Electric cars lease and financing deals in october 2022
What is car leasing ?
Car leasing is an alternative way of acquiring a vehicle as compared to traditional car loan or purchase. Leasing a car allows you to drive a new car for a duration between 2 to 5 years at a monthly rental . One will get additional benefits like zero down payment & tax benefits. At the end of the lease tenure, you can either return the vehicle & upgrade to a new car.
It's always a smarter choice to lease a brand new electric car. You can save some money ,and at the same time you can contribute to the environment by reducing the amount of CO2. That's a win for you - and the planet.
Leasing an electric car or hybrid vehicle always has the advantage of driving the latest EV model with the greatest range and the latest technology.
With each new month, nearly every automaker is raising interest rates, monthly lease payments, and down payments.Then when is the best time ?The best time to buy or lease a new car typically falls at the end of the month, the end of the quarter, the end of the year, and on holidays.
Some brands haven't yet published their manufacturer-sponsored leasing and financing offers this month.Some electric vehicles are available with relatively appealing lease deals and reasonable financing rates. Some cars are available with a combination of these offers.
Car lease estimation for different electric vehicle
Tata nexon EV
Estimated Lease Rental -22,899/month(for duration of 5 years)
Tata nexon EV max
Estimated Lease Rental -27,677/month (for duration of 5 years)
Tata tigor EV
Estimated Lease Rental -18,945/month(for duration of 5 years)
Hyundai kona electric
Estimated Lease Rental -35,222/month(for duration of 5 years)
MG ZS-EV
Estimated Lease Rental-33,450/month(for duration of 5 years)
Kia EV6
Estimated Lease Rental-89,404/month(for duration of 5 years)
Audi E-Tron
Estimated Lease Rental-1,67,048/month(for duration of 5 years)
Audi E-Tron-GT
Estimated Lease Rental-2,71,750/month(for duration of 5 years)
Audi Rs-e-Tron-GT
Estimated Lease Rental-3,09,112/month(for duration of 5 years).
(Above all are estimated lease rental figures ,actual rate may vary)
Same deals aren't available in all markets, and some have specific restrictions, so check with your local dealer for details on what's available in your area.
Advantage of car leasing in India
- Tax Savings - Lease rentals are deducted pre-tax from CTC (gross salary) increasing your take-home salary as compared to having a car loan
- Zero Down-payment thus saving opportunity cost as compared to outright purchase or car loan
- No hassle of selling your used car after 5 years
Disadvantages of Leasing car in India
- Mileage limitations -leased car has limit on driving mileage,you could be charged an additional cost per km over the limit.
- Leased vehicles can't be customised
- When you buy or loan a car, you can qualify for a lower credit score.
- There will be additional chargers one have to pay in case of early termination and improper maintenance
