Best EV Lease Deals May 2026: 16-Brand Comparison
May 2026 EV lease rankings: Lexus RZ loses 0% APR (MF 0.00001→0.00120, +$78/mo). Chevy Equinox EV rate tripled to 6.50% APR with $0 cash. IONIQ 9 S RWD at ~$392/month with $15,000 cash. Subaru Trailseeker and Uncharted debut as new models. Toyota bZ holds 0% APR. Kia EV6 joins at ~$449/month. 16 brands, 60+ trims ranked.
May 2026 is the month the free ride ended for two of the best EV lease programs in the market. Lexus Financial dropped MF 0.00001 on the RZ — gone entirely, replaced by a market-rate 0.00120. That single change adds ~$78/month to the base RZ 350e FWD payment, erasing the biggest rate advantage in the luxury EV segment. Toyota Motor Credit held 0% APR on the bZ but pulled $1,500 in Lease Cash — adding ~$40/month. Meanwhile, Hyundai Motor Finance responded to both by raising IONIQ 9 cash to $14,500–$16,750 at 36 months — a 3-row, 335-mile-range SUV leasing at ~$486/month on the S RWD. Subaru brings two all-new models — the Trailseeker and the Uncharted — alongside the existing Solterra.
The cheapest EV lease payment this month is still the Kia Niro EV Wind at ~$347/month pre-tax — $10,450 in cash on a $39,700 car, the structure barely moved from April. The best value on a 3-row EV is the Hyundai IONIQ 9 S RWD at ~$486/month with $15,000 cash — a $60,555 3-row EV that Hyundai is pricing aggressively to move metal. Honda Prologue adds $1,450 more cash in May, dropping to ~$437/month on the entry trim. Chevy Equinox EV tripled its MF (0.00081 → 0.00271) with zero consumer cash — the biggest deterioration in the May lineup.
0%
Toyota bZ APR (unchanged)
MF 0.00001 — Lexus RZ lost 0% this month
~$347
Kia Niro EV Wind/month
Cheapest EV lease — $10,450 cash
~$486
IONIQ 9 S RWD / month (36mo)
$60,555 3-row SUV — $15,000 cash
+$78
Lexus RZ rate increase
MF 0.00001 → 0.00120, 0% APR gone
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May 2026 EV Lineup: 16 Brands 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, May 2026.
| Brand / Model | Best MF (36mo) | APR | RV (36/12K) | Non-Cond. Cash | ~Entry Monthly* | Verdict |
|---|---|---|---|---|---|---|
| Toyota bZ | 0.00001 | 0.02% | 43–45% | $5,500 | ~$490 | Best rate |
| Kia Niro EV | 0.00216 | 5.18% | 52% | $10,450 | ~$347 | Cheapest payment |
| Hyundai IONIQ 9 | 0.00224 | 5.38% | 57–59% | $14,500–$16,750 | ~$486 | Cash carry |
| Hyundai IONIQ 5 | 0.00208 | 4.99% | 54–57% | $7,250–$8,250 | ~$449 | Rate up, cash up |
| Honda Prologue | 0.00074 | 1.78% | 49–50% | $6,450 | ~$437 | +$1,450 cash |
| Kia EV9 | 0.00214 | 5.14% | 56–60% | $12,000 | ~$495 | Lease it |
| Kia EV6 | 0.00212 | 5.09% | 53–58% | $6,200–$6,500 | ~$423 | New to EV list |
| Subaru Uncharted NEW | 0.00054 | 1.30% | 47–49% | $2K–$6K† | ~$386–$501 | New entry EV |
| Subaru Trailseeker NEW | 0.00101 | 2.42% | 52–54% | $2K–$6K† | ~$423–$540 | New mid EV |
| Subaru Solterra | 0.00098 | 2.35% | 50–53% | $2K–$6K† | ~$427–$558 | Dealer cash key |
| BMW i4 | 0.00035 | 0.84% | 54–55% | $3,750 | ~$666 | Best luxury rate |
| BMW i5 2026 only | 0.00060 | 1.44% | 52% | $3,750 | ~$875 | 2027 = +$47/mo |
| BMW iX | 0.00045 | 1.08% | 52% | $7,500 | ~$1,066 | Reasonable |
| Genesis eGV70 | 0.00018 | 0.43% | 50% | $0 | ~$878 | Rate story |
| Lexus RZ | 0.00120 | 2.88% | 51–52% | $3,000–$6,500 | ~$663 | 0% APR gone |
