Lease an Electric Car for Practically Nothing

Via LearnVest By Jacqui Kenyon ~

electric carTThe federal government, state governments and car dealers are offering some pretty sweet perks to boost the adoption of electric cars.

Limited availability of charging stations in some areas—and the accompanying fear of being caught far from home with a dead battery—has made many wary of investing in these kinds of vehicles.

To counter this, the federal government currently offers a $7,500 tax credit for electric car adopters. Many states provide incentives as well, like California’s $5,000 rebate, ABC News reports.

Dealers are getting in on the action too, with lease deals for electric cars starting around $199 per month.

And it looks like the combination of dealer discounts and government subsidies are working. Although plug-ins made up only 1% of car sales in the first four months of 2013, that’s still twice the total sales of the first four months of last year.

Eric Evarts, senior associate autos editor with Consumer Reports, told ABC News that electric and hybrid cars are one of the only cases where they unequivocally recommend leasing over buying. This is due to the rock-bottom monthly costs, as well as the uncertainty of battery life for electric cars.

 

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