.4 mi/kWh (114 MPGe)303 miles20 to 30 min$10.15$502$777 years (4.2 yrs with tax credit)

Electric Vehicle Savings: Other Factors to Consider

Kia EV6 bidirectional charging
2022 Kia EV6

Incentives

In many states and localities, thousands of dollars of additional incentives are available. Colorado, Connecticut, Delaware, Maryland and California are just some of the states with very generous EV incentives. State and local incentives can reduce the time to break even considerably. For example, in Delaware, buyers of the Hyundai IONIQ 5 will break even versus the Santa Fe in just 3.5 years with the federal EV tax credit and state rebates factored in. 

Conversely, for car buyers who can’t take advantage of the federal EV tax credit or any state incentives, it will take many more years to reap the full savings of switching to an electric vehicle. In the case of the new Ford F-150 Lightning, it could take up to 8 years to break even without any incentives, assuming 15,000 miles per year of driving. 

Check this out >>> The North Carolina Clean Energy Technology Center’s DSIRE database is the BEST one-stop resource for all EV incentives. Plus, you’ll see what solar power incentives are available in your area too.

Miles Driven

The difference between driving 10,000 miles per year and 20,000 miles per year is massive when it comes to realizing the savings of driving an EV. The average American driver travels about 14,000 miles per year in their vehicle. Simply put, long-distance commuters, frequent travelers and fleet operators will see the greatest cost savings of going electric. 

With the 2023 Ford F-150 Lightning, a driver who travels 15,000 miles per year and can take advantage of the full $7,500 federal EV tax credit should expect to break even versus a combustion F-150 in 7 years. However, if they drive 25,000 miles per year, the break even period narrows to just 4 years. After that, they will be saving roughly $4,000 every year in fuel and maintenance costs. Clearly, EVs make more sense as a long-term purchase. 

Maintenance

The maintenance figures included in this cost comparison is sourced from We Predict, a Michigan-based data analysis company. They dug deep into automotive maintenance data and found that during the first three years of vehicle ownership, the average annual maintenance for an electric vehicle is just $77. And based on personal experience, that’s likely for new tires (EVs are MUCH heavier). 

During the same period, combustion vehicles average $228 in annual maintenance, with most of the costs in the first few years going towards oil changes and the like. 

We may be underestimating the maintenance savings associated with going electric when comparing luxury brands. For example, BMW is notorious for costly maintenance. Opting for a Tesla Model Y over a BMW will likely result in even greater maintenance savings, and therefore a reduced break-even period. 

Gas Prices!

ev charging station

As of early June 2022, the average gas price in the United States is $4.87 per gallon. In California, it’s $6.34. Nevada, Hawaii, Washington, Oregon and Illinois all have gas prices much higher than the national average. In these states, EV drivers will see even greater fuel savings. 

Let’s take a closer look at an example of someone purchasing a Hyundai IONIQ 5 in California. We’ll assume that the consumer qualifies for the full $7,500 EV tax credit and the $2,500 state rebate for a zero-emissions vehicle. They drive 15,000 miles per year. At gas prices of $6.34 per gallon, the break even point for the IONIQ 5 versus the Hyundai Santa Fe arrives in just 2.5 years, versus 4 years for the rest of the nation. That figure includes the 59% higher residential electricity rates in California. 

YAA’s Take

What can we learn from this EV cost of ownership comparison? The specifics of your situation matter. 

  • What combustion vehicle are you considering in addition to an EV? 
  • What’s the fuel economy for each option? 
  • Do you qualify for the full federal EV tax credit?
  • Are there local or state incentives in your area? 
  • How many miles do you drive each year?
  • How long do you plan to keep the vehicle?

These are the most important questions to ask when deciding whether or not it makes sense to buy an EV in 2022. Have questions? Let us know in the comments, or better yet join the YAA family at joinyaa.com/community. You can also reach me at justin@joinyaa.com. We’d love to hear from you.