| Cadillac OPTIQ | 0.00112 | 2.69% | 61% | $0† | ~$640 | Cash gone at 36mo |
| Cadillac LYRIQ | 0.00167 | 4.01% | 64% | $0† | ~$723 | Cash gone at 36mo |
| Volvo EX40 | 0.00088 | 2.11% | 46–47% | $7,500 | ~$655 | Reasonable |
| Volvo EX30 | 0.00261 | 6.26% | 53–55% | $4,500 | ~$565 | OK |
| Chevy Equinox EV | 0.00271 | 6.50% | 60% | $0 | ~$672 | Rate tripled |
| Porsche Taycan | 0.00250 | 6.00% | 44–52% | $0 | ~$1,706 | No deal, strong RV |
| VW ID.4 | 0.00313 | 7.51% | 45–47% | $6,000 | ~$607 | Rate↑ / Cash↑ |
| Ford Mustang Mach-E | 0.00189 | 4.54% | 51–52% | $2,000 | ~$646 | Unchanged |
| Ford F-150 Lightning | 0.00308 | 7.39% | 47–49% | $0 | ~$849+ | Skip — Finance |
| Audi Q4 e-tron | 0.00293 | 7.03% | 50% | $3,000 | ~$820 | Skip |
| Mercedes EQE / EQS | 0.00082† | 1.97%† | 44–48% | $0‡ | ~$1,340 | Skip |
†Best MF applies to select trims only. MF × 2400 = approximate APR. *Pre-tax, 36mo/12K miles, entry trim, non-conditional incentives only. Data from respective captive lender Northeast rate sheets, May 2026. EV6 entry monthly uses Light RWD ($37,900 MSRP, $6,500 cash, 53% RV). †Subaru $4K dealer cash is not guaranteed to pass through to consumer — see Subaru section. †Mercedes EQS Sedan 0.00082; EQE runs 0.00082–0.00232 by trim. ‡Mercedes $3,500 is dealer-directed cash, not a consumer incentive. OPTIQ/LYRIQ cash only available at 39mo.
Toyota bZ — 0% APR, $5,500 Cash (Down $1,500 from April)
Toyota Motor Credit holds MF 0.00001 on every 2026 bZ trim for May — the rate is unchanged from April. What changed: the base Lease Cash dropped from $7,000 to $5,500 across standard bZ trims, and the bZ Woodland holds at $5,500 as well (was $6,500 in April). That $1,500 cash reduction adds ~$42/month to the entry payment.
The bZ XLE Plus FWD runs ~$490/month at 0% APR on ~$42,000 MSRP — still the best rate-driven EV lease in the market by a wide margin, just slightly less compelling than April. The entire 36-month rent charge is under $20. The bZ Woodland Base AWD with a 44% residual at ~$46,750 runs ~$567/month.
On stacking: bZ Lease Loyalty Cash adds $5,000 in the NE region (excludes Southeast). This offer is targeted — it requires a maturing TFS lease (any Toyota model) between January 6 and June 30, 2026, with a unique certificate sent by direct mail or email. Present that certificate at signing or have the dealer pull it. You cannot assume eligibility; confirm before building the deal around it. Military and college grad stack on top. No conquest on any bZ trim in any region.
| Trim | MSRP | MF (36mo) | RV (36/12K) | Lease Cash | ~Monthly* |
|---|---|---|---|---|---|
| bZ XLE FWD | ~$40,000 | 0.00001 | 43% | $5,500 | ~$481 |
| bZ XLE Plus FWD | ~$42,000 | 0.00001 | 45% | $5,500 | ~$490 |
| bZ Limited FWD | ~$43,400 | 0.00001 | 43% | $5,500 | ~$526 |
| bZ XLE AWD | ~$53,390 | 0.00001 | 44% | $5,500 | ~$656 |
| bZ Woodland Base AWD | $46,750 | 0.00001 | 44% | $5,500 | ~$567 |
*Pre-tax, 36mo/12K. Non-conditional cash only. Standard bZ max stack ~$12,000 NE ($5.5K base + $5K bZ Loyalty Cash + $500 military/college grad). Loyalty offer is targeted: requires a maturing TFS lease (any Toyota) 1/6–6/30/2026 with unique certificate; verify eligibility before assuming. No conquest on any bZ. Data: Toyota Financial Services NE, May 2026.
