Best EV Lease Deals April 2026: 15-Brand Comparison

April 2026 EV leasing runs on the same two rails as March. Toyota Motor Credit and Lexus Financial hold MF 0.00001 — literally 0% APR on the bZ and RZ lineups. Below that, nobody else is even close on rate. The rest of the market competes on cash: Hyundai Motor Finance puts $13,500–$14,000 on the IONIQ 9 at 36 months (market rate MF, doesn't matter), Kia Motor Finance keeps $9,800 on the Niro EV, Honda cut the Prologue's MSRP by $7,500 across all trims effective April 1 — and Financial still runs MF 0.00074 (1.78% APR) with up to $10,000 in stackable cash on top of the lower sticker. One key shift from March: the Ford Mustang Mach-E MF jumped from 0.00132 to 0.00189 — that's $92/month more expensive on the entry trim with no corresponding cash increase.

The cheapest EV lease payment in the dataset remains the Kia Niro EV Wind at ~$347/month pre-tax — $9,800 cash on a $39,700 car. The best rate story is the Toyota bZ XLE Plus FWD at ~$471/month at 0% APR. The best value on a 3-row EV is the Hyundai IONIQ 9 S RWD at ~$431/month — a $55,000 SUV that leases for less than a Honda CR-V because Hyundai is dumping $13,500 in Lease Cash to move it.

April 2026 EV Lineup: Every Brand at a Glance

The table below shows the best available MF per brand, corresponding APR, residual at 36mo/12K miles, non-conditional incentive, and estimated pre-tax monthly on the entry trim. Data from respective captive lender Northeast rate sheets, April 2026.

Toyota bZ + bZ Woodland — 0% APR, $7,000 Cash

Toyota Motor Credit holds MF 0.00001 on every 2026 bZ trim for April — the same rate as March. Nothing changed on the rate side. The one adjustment: the bZ Woodland base cash dropped from $7,000 to $6,500, which adds ~$14/month to the Woodland payment versus March. The standard bZ stays at $7,000 non-conditional Lease Cash.

The bZ XLE Plus FWD remains the headline deal: a $42,000 SUV at ~$471/month where the entire 36-month rent charge totals $19. At 0% APR, every dollar you pay is depreciation — there is no financing cost to negotiate away. The bZ XLE AWD at $53,390 MSRP produces ~$637/month at the same rate with 44% residual; worth doing if you want AWD but you're paying for the car, not the money.

Stacking on the standard bZ: the bZ Lease Loyalty Cash adds $5,000 (NE region, excludes Southeast), capping the stack at ~$13,000 with military and college grad on top. No conquest on any trim. This loyalty offer is targeted — only lessees with a Toyota Financial Services lease maturing between January 6 and June 30, 2026 receive a unique certificate via direct mail or email; you must present that certificate (or have the dealer pull it from Signal/CSC) at signing. Any Toyota lease maturity qualifies, not just a prior bZ. If you didn't get a mailer, ask the dealer to confirm eligibility before building your deal around the $5,000. Expiration: May 4, 2026.

Lexus RZ — 0% APR, Residual Improved to 52%

Lexus Financial Services runs the same MF 0.00001 on all 2026 RZ trims — siblings under Toyota Motor Credit. One improvement from March: the base RZ 450e AWD residual moved from 51% to 52%, shaving ~$13/month off the base payment. The RZ 450e AWD entry now runs ~$594/month pre-tax on ~$50K MSRP.

The April program adds a new angle: the RZ 350e FWD (single-motor, ~241 hp) starts at a lower MSRP and runs the same MF 0.00001 at 51% residual — ~$585/month. For buyers who don't need AWD, the 350e FWD is a $9/month saving over the 450e AWD on a car that still does 0–60 in 7 seconds. Base cash is $2,750 on all RZ trims. Conditional add-ons: military $1,000 and college grad $1,000 — max stack $4,750. Partnership certificates also available for BofA, Morgan Stanley, and PGA of America members ($750–$1,000 each, separate eligibility). No loyalty, no conquest on any RZ trim.