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The 2023 Toyota bZ4X Is a Tough Sell: Pricing, Range and Performance

The 2023 Toyota bZ4X Is a Tough Sell: Pricing, Range and Performance

Toyota bZ4X

When Toyota unveiled the Prius hybrid in August of 2000, green tech and sustainability advocates jumped for joy, while the rest of the world pondered the reliability and durability of a hybrid gasoline-electric powertrain. Toyota proved to the world that it was on to something, and has since gone on to sell more than 15 million hybrid vehicles globally. Over 22 years later, Toyota has launched its first-ever fully-electric vehicle, the 2023 Toyota bZ4X. Has the bZ4X electric crossover been worth the wait? Well, it depends on your driving habits and budget. Here’s what we know.

bZ4X Pricing and Availability

For those who were anticipating an affordable EV from Toyota, I have some bad news. The 2023 bZ4X starts nearly $17,000 above the entry-level RAV4, and $12,000 over the RAV4 XLE Hybrid. The bZ4X is offered in two trims: XLE and Limited.  The front-wheel drive XLE starts at $43,215 with destination. Adding dual-motor all-wheel drive to either trim will tack on $2,080. The Toyota bZ4X Limited with all-wheel drive comes out to $49,995. Of course, these MSRPs are before any dealer markups.

bZ4X Incentives

Although the bZ4X is Toyota’s first fully-electric mass-market vehicle, America’s best-selling brand sold enough Prius and RAV4 plug-in hybrids (PHEVs) to approach the sales cap enshrined in the existing federal EV tax credit. In 2022, the federal EV tax credit is worth up to $7,500, depending on your tax liability. Tesla and General Motors electric vehicles no longer qualify for this incentive after the two automakers exceeded their 200,000 sale limit, and completed the phase-out period. 

Analysts (and even Toyota itself) estimate that the bZ4X will remain eligible for the full $7,500 EV tax credit through 2022. Soon after, they expect to hit the 200,000 sale limit, and the one-year phase out period will ensue until the credit disappears entirely. 

State incentives in the form of rebates, tax credits and tax exemptions promote EV adoption in a number of states around the country. Find out if your state offers generous incentives here

Free charging?

Toyota will offer bZ4X owners and lessees one year of free fast charging at EVgo stations.

EVgo is America’s third-largest public charging network behind Tesla and Electrify America. Over 800 DC fast chargers are located around the U.S., with most located on the coasts, Texas and Great Lakes region.

The bZ4X’s Range and Charging Are Already Outdated

2023 bZ4X rear

Before you get too excited about free charging at EVgo, let’s talk charging capabilities. Electric vehicle enthusiasts like myself are puzzled by the outdated charging speeds of the 2023 bZ4X. The front-wheel drive bZ4X is capable of charging at up to 150 kilowatt speeds, which isn’t bad (if the charging curve can sustain that). However, the more powerful and likely more popular all-wheel drive bZ4X is only capable of charging at 100 kilowatts. Why the difference? Battery supply shortages forced Toyota to source the batteries for these two powertrain variants from two different suppliers. And with these charging speeds, it almost seems like Toyota was scraping the bottom of the global battery barrel. 

The bZ4X’s charge times are wild, and not in a good way. A recent charging test by Kyle Conner of Out of Spec Reviews found that it took 58 minutes (an hour!!!!!) for the AWD bZ4X to charge from 10% to 80%. That’s NOT normal for an EV in 2022. For comparison, my very own Hyundai IONIQ 5 accomplishes the same feat in 20 minutes, and Tesla’s can do that in 15 minutes. Over 80% of EV charging is done at home overnight, but if you’re a frequent traveler, be very wary of the bZ4X’s charging faults. 