Toyota bZ Verdict
Rate unchanged at 0% APR — still the best MF in the EV market. The $1,500 cash reduction (April $7,000 → May $5,500) costs ~$42/month, moving the XLE Plus from ~$471 to ~$490. Still the best rate-driven deal available. Loyalty buyers get $5K on top (targeted, certificate required) — max ~$12K NE brings the XLE Plus to ~$351/month. No conquest in any region.
Lexus RZ — 0% APR Gone, MF Jumps to 0.00120
This is the biggest program change in May 2026. Lexus Financial Services dropped the 0.00001 MF on the RZ entirely. Every 2026 RZ trim — RZ 350e FWD, RZ 350e Premium FWD, RZ 450e AWD, RZ 550e F Sport AWD — now runs MF 0.00120 (2.88% APR) at 36 months. That's a 0.00119 increase in money factor, adding ~$84 in rent charges per month on the base RZ 350e FWD at ~$48,600 MSRP. Net payment after the $3,000 Lease Cash moves from ~$585/month to ~$663/month — a $78/month hit.
The incentive structure partially softened the blow for two trims. The RZ 450e AWD (base) and RZ 450e Luxury AWD now carry $6,500 in base Lease Cash at 36 months (up from $2,750 in April), which offsets roughly $92/month of the MF-driven payment increase. Those two trims net out better than April on payment. The RZ 350e FWD, RZ 350e Premium FWD, and RZ 550e F Sport AWD stay at $3,000 — no corresponding cash bump, so those trims are simply more expensive.
| Trim | MSRP | MF (36mo) | RV (36/12K) | Lease Cash | ~Monthly* |
|---|---|---|---|---|---|
| RZ 350e FWD | ~$48,600 | 0.00120 | 51% | $3,000 | ~$663 |
| RZ 350e Premium FWD | ~$50,148 | 0.00120 | 51% | $3,000 | ~$688 |
| RZ 450e AWD (base) | ~$55,150 | 0.00120 | 51% | $6,500 | ~$706 |
| RZ 450e Luxury AWD | ~$60,500 | 0.00120 | 51% | $6,500 | ~$795 |
*Pre-tax, 36mo/12K. Non-conditional cash only. Loyalty adds $1,000; military and college grad add $1,000 each; max stack ~$9,500 at 36mo on RZ 450e base/luxury trims. April comparison: RZ 350e FWD was ~$585/month at MF 0.00001 with $2,750 cash — now ~$663/month with $3,000 cash. Data: Lexus Financial Services NE, May 2026.
Lexus RZ Verdict — 0% APR Gone
The Lexus RZ at 0.00001 MF was one of the two best EV lease programs in the market alongside the Toyota bZ. That's over. At 0.00120 (2.88% APR), the RZ 350e FWD moves from ~$585 to ~$663/month — a $78/month hit with no offset on the entry trim. The RZ 450e base and Luxury trims get $6,500 cash (up from $2,750) which softens the rate hit on those configs. If you were planning to lease an RZ specifically for the 0% APR, that rationale is gone. The 51% residual is still solid; the car still makes sense at this rate, but it's no longer in a separate category from other luxury EVs.
Hyundai IONIQ 5 + IONIQ 9 — More Cash, Market-Rate MF
The IONIQ 9 is the story of May for Hyundai Motor Finance. Cash at 36 months went up across every trim: S RWD now carries $15,000, SE AWD gets $15,500, SEL AWD gets $16,750, and the Performance Limited AWD gets $15,250. The MF held at market rate (0.00224–0.00227 at 36mo/12K), so all the improvement came from cash. At $15,000 cash on the S RWD, the payment on a $60,555 SUV is ~$486/month. That's a 3-row, 335-mile-range EV with 7 seats — no other 3-row EV in the market is structurally close at this payment.