Hyundai IONIQ 5 + IONIQ 9 — Massive Cash Dominates

Hyundai Motor Finance restructured the IONIQ 5 program for April. In March, select trims carried near-zero money factors. In April, only the IONIQ 5 Limited AWD gets the subsidized rate — MF 0.00007 (0.17% APR). Every other IONIQ 5 trim runs market rate (0.00213–0.00229, roughly 5.1–5.5% APR). The offset: those market-rate trims now carry $6,500–$7,500 in Lease Cash, which matters far more than 5 percentage points of APR on a 36-month deal.

Run the math on the SE Standard Range RWD: $7,250 cash on a ~$41,450 car (36mo) reduces the cap cost to $34,200. At 54% residual and MF 0.00213, the pre-tax payment is ~$449/month. The rent charge at 5.1% APR costs about $120/month — but the $7,250 cash saves you $201/month in depreciation versus paying full price. Cash wins by $81/month. The Limited AWD flips the math: $1,000 cash, MF 0.00007 on a $51,500 car. Payment is ~$550/month — the near-zero rate saves $60/month in rent charges but you're dragging $50,500 in cap cost versus $34,200 on the SR. Different car, different use case, same captive lender strategy.

The IONIQ 9 is a different story entirely. MF is market rate (0.00224–0.00229) across all trims, but Hyundai is running $13,500 (S RWD) to $14,000 (SE AWD) in Lease Cash at 36 months. On the SE AWD at ~$57,000 MSRP, that's $14,000 off the cap cost — producing a ~$436/month pre-tax payment on a 3-row electric SUV with 300+ miles of range. The S RWD (entry trim) at ~$55,000 with $13,500 cash comes in at ~$431/month. That is a remarkable outcome on a $55K vehicle. For context: the Kia EV9 (same platform, less cash) runs ~$511/month entry.

Kia Niro EV + EV9 — Best Payment and Best 3-Row Value

The Kia Niro EV Wind at ~$347/month is the cheapest EV lease payment in the April dataset. The math is simple: $9,800 in non-conditional Lease Cash on a ~$39,700 car reduces the cap cost to $29,900. At 54% residual ($21,438) and MF 0.00219, depreciation is $235/month and the rent charge is $112/month. No magic — just a lot of cash. The Wave trim ($42,500 MSRP) gets $9,950 cash — $150 more — and comes in at ~$388/month.

The EV9 runs a different program. Kia Motor Finance posts Lease Cash that varies by trim: the Light LR RWD gets $11,400, Wind AWD $11,650, Land AWD $11,700. The Light Long Range RWD at ~$57,000 MSRP with $11,400 cash and 59% residual produces ~$504/month. The Wind AWD at ~$62,000 MSRP with 61% residual and $11,650 cash comes in at ~$540/month. Military buyers get an additional $500 on top.

Neither Kia product runs a subsidized rate. MF 0.00219 (5.26% APR) is market. These deals work entirely on cash volume, not captive subsidy. That makes them straightforward to verify: the Kia program is what it says it is on the rate sheet.

Honda Prologue — $7,500 Price Cut + 1.78% APR + Up to $10,000 Cash

Honda cut the Prologue's MSRP by $7,500 across all trims effective April 1 — the EX 2WD drops from ~$48,800 to $41,395, Touring AWD to ~$46,200, Elite AWD to $51,895. Honda Financial held MF 0.00074 (1.78% APR) across all trims unchanged, plus $5,000 in non-conditional Lease Cash. The combined effect brings the EX 2WD to ~$456/month pre-tax — down from ~$563 in March on the same program.

The stackable cash story is unchanged: $2,000 loyalty (Honda-to-Honda) or $2,000 conquest (coming from non-Honda) — mutually exclusive, either brings total cash to $7,000. EX 2WD with loyalty or conquest drops to ~$399/month. The EX AWD adds about $30/month for all-wheel drive at the same rate and residual. Max stack including military/college grad: $10,000 total.

