Best EV Lease Deals March 2026: 11-Brand Comparison

March 2026 EV leasing splits into three unmistakable camps. Toyota Motor Credit and Lexus Financial deploy MF 0.00001 — essentially 0% APR on the bZ and RZ, with Toyota stacking up to $12,500 in incentives on top (NE region). Genesis Financial runs the Electrified GV70 Advanced 20 at MF 0.00008 — 0.19% APR. BMW Financial subsidizes the i4 eDrive40 at MF 0.00035 (0.84% APR) with $3,750 in Lease Credit. Every other captive lender runs market-rate MFs and competes on cash instead.

The cash-heavy camp is led by Hyundai Motor Finance ($14,000 on the IONIQ 9 SE AWD), Kia Motor Finance ($11,600–$12,100 on the EV9), and Cadillac ($1,000 base cash with up to $3,500 stacked for eligible loyalty buyers on LYRIQ and OPTIQ). The result: the Kia Niro EV Wind produces the cheapest EV lease payment in the dataset — ~$357/month pre-tax — driven by $9,825 Lease Cash on a $39,700 car. The Toyota bZ XLE Plus at ~$471/month at literally 0% APR is the best rate story. Both approaches work; only the mechanism differs.

March 2026 EV Lineup: Every Brand at a Glance

Eighteen brands offer pure BEV lease programs in March 2026. The table below shows the best available MF per brand (lowest trim), the corresponding APR, residual at 36mo/12K miles, non-conditional incentive range, and the estimated pre-tax monthly payment on the entry trim. Deals highlighted in green represent programs where the combination of rate and incentives produces a payment well below segment average.

Toyota bZ + bZ Woodland — 0% APR and Up to $12,500 in Cash

Toyota Motor Credit has deployed MF 0.00001 on every 2026 bZ trim — a money factor so close to zero that the rent charge on a $42,000 vehicle is literally $0.53/month. This is not a rounding artifact; it is a deliberate subsidy. Combined with $7,000 in non-conditional Lease Cash on the XLE Plus FWD, the payment on a $42,000 SUV drops to ~$471/month pre-tax. The bZ XLE Plus FWD is the headline EV lease deal in March 2026.

The bZ Woodland — Toyota's off-road-tuned AWD variant on a 375 hp dual-motor platform — runs the same MF 0.00001 and the same $7,000 base Lease Cash, but starts at $46,750. Its 44% residual (36mo/12K) matches the standard bZ, producing a ~$533/month entry payment. The key difference on incentives: the standard bZ gets the $5,000 "bZ Lease Loyalty Cash" program (max stack ~$12,500 NE). The Woodland does not — its loyalty ceiling is the $1,000 Regional program only (max stack ~$8,500). No conquest program exists on either trim in any region. Verify programs for your zip code before signing.

Lexus RZ 450e — 0% APR, High Residual

Lexus Financial Services runs the same MF 0.00001 on all RZ 450e trims as Toyota deploys on the bZ — the two programs are siblings under Toyota Motor Credit. The difference is the base Lease Cash: the RZ gets $2,750 non-conditional versus the bZ's $7,000, and the max stacked incentive on a 36-month deal reaches $4,750 (military $1,000 + college grad $1,000 — no loyalty or conquest program exists on the RZ). At 51% residual (versus the bZ's 43%), the RZ holds value better — but the smaller base cash means entry payments start at ~$607/month on the base AWD versus the bZ's $471. The delta is almost entirely the $4,250 gap in base Lease Cash.

Military and college grad buyers who stack to $4,750 total bring the base AWD to ~$551/month. The RZ's 51% residual absorbs more depreciation per dollar of MSRP than the bZ's 43% — the gap to the bZ is almost entirely the $4,250 difference in base Lease Cash.

Genesis Electrified GV70 + GV60 — Near-Zero APR on Luxury EVs

Genesis Financial runs the lowest rates outside Toyota/Lexus in the EV market. The Electrified GV70 Advanced 20 carries MF 0.00008 — 0.19% APR — on a $69,250 dual-motor AWD SUV with 429 hp and 263 miles of range. The base "19" trim runs MF 0.00016 (0.38% APR).

The catch: there is no non-conditional Lease Cash on the Electrified GV70. The max incentive of $2,900 is conditional (conquest, loyalty, military). With a 51% residual on a $64,380–$75,350 MSRP and no base cash to reduce cap cost, the monthly payments run ~$892–$1,038/month without incentives. These are not cheap leases — they're expensive cars with near-zero financing cost. The GV60 Performance AWD at MF 0.00058 (1.39% APR) on a $72,623 vehicle with 429 hp: same story — low rate, no cash.

