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Your EV Lease Might Be Ending Soon. Here's What To Do Next

  • 2025 will see a record number of two- and three-year EV leases coming to an end.
  • Plan ahead if your EV lease is ending soon, considering options in advance.
  • Options include turning it in and leasing another EV with competitive programs.
  • Residual value plays a significant role in lease programs.
  • Consider buying out your lease if leasing another EV is not suitable.
  • Beware of mandatory fees when buying out a lease and understand the residual value.
  • Purchasing the leased EV at a lower market price might be negotiated.
  • Another option is to turn in the leased EV and buy a used EV, considering cost advantages.
  • Consider an extension from your leasing company if unsure about the next steps.
  • When buying a used EV, watch out for extra fees and consider out-the-door prices.

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