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Is it ever worth leasing an electric car?
I want to start driving an electric car to save money on gas, but they’re just a little bit out of my price range to buy one outright. Is it worth leasing an electric car?
Allison Stone · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
While there are some
affordable electric cars
out there, leasing
is a great alternative to car ownership. With car leasing, you get to drive a dream car that would otherwise be out of your price range without having to ever pay the full purchase price. Leasing is also a great option for tech enthusiasts who might want to try out a new car every few years.
There are of course downsides to leasing. For example, the consumer isn’t entitled to receive the $7,500 federal EV tax credit, nor will you be able to make any modifications to your car.
Regardless of whether you’re buying or leasing your new car, you’ll need a
car insurance
plan that gets you the best coverage for the best price. Download the Jerry
app and in less than a minute, compare quotes from top name-brand insurance companies to find out if you’re getting the best deal. MORE: How to choose an eco-friendly car
View full answer
- Gregory R.
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