IONIQ 5 in May is a different story. The subsidized MF (0.00007) that applied to select trims in April is gone. Every trim now runs market-rate MF in the 0.00208–0.00227 range at 36 months. To offset this, HMF put real cash on the table: $7,250–$8,250 at 36 months depending on trim. The net result for the entry trim is roughly flat — the SE Standard Range RWD at ~$41,450 still prices out around ~$449/month with $7,250 cash. The trims that specifically benefited from the 0.00007 subsidized rate in April are now meaningfully more expensive, because the rate went up while the cash increment didn't fully compensate.
| Model / Trim | MSRP | MF (36mo) | RV (36/12K) | Cash (36mo) | ~Monthly* |
|---|---|---|---|---|---|
| IONIQ 9 | |||||
| IONIQ 9 S RWD | $60,555 | 0.00224 | 57% | $15,000 | ~$486 |
| IONIQ 9 SE AWD | $64,365 | 0.00227 | 58% | $15,500 | ~$516 |
| IONIQ 9 SEL AWD | ~$66,320 | 0.00222 | 57% | $16,750 | ~$516 |
| IONIQ 5 | |||||
| IONIQ 5 SE Standard Range RWD | ~$41,450 | 0.00213 | 54% | $7,250 | ~$449 |
| IONIQ 5 SE RWD | ~$43,000 | 0.00227 | 57% | $7,500 | ~$435 |
| IONIQ 5 XRT AWD | ~$49,400 | 0.00227 | 56% | $8,250 | ~$518 |
*Pre-tax, 36mo/12K. Non-conditional cash only. IONIQ 9 max: +$500 military + $400 college grad + $500 first responder. IONIQ 5 max: +$500 military + $400 college grad + $500 first responder. MSRPs are estimates; verify with your dealer. Data: Hyundai Motor Finance NE, May 2026.
Hyundai EV Verdict
The IONIQ 9 is the best value 3-row EV on the market — $15,000–$16,750 in non-conditional cash at 36mo puts a $60,555 S RWD at ~$486/month. Nothing else with this much space, range, and safety rating leases anywhere close. The IONIQ 5 in May is deal-neutral for the entry trim (subsidized rate gone, replaced by higher cash) but worse for any trim that specifically benefited from the April 0.00007 rate tier. If you were waiting on IONIQ 5, the window on the exceptional April deal has closed.
Kia Niro EV + EV6 + EV9 — EV6 Joins the Program
Kia Motor Finance kept the Niro EV program nearly identical to April. The Wind trim carries $10,450 in non-conditional Lease Cash at 36 months (up slightly from $9,800 in April), MF held at 0.00216, and the RV moved from 54% to 52%. Net payment on the Wind (~$39,700 MSRP) stays at ~$347/month. That is still the cheapest EV lease payment in the May EV lineup.
The EV6 is new to the captive EV rate sheet this month. Kia Motor Finance runs MF 0.00212–0.00217 across trims — market rate, no subsidized tier. The structure mirrors the Niro EV: cash does the heavy lifting. Non-conditional Lease Cash at 36 months ranges from $6,200 (GT-Line RWD, Light LR AWD) to $6,500 (Light, Wind, GT-Line AWD). Residuals are 53–58% at 36/12K. The entry Light RWD at $37,900 with 53% RV and $6,500 cash runs ~$423/month — right alongside the Niro EV Wave. The Wind RWD at $44,800 with 56% RV and $6,500 cash runs ~$504/month. The GT-Line RWD at $48,700 with $6,200 cash runs ~$573/month. AWD trims add $534–$565/month.
The EV9 program is effectively flat month over month. The entry Light RWD carries $12,000 in Lease Cash, MF 0.00214 (5.14% APR), and a 56% residual — landing at ~$495/month on its $54,900 MSRP. The Light Long Range RWD steps up to ~$537/month ($11,920 cash, 58% RV). The EV9 Wind AWD with 60% residual and $12,150 cash on ~$63,900 MSRP runs ~$567/month. Land AWD (~$68,900, $12,200 cash, 59% RV) runs ~$656/month and the GT-Line AWD (~$71,900, $12,100 cash, 60% RV) hits ~$686/month.