BMW i4 + i5 + iX + i7 — Subsidized Rates Across the i-Series

BMW Financial Services runs a consistent subsidy on its i-Series lineup. The i4 eDrive40 and xDrive40 carry MF 0.00035 — 0.84% APR with $3,750 in Lease Credit. On a $57,900 i4 eDrive40, the rent charge is $29.90/month — the car costs ~$666/month pre-tax, of which finance cost is 4.5%. The xDrive40 adds AWD for $4,400 MSRP premium and a fractionally better 56% residual, arriving at ~$690/month. The M60 performance variant runs a higher MF 0.00085 (2.04% APR) but the same $3,750 cash.

The iX gets $7,500 in Lease Credit — double the i4/i5 amount. The iX xDrive45 at ~$890/month and xDrive60 at ~$1,086/month both run MF 0.00080–0.00090. The iX M70: despite being the 650 hp $111,500 flagship, it carries MF 0.00045 (1.08% APR) — lower than the xDrive45's 0.00080. The M70 at ~$1,351/month is the rate inversion in the lineup.

BMW i7 — Flagship EV Sedan

The i7 carries the same $7,500 non-conditional Lease Credit as the iX, but runs MF 0.00100 (2.40% APR) on the eDrive50 and xDrive60 — higher than the iX's 0.00080, but still a meaningful subsidy on a $105K–$124K sedan. At 52% residual on a $105,700 eDrive50, that's ~$1,354/month after the $7,500 credit. The M70 xDrive steps up to MF 0.00170 (4.08% APR) — market rate at $168,500.

The i7 loyalty program is notably larger than other i-Series models: $6,000 additional for existing BMW owners versus $500 on the i4/i5 and $1,000 on the iX. An existing BMW owner leasing the eDrive50 stacks to $13,500 total cash, dropping to ~$1,181/month — $173/month below base terms.

Hyundai IONIQ 5 + IONIQ 9 — Cash Dominates, Rate Is Secondary

Hyundai Motor Finance takes a split approach in March 2026. The IONIQ 5 Limited AWD carries MF 0.00007 — 0.17% APR — nearly zero financing cost. Every other IONIQ 5 trim runs 0.00213–0.00229 (5.1–5.5% APR). The result is counterintuitive: the Limited AWD at ~$558/month is the most expensive trim in the lineup despite near-zero APR, because it gets only $1,000 Lease Cash versus $6,500–$7,500 on other trims. The SE Standard Range RWD at ~$397/month is the deal — $7,250 Lease Cash on a $38,200 delivered car produces the lowest payment despite a 5.11% APR.

The IONIQ 9 — Hyundai's new three-row electric SUV — gets $13,000–$14,000 in non-conditional Lease Cash across all trims. This cash flood is applied to every buyer regardless of loyalty or conquest status. The S RWD base entry at $60,555 with $13,500 cash produces ~$516/month pre-tax on a brand-new three-row electric SUV. The SE AWD at $64,365 gets the most cash ($14,000) and arrives at ~$563/month.

Kia Niro EV + EV9 — $357/Month and $11K+ Cash

The Kia Niro EV Wind produces the cheapest electric lease payment in the March 2026 dataset at ~$357/month pre-tax. Kia Motor Finance stacks $9,825 in non-conditional Lease Cash on a $39,700 car, reducing the cap cost to $29,875. The rent charge at MF 0.00219 (5.25% APR) adds $111.50/month — not subsidized, but the cash offset is so large it doesn't matter. The Wave trim adds a surround-view camera and ambient lighting for $5,000 more MSRP and $82/month more at ~$439/month.

The EV9 carries $11,400–$12,100 in non-conditional Lease Cash across all five trims. The Light Short-Range RWD at $54,900 with $11,600 cash arrives at ~$496/month — under $500 for a 3-row electric SUV. The Wind AWD at $63,900 with $11,850 cash is ~$577/month. The residuals are strong at 60% (36mo/12K) across AWD trims — Kia is protecting lease value while still flooding cash. Military customers can add another $500 on top.

Cadillac OPTIQ + LYRIQ — The Conquest Multiplier

Cadillac's EV program has two layers. The base non-conditional Lease Cash is modest: $1,000 on both OPTIQ and LYRIQ. With $1,000 cash, the OPTIQ Luxury runs ~$596/month and the LYRIQ Luxury runs ~$715/month — reasonable for their respective segments but not standout deals. Loyalty buyers can stack up to $3,500 total ($1,000 base + $2,000 loyalty + $500 military/first responder) — conquest adds $2,000 but is mutually exclusive with loyalty. At $3,500 stacked, the OPTIQ Sport drops to ~$619/month.

Both models carry low base MFs: OPTIQ at 0.00087–0.00106 (2.09–2.54% APR) and LYRIQ at 0.00086–0.00204 depending on trim. The OPTIQ holds 60–62% residual and the LYRIQ 61–62% — strong for the segment.

Volvo EX30 / EX40 / EX90 — $4,500 to $7,500 in Base Cash

Volvo Financial Services runs consistent incentives across the EX lineup. The EX40 carries the strongest program: $7,500 in non-conditional Lease Cash across all trims, paired with MF 0.00126 (3.02% APR) — a fixed rate regardless of trim. The Single Motor Extended Range RWD Plus at $54,473 drops to an effective cap of $46,973, producing ~$642/month. The Twin Motor AWD Plus at ~$692/month delivers AWD + 402 hp with the same $7,500 cash.