The Prologue is GM's Ultium platform wearing Honda badges (the body is built by GM in Michigan). If you're cross-shopping it against the Equinox EV RS, the Prologue now wins on payment outright: ~$456 vs ~$571, with more guaranteed non-conditional cash ($5,000 vs $0) and a lower MF (0.00074 vs 0.00081). The Equinox RS still holds the stronger residual (60% vs 52%), but that advantage doesn't close the payment gap at current MSRPs.

BMW i4 + i5 + iX + i7 — Rates Hold, iX Gets $7,500 Cash

BMW Financial Services held its April EV programs steady. i4 eDrive40 stays at MF 0.00035 (0.84% APR) with $3,750 base Lease Credit — the cheapest-to-finance German EV in the market. At 54% residual on a ~$57,900 eDrive40, the pre-tax payment is ~$666/month. The xDrive40 at ~$62,900 with 55% residual comes in at ~$714/month. The M60 jumps to MF 0.00085 — the captive rate advantage disappears on the performance trim, adding ~$60/month in rent charges.

The iX story is the $7,500 non-conditional Lease Credit across all trims, paired with a fixed 52% residual. The xDrive45 at ~$88,000 runs MF 0.0008 (1.92% APR) and produces ~$1,066/month after the cash offset. The M70 gets MF 0.00045 (1.08%) — a lower rate on a higher-priced SUV; the payment is ~$1,288/month at ~$107K MSRP. The rate differentiation matters, but at this price point the car cost dominates every month.

The i7 runs MF 0.001 (2.40% APR) with $7,500 base cash plus $4,000 loyalty and $2,000 conquest — the most aggressive stack in the BMW EV lineup. If you're coming from a BMW (or eligible for conquest), the i7 eDrive50 gets to $11,500 in total incentives, which significantly changes the payment math on a $111K car.

Genesis Electrified GV70 + GV60 — Rate Story Weakened

Genesis Financial ran MF 0.00008 on the eGV70 Advanced 20 in March. In April, the best rate in the eGV70 lineup is MF 0.00019 on the Prestige 20 (0.46% APR) — still excellent for a luxury SUV, but not the near-zero story it was last month. The entry "19" trim runs MF 0.00046 (1.10% APR); the Advanced 20 is MF 0.00037 (0.89% APR).

The fundamental structural issue remains unchanged: $0 non-conditional cash on the eGV70. Max incentive is $1,400, all conditional (military, college grad, first responder). With no base cash to reduce cap cost, the eGV70 payments run ~$892–$1,021/month depending on trim — these are rate-subsidized luxury leases, not deals driven by affordability. The 19 trim at ~$892/month is actually the cheapest despite the weakest rate, because it's the least expensive car. The Prestige 20 at ~$1,021/month has the best rate but the highest MSRP; near-zero rent charges matter less when you're depreciating a $72,000 vehicle.

The GV60 Performance AWD at MF 0.00058 (1.39% APR) on a ~$72,600 vehicle produces ~$993/month with zero cash. The entry GV60 19 AWD at MF 0.00114 with 55% residual comes in at ~$685/month on ~$48,000 MSRP — genuinely competitive in the compact luxury EV space if you can tolerate the no-cash structure.

Cadillac OPTIQ + LYRIQ — OPTIQ Holds, LYRIQ at $1,000 Cash + 64% Residual

The OPTIQ program is largely intact from March. The Sport trim runs MF 0.0009 (2.16% APR) with 61% residual — the best rate/RV combination in the OPTIQ lineup. At ~$52,990 MSRP with $1,000 base cash, the payment is ~$622/month. The Luxury entry at MF 0.00106 and 61% residual on ~$50,090 comes in at ~$599/month. Both are reasonable for a $50K domestic electric crossover. The conquest program ($2,000) and loyalty ($2,000) apply but are mutually exclusive — max realistic stack is $3,500 ($1K base + $2K loyalty/conquest + $500 military or first responder).