| Model / Trim | MSRP | MF (36mo) | RV (36/12K) | Cash (36mo) | ~Monthly* |
|---|---|---|---|---|---|
| Niro EV | |||||
| Niro EV Wind | ~$39,700 | 0.00216 | 52% | $10,450 | ~$347 |
| Niro EV Wave | ~$44,700 | 0.00217 | 52% | $10,700 | ~$423 |
| EV6 (New to EV List) | |||||
| EV6 Light RWD | $37,900 | 0.00212 | 53% | $6,500 | ~$423 |
| EV6 Light LR RWD | $42,745 | 0.00217 | 57% | $6,250 | ~$469 |
| EV6 Wind RWD | $44,800 | 0.00216 | 56% | $6,500 | ~$504 |
| EV6 GT-Line RWD | $48,700 | 0.00215 | 56% | $6,200 | ~$573 |
| EV6 Light LR AWD | $47,745 | 0.00215 | 58% | $6,200 | ~$534 |
| EV6 Wind AWD | $48,800 | 0.00216 | 57% | $6,500 | ~$554 |
| EV6 GT-Line AWD | $48,700 | 0.00217 | 56% | $6,500 | ~$565 |
| EV9 | |||||
| EV9 Light RWD | $54,900 | 0.00214 | 56% | $12,000 | ~$495 |
| EV9 Light LR RWD | ~$59,250 | 0.00216 | 58% | $11,920 | ~$537 |
| EV9 Wind AWD | ~$63,900 | 0.00216 | 60% | $12,150 | ~$567 |
| EV9 Land AWD | ~$68,900 | 0.00216 | 59% | $12,200 | ~$656 |
| EV9 GT-Line AWD | ~$71,900 | 0.00217 | 60% | $12,100 | ~$686 |
*Pre-tax, 36mo/12K. Non-conditional cash only. EV6 MSRPs confirmed. Niro EV max stack: Lease Cash + $500 military + $400 college grad. EV6/EV9 max: similar conditional stack. Data: Kia Motor Finance NE, May 2026.
Kia EV Verdict
Niro EV Wind is still the cheapest EV lease in the market at ~$347/month. EV6 Light RWD at ~$423/month is a clean entry — $37,900 MSRP, $6,500 cash, and a 53% residual. That payment is roughly the same as the Niro EV Wave, on a sportier, longer-range platform. If you want more range, the Light LR RWD at ~$469 adds long-range battery for $46/month more. The Wind RWD at ~$504 brings AWD-adjacent range and a sportier package. EV9 Light RWD at ~$495/month is the best 3-row Kia entry; the IONIQ 9 S RWD at ~$486 still undercuts it by ~$9/month.
Honda Prologue — +$1,450 Cash, Rate Unchanged
Honda Financial Services kept the Prologue rate at MF 0.00074 (1.78% APR) — the same as April. The change is on the cash side: non-conditional Lease Cash increased by $1,450 to $6,450 on the EX FWD and EX AWD trims at 36 months. The EX 2WD at $41,395 MSRP runs ~$437/month — down from ~$456 in April. At 1.78% APR with this level of cash on a purpose-built GM Ultium platform SUV, the Prologue continues to offer strong payment efficiency for its price point.
For stackers, Honda Financial also runs up to $7,500 in conquest cash (varies by region and qualification). HFS also offers loyalty cash and dealer-directed amounts. Stack eligibility depends on your current financed or leased vehicle — confirm with the dealer before running numbers.
| Trim | MSRP | MF (36mo) | RV (36/12K) | Lease Cash | ~Monthly* |
|---|---|---|---|---|---|
| Prologue EX 2WD | $41,395 | 0.00074 | 50% | $6,450 | ~$437 |
| Prologue EX AWD | ~$44,895 | 0.00074 | 49% | $6,450 | ~$497 |
*Pre-tax, 36mo/12K. Non-conditional cash only. Conquest stack up to $7,500 (region/eligibility dependent). April comparison: EX 2WD was ~$456/month with $5,000 cash. Data: Honda Financial Services, May 2026.
Honda Prologue Verdict
Rate unchanged at 1.78% APR. $1,450 more cash in May moves the EX 2WD from ~$456 to ~$437/month. At this rate and cash combination, the Prologue is the most efficient lease per dollar of MSRP among non-HMF vehicles. If you qualify for conquest, the effective payment drops sharply.
Subaru Solterra, Trailseeker + Uncharted
Subaru's EV lineup now has three models with published lease programs. The Solterra has been in the lineup since 2023. This month adds two all-new models: Trailseeker, a mid-size SUV built on the Outback platform, and Uncharted, a compact crossover slotting below the Trailseeker. All three share the same Subaru Motor Finance incentive structure: a $2,000 non-conditional consumer incentive plus a $4,000 dealer incentive that is at dealer discretion. That $4,000 is not guaranteed to appear in your deal. Run payment estimates at both $2,000 (worst case) and $6,000 (best case) until you confirm what the dealer is actually passing through.
The Uncharted Premium FWD at $34,995 is the entry point into Subaru EVs — the most affordable new EV in the Subaru lineup. With the full $6,000 in cash and MF 0.00083 (2.00% APR), the payment is ~$386/month. At $2,000 only, it's ~$501. The Uncharted GT AWD at $41,715 with MF 0.00054 (best rate in the EV lineup) runs ~$477 at $6K cash or ~$591 at $2K.