Range

The 2023 bZ4X’s range is merely okay. It would not be NEARLY as big of an issue if it could charge faster. The front-wheel drive bZ4X is rated for 242 miles with the Limited trim, and 252 miles on the XLE. Upgrade to dual-motor all-wheel drive, and range suffers. The AWD Toyota bZ4X is EPA-rated for 222 miles on the Limited, and 228 miles with lower trims. 

Can Performance and Features Redeem Toyota’s First EV?

2023 bZ4X interior

The bZ4X comes standard with a panoramic glass roof (impressive…), adaptive cruise control, lane-departure warning, lane-keeping assist, blind-spot monitoring, rear cross-traffic alert, and Safe Exit Assist. The Limited’s additional features include a motion-activated power liftgate, a heated steering wheel, heated and ventilated front seats, an upgraded camera, 20-inch rims and faux-leather upholstery. Does that make it worth the hours you’ll spend charging? I’m not so sure.

Toyota’s first fully-electric vehicle is sharp looking and loaded with safety features, but range, charging capabilities and price point leave a lot to be desired. I know more than a few Toyota fans who are disappointed by the bZ4X’s specs. Will this EV turn out to be a winner for Toyota? Time will tell. 

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Truck Prices In 2022: MSRP Increases Across The Board

Truck Prices In 2022: MSRP Increases Across The Board

2022 Chevrolet Silverado price increase

Trucks are somehow an appreciating asset in 2022. Not a single truck is getting more affordable. With inflation, supply shortages, and transportation backlogs, truck inventory remains at record lows in the US. Here’s just how much truck prices have increased in 2022.

Be sure to bookmark this page and check back for updates!

May 2022 Truck Price Increases

Chevrolet Silverado HD

The 2022 model year Chevrolet Silverado HD has seen FOUR price increases since going on sale last year. GM Authority details the latest Silverado price increases:

The latest price increase for the 2022 Chevy Silverado HD is a flat $1,000 for all trim levels and configurations, including both the 2022 Chevy Silverado 2500HD, and the 2022 Chevy Silverado 3500HD. The Destination Freight Charge also increased from $1,695 to $1,795. As it stands now, the least-expensive 2022 Chevy Silverado HD model is the Silverado 2500HD WT Regular Cab / Long Bed with 2WD and the 6.6L V8 L8T gasoline engine, priced at $41,295, while the most-expensive model is the Silverado 3500HD High Country Crew Cab / Long Bed DRW with 4WD and the 6.6LV8 L5P turbodiesel Duramax engine, priced at $81,345.”

See how much every variant of the Silverado 2500 and 3500 HD costs now here.

Rivian R1T

Just a few months after the first deliveries crawled out of Rivian’s factory in Normal, Illinois, the electric truck maker fumbled a sudden price increase. All trims of the Rivian R1T saw prices increase, and some specs are up by 20%. The most ‘affordable’ R1T, originally $67,500, now costs $79,500. The catch is that the base spec of the R1T is not even close to being available. Rivian produced 2,500 electric trucks in the first quarter of the year, and delivered 1,200 of them.

Rivian R1T

All R1Ts being delivered in 2022 are the quad-motor Adventure package with the large battery pack. If you’re lucky enough to take delivery this year, this R1T configuration costs $85,000.

This is Rivian’s delivery timeline as of Spring 2022:

Base Models See Modest Price Increases

Silverado price increase
2024 Silverado EV WT base model

Is there any such thing as an affordable truck any more? Affordability is in the eye of the beholder, however the last few months have raised the bar even further. Here’s the latest data on truck MSRPs for base trims:

The best-selling truck in America, the Ford F-150, has seen a 2.6% increase in base MSRP since December 2021. The F-150 now starts at $29,990. The only truck to fare better (for the consumer) is the Toyota Tacoma, which has gone up 2.1% to a current MSRP of $26,700. 

On the other end of the spectrum, General Motors has sent truck prices through the roof. Four months ago, a 2021 Silverado 1500 started at $29,300. A few price hikes later, the base 2022 Silverado now costs $33,800 before destination fees. That’s a staggering 15% price jump in a few short months. 