The LYRIQ runs MF 0.00157 (3.77% APR) on the Luxury trim with $1,000 base cash — same as March. One improvement: the residual moved from 62% to 64%, the highest for any model in the EV dataset. At $59,200 MSRP with $1,000 off cap cost, the Luxury payment comes in at ~$715/month. Loyalty adds $1,000 for Cadillac EV owners (Cadillac-to-Cadillac EV); no standard consumer conquest program in April.

Volvo EX30 / EX40 / EX90 — EX40 Still the Best Volvo EV Program

Volvo Financial runs consistent programs across the EX lineup. The EX40 carries the strongest deal: $7,500 in non-conditional Lease Cash on all trims at MF 0.00126 (3.02% APR). The Single Motor Extended Range RWD Plus at ~$54,473 drops to a $46,973 cap cost, producing ~$656/month pre-tax. The Twin Motor AWD Plus at ~$58,050 runs ~$728/month.

The EX30 gets $4,500 in base cash but runs MF 0.00271 (6.50% APR) — the same rate as March. One change: the Single Motor RWD Plus residual dropped from 54% to 51%, adding ~$30/month versus the March program. The RWD Plus now runs ~$565/month on ~$39,648. The Twin Motor AWD Plus holds 55% residual and runs ~$612/month. If you're buying an EX30 on rate and cash alone, the AWD Plus is the better lease per dollar of car despite costing more.

Chevy Equinox EV — Decent Rate, Conditional Cash Only

The Equinox EV RS runs MF 0.00081 (1.94% APR) with a 60% residual — the best rate/RV combination in the domestic non-luxury EV segment. The catch: there is $0 in non-conditional base cash. Every dollar of incentive on the Equinox EV is conditional: loyalty ($1,000), conquest ($1,250), military ($500), first responder ($500). Max realistic stack for a loyalty buyer is $1,500; for conquest it's $1,750. Without qualification, you're at full cap cost.

At the RS trim, full cap cost at 60% residual and MF 0.00081 produces ~$571/month pre-tax on ~$45,995 MSRP. With $1,250 conquest, that drops to ~$536/month. The LT1 entry runs MF 0.00108 at 60% residual for ~$501/month on ~$38,990 — a reasonable entry if you don't qualify for conquest but want the strong residual. Compare to the Honda Prologue at ~$456/month (after the April 1 MSRP cut) with $5,000 guaranteed non-conditional cash: the Prologue is now cheaper and the cash isn't contingent on anything.

Porsche Taycan — No Cash, Strong Residuals, Full Sticker

Porsche Financial Services publishes MF 0.0025 (6.00% APR) across every Taycan trim and term for April 2026 — identical to March, and consistent with Porsche's historical refusal to subsidize rate. There is no non-conditional lease cash. No loyalty waiver, no conquest bonus, no regional support. The only conditional programs are end-of-lease payment waivers available to returning Porsche Financial customers. If you're not already in the Porsche ecosystem, you are paying full sticker at market rate.

What Porsche does offer is best-in-class residuals relative to MSRP for an EV. The RWD Taycan holds 56% at 36mo/12K — identical to the BMW i4 M50 — on a car starting at $105,800. At 24 months and 7,500 miles, PFS books 65% residual on both the RWD and Taycan 4 AWD — the highest short-term residuals in this entire EV dataset. If you want a 24-month Porsche, you are in the best position in the Taycan's leasing history. At 36 months, the rate and residual are simply what they are: no negotiating the program.

VW ID.4 + Ford Mach-E + Audi Q4 e-tron + Mercedes EQE/EQS/CLA — One Good Rate, Three to Skip

VW ID.4 holds MF 0.00025 (0.60% APR) on all trims — consistent from March and one of the better rates in the EV market. The problem is the same as March: VW posts zero non-conditional cash and the residuals sit at a flat 46% across all ID.4 configurations. At 0.60% APR the rent charge is minimal, but a 46% residual means you're depreciating 54% of a $42,000 car over 36 months. Pre-tax payment on the Pro RWD is ~$645/month. Conditional programs include military/first responders ($500), Joint Venture EV Lease Bonus ($1,000), and Driver Access Program ($1,000) — up to $2,500 for qualifying buyers, but that doesn't help the math for the average shopper. Good rate, bad depreciation structure — still a skip without a residual improvement or broad cash.