The Trailseeker targets Outback-level buyers who want an EV step-up. The Premium FWD at $39,995 runs ~$423/month at $6K cash (MF 0.00142) or ~$540 at $2K. The Touring AWD at $46,555 with MF 0.00101 runs ~$519 at $6K or ~$635 at $2K.
The Solterra is Subaru's Toyota bZ-cousin (they share the e-TNGA platform). In May, the Solterra runs a Subaru-specific MF (0.00098–0.00131) — not the TMC 0.00001 that Toyota uses on the bZ. The residuals are 50–53%. With $6,000 cash at 36 months, the Solterra Premium runs ~$427/month; at $2,000 only, it's ~$558/month.
| Model / Trim | MSRP | MF (36mo) | RV (36/12K) | ~Monthly ($2K cash)* | ~Monthly ($6K cash)* |
|---|---|---|---|---|---|
| Uncharted (NEW) | |||||
| Uncharted Premium FWD | $34,995 | 0.00083 | 47% | ~$501 | ~$386 |
| Uncharted GT AWD | $41,715 | 0.00054 | 47% | ~$591 | ~$477 |
| Trailseeker (NEW) | |||||
| Trailseeker Premium FWD | $39,995 | 0.00142 | 54% | ~$540 | ~$423 |
| Trailseeker Touring AWD | $46,555 | 0.00101 | 52% | ~$635 | ~$519 |
| Solterra | |||||
| Solterra Premium | ~$40,000 | 0.00131 | 53% | ~$558 | ~$427 |
*Pre-tax, 36mo/12K. Two scenarios: "$2K cash" = $2,000 non-conditional consumer incentive only; "$6K cash" = $2,000 consumer + $4,000 dealer incentive (dealer discretion — not guaranteed to consumer). Confirm dealer passthrough before assuming the $6K scenario. Data: Subaru Motor Finance NE, May 2026.
Subaru EV Verdict — Dealer Cash Is the Whole Story
The Uncharted Premium FWD at $34,995 is the lowest-MSRP new EV debut this month and competes on payment when dealers pass through the $4K. The Trailseeker and Solterra are in the same tier as Honda Prologue on payment (~$423–$437/month at full cash), but they come with lower residuals (47–54%) than the Prologue (49–50%) and slightly higher MF. The critical variable is whether your dealer actually passes through the $4,000 dealer incentive. Many will. Some won't. Get that number in writing before comparing Subaru against Kia or Honda.
BMW i4 + i5 + iX — Programs Unchanged
BMW Financial Services held programs steady in May. The i4 eDrive40 stays at MF 0.00035 (0.84% APR) with $3,750 base Lease Credit — the strongest rate in the luxury EV segment at ~$666/month on the entry trim. The xDrive40 at 55% residual comes in at ~$714/month.
The iX runs $7,500 non-conditional Lease Credit across trims. The xDrive45 at ~$88,000 is at MF 0.0008 with ~$1,066/month; the M70 at ~$107,000 gets MF 0.00045 (lower rate on a higher car) at ~$1,288/month. Rate differentiation exists, but at these price points the car cost dominates every month.
The i5 has a 2026 vs 2027 model year split you need to know about. The 2026 i5 eDrive40 holds at MF 0.00060 (1.44% APR) with $3,750 Lease Credit — entry payment ~$875/month. The 2027 i5 eDrive40 runs MF 0.0009 (2.16% APR) at the same $3,750 LC — approximately ~$47/month more expensive for a marginally newer model year. The 2027 residual holds at 52% so the only explanation is the worse rate. Stick to the 2026 i5 while inventory exists; the rate premium on the 2027 is not justified by any product change.