The EX30 gets $4,500 in base cash but runs a higher MF 0.00271 (6.50% APR) — the rent charge at this rate noticeably impacts the monthly. The Single Motor RWD Plus at ~$535/month is compact and accessible; the Twin Motor AWD Ultra at ~$654/month is the top configuration. The EX90 flagship 7-seater at ~$1,152/month is expensive — $3,000 base cash on an $82,590 car does relatively little when MF is reasonable but the car is simply large.

Chevy Equinox EV + Blazer EV — Conquest Deal on the Equinox

The Chevy Equinox EV runs MF 0.00081–0.00108 (1.94–2.59% APR) across its trim range — competitive financing for a mass-market EV. The catch: there is $0 in non-conditional Lease Cash. Without incentives, the LT1 at ~$35,895 costs ~$461/month. With conquest cash ($2,250), it drops to ~$396/month on a $36K EV at under 2% APR. Conquest buyers switching from a non-GM brand should prioritize this program.

The Blazer EV tells a different story. The FWD LT carries a MF 0.00329 (7.90% APR) — above market for any vehicle. The FWD RS and AWD RS drop to MF 0.00195 (4.68% APR) with a stronger 60% residual, but there is still $0 base cash. No rate subsidy, no cash, and payments starting at ~$728/month on a $51K FWD RS — the Blazer EV is the weakest lease in the Chevy EV lineup this month.

Ford Mustang Mach-E — $2,000 Base Cash, Term Matters

Ford Credit runs $2,000 in non-conditional Lease Cash on all Mach-E trims, with additional conditional incentives (conquest $750, military $500, college grad $500) stacking to a max of $4,250. The MF splits by term: 0.00207 (4.97% APR) on 36-month and 0.00132 (3.17% APR) on 24-month. Despite the lower 24mo rate, 36mo wins on monthly payment for most trims because the 24mo residuals (60–62%) don't offset the compressed depreciation schedule — you're dividing the same depreciation over fewer months.

The Select RWD at ~$554/month (36mo) and Select AWD at ~$594/month are the entry deals. The GT AWD at ~$820/month on a $54,195 car is significantly more expensive — the 5.0% APR equivalent and only $2,000 cash on a $54K vehicle is not a strong program relative to other performance EVs this month.

VW ID.4 — Lowest MF in the Dataset, Worst Residuals

Volkswagen Financial Services runs MF 0.00025 — 0.60% APR on all 2026 ID.4 trims. This is the lowest money factor of any non-Toyota/Lexus EV in the dataset. The problem: residuals are 46% at 36mo/12K miles — the worst in the EV market. That 46% means 54% of the car's value depreciates over 36 months, which creates high depreciation charges that more than offset the 0.60% APR advantage.

The Pro RWD at $45,095 with no base cash and 46% residual costs ~$693/month despite 0.60% APR. Compare to the Toyota bZ XLE Plus FWD — $3,095 cheaper MSRP, 43% residual, $7,000 cash, same 0% APR — at ~$471/month. The ID.4's rate cannot compensate for the combination of low residuals and absent incentives. There is no non-conditional Lease Cash; confirmed conditional: military $500. Total max $3,500 includes additional eligibility programs (conquest, loyalty) — verify at point of sale.

Audi Q4 e-tron + Mercedes EQE — Skip This Month

The Audi Q4 e-tron runs MF 0.00284 — 6.82% APR with $3,000–$4,000 in non-conditional Lease Cash. On a $50,600 Premium 45 RWD, the rent charge alone adds $208/month, and the effective payment lands at ~$814/month — over $120/month more than a Lexus RZ 450e at 0% APR, on a car $500 cheaper. The Q4 Sportback variants run the same numbers. There is no lease rationale for the Q4 e-tron in March 2026 when the Toyota/Lexus/Genesis programs exist at a fraction of the financing cost.

The Mercedes EQE carries $3,500 in dealer-directed cash on all trims — labeled "Incentives Bonus Cash (MBFS Lease)" in the rate file, categorized as dealer cash. Whether this flows to the consumer depends on the dealership; it is not guaranteed consumer cash the way a captive's published Lease Credit is. Assuming full pass-through, the 320 Sedan drops from ~$1,178 to ~$1,056/month and the 320 4MATIC SUV drops to ~$1,099/month — materially better, but still among the most expensive EV leases in this dataset for their respective price points. The EQS SUV 400 4MATIC drops to ~$1,501/month with the same $3,500 dealer cash. Separately, the EQS Sedan lineup runs MF 0.00081–0.00083 (1.94–1.99% APR) — notably lower than the EQS SUV's 0.00177–0.00186 — though those trims start above $100K and the $3,500 cash does little against a six-figure cap cost.

Payment Assumptions