Ford Mustang Mach-E is the April regression story. MF moved from 0.00132 (3.17% APR) in March to 0.00189 (4.54% APR) — a 43% rate increase with no offsetting cash change. Base cash stays at $2,000. On the Select RWD at ~$43,500 MSRP, the payment jumps from ~$554/month (March) to ~$646/month — $92/month worse. Nothing else changed. The residuals are 52–53%, which is fine. The rate increase is Ford Financial pulling subsidy from a vehicle that isn't moving.

Audi Q4 e-tron runs MF 0.00293 (7.03% APR) — worst money factor in the EV dataset — with $3,000 non-conditional cash. At 50–51% residuals, you're paying almost twice the rent charge of the VW ID.4 on a platform that shares significant engineering. The cash doesn't compensate. Skip.

Mercedes EQE + EQS — MBFS runs two completely different programs depending on which line you're in, and neither produces a good lease. The EQS Sedan has a genuinely competitive rate: MF 0.00082 (1.97% APR) on the 450+ and 450 4MATIC. The problem is the residual — 46% at 36mo/12K on a $100,000+ car. You're financing 54% depreciation at 1.97% APR. The rate saves you ~$130/month in rent charges versus market rate; the low residual costs you ~$1,538/month in depreciation. The rate doesn't matter when the residual is this bad.

The EQE is worse on both axes. The base EQE 320 Sedan runs MF 0.00232 (5.57% APR) — market rate for a brand running EV subsidies elsewhere — with a 48% residual. High rate, high depreciation. The EQE 320 Plus Sedan steps down to MF 0.00148 but the residual drops further to 44%. The AMG EQE 4MATIC+ Sedan gets the best EQE rate (MF 0.00133, 3.19% APR) but still sits at 44% RV on a ~$102K car — ~$1,782/month. $0 non-conditional consumer cash on every trim. There is $3,500 in dealer-directed incentives — that goes to the dealer, not to you. Don't count on it reducing your cap unless the dealer explicitly applies it.

The Mercedes CLA Sedan is the one genuinely interesting Mercedes EV story for 2026. The CLA 250+ RWD starts at $47,250 (268 hp, 374-mile range) and the CLA 350 4MATIC AWD at $49,800 (349 hp, 312-mile range) — both on 800V architecture for fast charging. At MF 0.00138 (3.31% APR) with 51–52% residuals, the CLA 250+ comes in at ~$729/month pre-tax and the 4MATIC at ~$782/month. That makes the CLA the most affordable Mercedes EV lease by a wide margin — under $800/month on a new-architecture Mercedes sedan. $0 non-conditional consumer cash on both trims. There is a $5,500 dealer-directed incentive — same structure as EQE/EQS. It goes to the dealer; don't count on it reducing your cap unless explicitly applied.

How These Payments Were Calculated

All monthly estimates use the standard lease payment formula: depreciation component + rent charge:

• All payments are pre-tax. Add your state/local tax rate (typically 6–13%) to get to-market payments.
• Assumes $0 cap cost reduction (no down payment) beyond the non-conditional Lease Cash applied as a cap reduction.
• Does not include acquisition fee (typically $595–$995 depending on captive), doc fee, registration, or first-month DAS. Those add to drive-off, not the monthly.
• Conditional incentives (loyalty, conquest, military, college grad) are not included in the base monthly. Stack them if you qualify — they're real cash.
• MSRPs are midpoints of published ranges or commonly listed configurations. Actual dealer MSRP may vary.
• Data sourced from Northeast regional captive lender rate sheets, April 2026. Programs vary by region — confirm current programs for your zip code before signing.
• MF × 2,400 = approximate APR. Example: MF 0.00035 × 2,400 = 0.84% APR.