| Trim | MSRP | MF (36mo) | RV (36/12K) | Base Cash | ~Monthly* |
|---|---|---|---|---|---|
| i4 | |||||
| i4 eDrive40 Gran Coupe | ~$57,900 | 0.00035 | 54% | $3,750 | ~$666 |
| i4 xDrive40 Gran Coupe | ~$62,900 | 0.00035 | 55% | $3,750 | ~$714 |
| i5 | |||||
| i5 eDrive40 Sedan (2026) | ~$68,900 | 0.00060 | 52% | $3,750 | ~$875 |
| i5 eDrive40 Sedan (2027) | ~$70,000 | 0.00090 | 52% | $3,750 | ~$922 |
| iX | |||||
| iX xDrive45 | ~$88,000 | 0.00080 | 52% | $7,500 | ~$1,066 |
| iX M70 | ~$107,000 | 0.00045 | 52% | $7,500 | ~$1,288 |
*Pre-tax, 36mo/12K, base non-conditional Lease Credit only. i4 max: +$500 loyalty + $1,000 college grad. i5 (2026) max: +$1,000 loyalty + $1,000 college grad. 2027 i5 MSRP is estimate. iX max: +$1,000 loyalty + $1,000 college grad + $500 military. Stick to 2026 i5 — 2027 runs 50% higher MF for ~$47/month more. Data: BMW Financial Services NE, May 2026.
BMW EV Verdict
i4 eDrive40 at MF 0.00035 (0.84% APR) is the best rate in the luxury EV segment now that Lexus RZ lost 0% APR. With the RZ now at 0.00120, the i4 is the clear rate leader in luxury EVs. iX $7,500 cash is the right structure at that price point. On the i5: if you're in the market, the 2026 model at MF 0.00060 is the deal — don't get steered onto the 2027 at MF 0.0009 without knowing you're paying ~$47/month extra for the new model year at an inferior rate. Confirm what model year is on the lot.
Genesis eGV70 — Near-Zero Rate, No Cash
Genesis Financial runs MF 0.00018 (0.43% APR) on the 2026 eGV70 — one of the lowest rates available, second only to Toyota bZ. The tradeoff is that there is no non-conditional consumer cash. With a 50% residual on a ~$57,000 entry MSRP, the payment sits at ~$878/month — a significant number for a crossover, even with the rate. The eGV70 is a rate story, not a payment story; the car is priced to a segment where $878 is competitive for the brand, but you're paying for the car, not the money.
Genesis eGV70 Verdict
The 0.43% APR is real and meaningful — it means almost nothing goes to interest. But the 50% residual on a $57K+ car means you're financing half the car over 36 months. The payment reflects that. Worth leasing if you want the Genesis product specifically; not a payment efficiency play compared to IONIQ 9 or Niro EV.
Cadillac OPTIQ + LYRIQ — Cash Moved to 39-Month Only
May brings a structural change to Cadillac EV incentives. The $1,000 non-conditional consumer cash at 36 months is gone for both OPTIQ and LYRIQ. In May, cash incentives at 36 months are $0; the $1,000 consumer cash is only available on the 39-month term. If you're building a 36-month deal, the OPTIQ runs at full MSRP cap cost.
The OPTIQ Luxury at 36/12K runs MF 0.00112 (2.69% APR) with 61% residual. At a ~$52,000 MSRP with no cash, the payment is approximately ~$640/month. LYRIQ Luxury at MF 0.00167 (4.01% APR) with 64% residual on ~$60,000 MSRP comes to ~$723/month. Both deals worsened from April — slightly higher MF on the LYRIQ, no cash on either at 36 months.
Cadillac EV Verdict
OPTIQ and LYRIQ both lost the 36-month cash incentive in May. If you want the $1,000 consumer cash, you need to sign a 39-month deal. The LYRIQ's 64% residual is the best for a midsize EV SUV — that partially offsets the higher MF and lack of cash. Worth checking the 39-month math if that term works for you; at 36 months these are no longer standout values.
Volvo EX30 + EX40 — Cash Holds, Rate Improved on EX40
Volvo Financial Services kept the $7,500 non-conditional Lease Cash on the EX40 while improving the rate from 0.00126 (3.02% APR) in April to 0.00088 (2.11% APR) in May. That rate improvement saves ~$60/month in rent charges on the EX40 entry trim, partially offset by a residual drop from 48–49% to 46–47%. Net payment on the EX40 entry runs ~$655/month — roughly flat vs April.
EX30 runs MF 0.00261 (6.26% APR) with $4,500 cash and 53–55% residual. At ~$37,000 MSRP, the payment is approximately ~$565/month. The rate is high but the residual and cash are doing meaningful work to offset it.
Volvo EV Verdict
EX40 improved on rate but gave back on residual — net payment roughly flat. $7,500 cash is the best non-conditional consumer incentive in the Volvo EV lineup and offsets the structural weakness of a 46–47% residual. EX30 at 6.26% APR is expensive money but a small MSRP and decent residual keep the payment manageable. Neither model is a standout EV lease value, but the EX40 is reasonably competitive in the $55K SUV segment.