GM’s massive price increases for the 2022 Silverado are especially shocking considering that GM posted record profits in 2021, despite selling 500,000 fewer vehicles than the year before.

The 2022 Nissan Titan now has a base MSRP of $38,310, up 4.8% since late last year. The Ram 1500 has seen a similar price hike, now listing for $33,975 at a minimum. Good luck finding one for MSRP.

In fact, let us know about your dealership experience, good or bad!

Luxury And High-End Trucks See The Biggest Price Hikes

GMC Sierra price increase

If you thought the base models were bad, wait until you see how expensive fully-loaded trucks have gotten. Check out the data for yourself:

Yes, a 2022 Ford F-150 Raptor now starts at $68,675 (over $70,000 after taxes and fees) after Ford bumped the price by 7% this year. That almost makes the F-150 Lariat look like a steal at $48,140. It’s actually Ram that takes the trophy for biggest MSRP jump in 2022. Following a 9.1% price increase, the Ram 1500 TRX now starts at $76,780. The GMC Sierra AT4X has seen the smallest price increase, but it’s still an expensive truck at an MSRP $77,395.

Are There Any Affordable Trucks?

The short answer is no. If you’re looking to buy new, you’ll have to find a Ford Maverick, Ford Ranger, Hyundai Santa Cruz or maybe even a Tacoma at MSRP (somehow) to stay around $25,000 for a new truck. Most are far beyond $35,000 once all fees are tallied. 

Bear in mind that we’re talking about MSRPs here. These are merely suggestions by the manufacturer. You know as well as I do that buying any popular vehicle at sticker price in 2022 is like finding a pot of gold at the end of the rainbow. It’s technically possible, but quite rare. And no one will believe you. 

Dealer markups are one of the many novel trends of the past few pandemic years that no one’s excited about. Except for dealers of course. Jalopnik reported on six-figure Ram TRXs and Ford Mavericks going for fifty grand.

Dealers are raking in the profits every time a shopper agrees to pay over MSRP for any truck. Don’t believe me? American dealerships reported all-time record profits in 2021. You know, the year with the worst inventory shortages ever. As one dealer told me, they’re just ‘dying for inventory’. Approach dealerships with caution, truck buyers.

YAA Car Search Now Shows In-Transit Status!

In 2022 (and beyond), many car buyers will be shopping for vehicles that are still sailing the high seas or catching a lift from the plant to the dealership. How do you know which vehicles are in transit and which are on the lot? YAA’s Car Search is the only car buying search engine that shows you if a particular vehicle is in transit. Try it out for yourself!

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Japan Earthquake Forces Toyota to Cut Production AGAIN; Chip Suppliers Affected

Japan Earthquake Forces Toyota to Cut Production AGAIN; Chip Suppliers Affected

A magnitude 7.4 earthquake struck off the coast of Japan on Wednesday, bringing painful memories of the 2011 earthquake back for many. Four people died in the tremor and its aftermath, and Japanese infrastructure took a severe hit. Areas north of Tokyo have experienced power outages affecting 2 million people and thousands of factories.

Japan Earthquake Affects 80% of Toyota’s Factories

japan earthquake toyota production
2022 Toyota RAV4

Railways across much of central and northern Japan are offline after the earthquake destabilized bridges across the region. Some roads were damaged as well. Without transportation corridors, Japanese automaker’s domestic supply chains can’t function.

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Automotive News reports that Toyota will suspend operations on 18 production lines at 11 factories. In total, Toyota operates 28 production lines at 14 factories in Japan. Toyota said they will lose about 20,000 vehicles scheduled for production because of the earthquake. The earthquake shutdown will directly affect production of the Toyota RAV4, Land Cruiser, Yaris, and other models sold abroad. 

Multiple Lexus models are also impacted. The Lexus LS and IC sedans, RC and LC coupes and NX crossover will all see production cuts because of Wednesday’s earthquake.

A Bad Week For Toyota

The latest supply chain and production woes come just days after Toyota announced scaled-back production targets for 2022. Toyota’s production cuts were made public BEFORE the latest earthquake. The automaker already cautioned that production targets may need to be downgraded further, and that’s looking more likely after the latest natural disaster.

Before the earthquake, Toyota slashed April production targets by 150,000 vehicles to a total of 750,000. Looking ahead, Toyota expects production to be 10 percent lower in May and 5 percent lower in June than previously estimated. Citing the instability of supply chains, Toyota will review production plans on a monthly and three-month basis.

Here’s everything you need to know about the latest chip shortage updates.

Chip Makers Affected By Earthquake

japan earthquake chip production

Murata, the top global supplier of ceramic capacitors used in cars, said it had suspended operations at four factories in Japan following the quake. The impacts of Murata’s production shutdown will be felt for months to come, and not just among Japanese automakers.

The quake disrupted production at Kioxia’s plant in Japan, according to TrendForce. The affected factory is responsible for about 8% of Kioxia’s production. The company provides chips to a variety of industries, including auto manufacturing.

The industry analysts at TrendForce say that damage to semiconductor chip production is inevitable following the earthquake.

“Due to the extremely high stability required in the crystal growth process, the industry has not yet announced the impact of the quake. TrendForce specifies, in addition to shutdown inspections, damage to machines and silicon wafer input is inevitable.”

The chip shortage and new car inventory shortage are not getting any better. In fact, it’s getting worse. It seems like the situation changes daily, with geopolitics and mother nature taking a stab at disrupting the automotive industry just as it tries to get back on its feet. 

Check back soon for the latest YAA updates. Bookmark our chip shortage update page for the latest weekly updates on the supply chain disruptions in 2022.

The 10 Best Cars to Lease in 2022

The 10 Best Cars to Lease in 2022

Buying a car is tricky in today’s market, and even leasing can feel like three-dimensional chess these days. Although 2022 isn’t the best time in history to buy or lease a car, some shoppers don’t have a choice. It doesn’t help that the average new car payment is a bank-draining $650 a month in 2022. Fortunately, leasing provides a window of opportunity for those who don’t mind what is essentially a long-term rental. These are the best car lease deals in 2022. All examples assume a 5% down payment at signing.

Not sure where to start? Head over to our YAA complete guide to leasing to find out what leasing a car is, and when it’s a good idea.

2022 Mitsubishi Outlander PHEV

mitsubishi outlander lease

The plug-in hybrid (PHEV) version of the Mitsubishi Outlander sells for an average MSRP of $40,356 depending on the trim. If leasing is an option, you can get into this versatile SUV for $412 per month with an allowance of 12,000 miles a year. How does a plug-in hybrid work? The Outlander can drive 24 miles on pure electricity (which is much cheaper than gas), and then can drive another 300 miles as a regular hybrid system with the help of a combustion engine. It’s kind of the best of both worlds, especially for a lease.

2022 Hyundai Kona EV

hyundai kona lease deal

The Kona EV made our YAA list of the five best electric cars you can get for under $50,000. The Hyundai Kona EV has an average MSRP of about $40,000, and you can lease one for just $401 a month. The Kona is a great alternative for those considering the Chevy Bolt. Plus, it comes with Hyundai’s unbeatable 10 year, 100,000 mile battery and electric powertrain warranty. This front-wheel drive subcompact crossover gets 258 miles on the charge, exceptional range for a budget EV. Some owners get over 275 miles on a single charge. 

2022 Toyota Tundra 4WD 

toyota tundra lease deal

If you can find one that’s not marked up, the 2022 Toyota Tundra 4WD is $51,400 at MSRP. If you’re open to leasing, you can sign up for $525 a month for 36 months and 36,000 miles. That’s $125 less per month than today’s average monthly finance payment. The downside? The Tacoma gets 14 miles per gallon when gas prices are well over $4 per gallon.