Chevy Equinox EV — MF Tripled, $0 Consumer Cash
The Chevy Equinox EV program deteriorated significantly in May. General Motors Financial moved the MF from 0.00081 (1.94% APR) in April to 0.00271 (6.50% APR) in May — a 3.3× increase — and removed the conquest cash that previously applied to some configurations. Non-conditional consumer cash is now $0. The 60% residual is genuinely strong and provides meaningful payment support, but at 6.50% APR with zero cash, the RS trim at ~$43,500 MSRP runs approximately ~$672/month — about $100/month more than April.
The Equinox EV was a standout value in March and a reasonable deal in April. It is neither in May. Sixty percent residual is an excellent structural number — if GMF restores a competitive rate or adds consumer cash, this car bounces back immediately. For now, the payment math doesn't work.
Chevy Equinox EV Verdict — Skip for Now
MF 0.00271 with $0 consumer cash means you're financing 6.50% APR on full MSRP. The 60% residual is excellent but not enough to overcome both the rate jump and the cash removal. At ~$672/month you can lease a Honda Prologue for ~$437, a Kia EV9 for ~$495, or a Hyundai IONIQ 9 for ~$486. Come back to the Equinox EV when GMF restores the program.
Porsche Taycan, VW ID.4, Ford Mach-E + Lightning, Audi Q4 e-tron, Mercedes EQE/EQS
Porsche Taycan: MF 0.00250 (6.00% APR), $0 consumer cash, 44–52% residual by trim. At Taycan 4S MSRP (~$103,800), the base payment runs ~$1,706/month. The residuals on the Taycan 4 (52%) are genuinely strong for a vehicle at this price point — if you want a Taycan, the lease math makes sense purely from a residual perspective. But there's no captive subsidy here. Unchanged from April.
VW ID.4: Rate went from 0.00025 (0.60% APR) in April to 0.00313 (7.51% APR) in May — a major rate jump. Compensating: $6,000 in non-conditional Lease Cash (was $0 in April). At ~$44,000 MSRP, the entry ID.4 Standard with $6,000 cash and 45% residual runs approximately ~$607/month. The net payment is actually slightly better than April's ~$645 despite the rate explosion, because $6,000 in cash offsets the rent charges. Worth considering if you can get the base ID.4; the rate is ugly but the cash is doing its job.
Ford Mustang Mach-E: Unchanged at MF 0.00189 (4.54% APR) with $2,000 cash. Entry GT at ~$44,000 MSRP with 52% residual runs ~$646/month. No improvement from April.
Ford F-150 Lightning: Ford Motor Credit runs MF 0.00308 (7.39% APR) across every trim with zero consumer cash and 47–49% residuals. The entry STX at $54,995 runs ~$849/month. The Lariat at $67,995 runs ~$1,326/month. The Platinum at $82,995 runs ~$1,641/month. For context, Ford's own Mach-E leases at 4.54% APR with $2,000 cash. The F-150 Lightning is a finance vehicle in May 2026 — the lease math does not work at this rate and residual combination.
Audi Q4 e-tron: Unchanged at MF 0.00293 (7.03% APR) with $3,000 cash and 50% residual. The Q4 entry at ~$49,000 MSRP runs ~$820/month. This is expensive money on an expensive car — one of the worst rates on any EV this month. Skip.
Mercedes EQE / EQS: MBFS holds the EQS Sedan at MF 0.00082 (1.97% APR) — one of the better rates in the luxury EV segment. But 44–48% residuals mean you're paying down most of the car regardless. $0 non-conditional consumer cash across EQE and EQS trims ($3,500 exists as dealer-directed cash, not a consumer incentive). EQS Sedan at ~$104,000 with 48% residual runs ~$1,340/month after dealer-directed cash is excluded. The EQE runs higher rates (up to 5.57% APR) with worse residuals. Skip both unless you specifically want the brand.
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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.
- Subaru payments show two scenarios: $2,000 consumer incentive only, and $2,000 + $4,000 dealer incentive (full $6,000). The $4,000 dealer incentive is not guaranteed to pass through to the consumer; confirm before signing.
- Data is from captive lender Northeast rate sheets dated May 14, 2026. Programs are set monthly; verify current rates with the captive lender or a dealer before signing.