2022 Toyota Tacoma 

toyota tacoma lease deal

Last year, the Toyota Tacoma won Best Buy of the Year award from Kelly Blue Book in the mid-size truck category, and now you can lease a 2022 model for under $400 a month. If you buy, the 2022 Tacoma has an average MSRP of $36,300. If you lease, monthly payments are as low as $361. 

2021 Honda Civic Type R

honda civic lease deal

With an MSRP of $41,900, it’s a pleasant surprise that you can get into a Civic Type R lease for just $410 a month. Over 300 horsepower propels this budget racer to 60 mph in just 5.3 seconds. The challenge is finding one on a dealer lot.

2021 Chevrolet Bolt

2021 chevy bolt

Pre-facelift, the 2021 Chevy Bolt was the least ‘sexy’ electric vehicle on the market. It may look bland, have slow charging, and be subject to one of the most scrutinized recalls in recent memory, but you can lease one for cheap. The 2021 Chevrolet Bolt sells for $38,567 (average MSRP across trim levels), but you can lease one for $367.63 a month. Just make sure that you have proof from the dealer that your Bolt has already had the recall fix. Learn more about the Chevy Bolt recall and vehicle specs here.

2022 Chevrolet Bolt

2022 Chevrolet Bolt EUV

The 2022 model year gets a refreshed, modernized front fascia and improved interior. Sadly, driving range figures for the 2022 year remain the same. At least it doesn’t look like a cheap appliance anymore. Here’s the great news: the 2022 Chevrolet Bolt has a lower MSRP than the 2021 model. GM electric vehicles no longer qualify for the federal EV tax credit, so GM must have felt compelled to keep pricing competitive. Whether you go for a 2021 or 2022 Bolt, ensure that the car has had all of the mandatory fire-related recall fixes completed. 

You can lease a 2022 Chevy Bolt for $312 a month for 36 months. If you’re considering buying, remember that the $33,595 price tag will not get any help from the federal tax credit. State and local incentives may apply, depending on where you live. Here’s everything you need to know about the 2022 Chevrolet Bolt.

2022 Chevrolet Bolt EUV

2022 Chevrolet Bolt EUV
2022 Chevrolet Bolt EUV

The Bolt EUV is the slightly larger new sibling to the regular Chevy Bolt EV. The EUV sells for $36,245, but you can lease one for just $341 per month. Range is 247 miles, but charging isn’t that great. Learn more about the Bolt here.

2022 Kia Niro EV 

kia niro EV lease

The 2022 Kia Niro EV has an average MSRP of $43,500, but it can be all yours (for 36 months) for just $395 with a lease. There’s generous lease support for the Niro for a few reasons. The Kia Niro is about to receive a major upgrade in 2022, and it’s being overshadowed by the new Kia EV6 electric crossover. The Niro can make it 239 miles on a charge, and charging from 0-80% takes about one hour at a DC fast charger. However, if you plug it in at home, it should work just fine for those who drive less than 50 miles a day.

2021 BMW i3 

bmw i3 lease

Why is the 2021 BMW i3 such a phenomenal deal in 2022? It was recently discontinued, but it’s still a great option if you’re looking for an affordable, low-emissions way to get around town. Keep in mind that it’s no Tesla. The i3 gets 200 miles of range, 153 of which are on pure electricity. Not to be confused with the new BMW iX3, the 2021 i3 has an optional range extender (on the BMW i3 REX version). All trims considered, the 2021 BMW i3 has an average MSRP of $48,970 while supplies last.

If you’re looking for an all or mostly-electric bargain lease, you can lease the 2021 BMW i3 for $425/month. That’s well under the budget-friendly 10% threshold for a smart lease.

Have questions or comments about the best car lease deals in 2022? Or maybe you’d simply love to connect with fellow car buyers and auto enthusiasts? Check out the YAA Community at joinyaa.com!

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