April 13, 2024

We recently shared that Hyundai is leasing its Ioniq 6 EV for as little as $239 per month with $0 down, making it the cheapest lease deal in the U.S., but this Kona deal is almost as sweet. Hyundai is leasing base models of the new Kona Electric for as little as $169 per month for 24 months with $1,999 due at signing, which equates to a total monthly cost of just $252. This promotional rate is nearly $80 cheaper each month than the Kona EV’s normal 36-month lease deal.

The Kona Electric SE produces 133 horsepower and 188 pound-feet of torque, and its 48.6-kWh battery provides an EPA range of 200 miles. For $10 more per month than the SE lease, Hyundai will lease you a Kona Electric SEL that produces more exciting numbers like 201 hp and 188 lb-ft of torque, and has a bigger 64.8-kWh battery that’s rated for a maximum range of 261 miles. Aside from boosts in power and range, the SEL comes with more standard features like heated front seats, a power adjustable driver’s seat, and a leather-wrapped steering wheel. For a total monthly payment of $262, that’s a lot of car for a small amount of money; I guess it’s a leaser’s market right now. Cars Direct reports,

How is Hyundai able to offer such affordable 24-month deals? According to our analysis, the residual values of both the SE and SEL Kona Electric trims are over 10% higher for the 24-month deals than their 36-month counterparts. That’s not uncommon since the vehicle has less time to depreciate, but this discrepancy is on the larger side. Fortunately for the consumer, the higher residual values correspond to a lower lease rate, bringing down the monthly payment.

A rear 3/4 shot of a highlighter yellow Kona Electric driving in the desert

Photo: Hyundai

When most car prices are rising to eye-watering heights, Hyundai is offering multiple super affordable lease deals on some of its most desirable cars. Both of these Kona Electric lease deals are advertised nationwide, and they’re only available until April 1, so all you savvy shoppers had better act fast and snag up this unreal deal.

Unfortunately, as I mentioned in the Ioniq 6 lease deal story, insurance costs are also rising drastically as of late. Rates jumped up 19 percent between August 2022 and August 2023, and this unprecedented leap in prices continues to rise. When budgeting for a new car, make sure you shop around and find the best insurance coverage for the best price, and factor that monthly cost into your budget. If you can find affordable insurance coverage for one of these great lease deals, you may end up spending very little and looking a lot richer than you really are, and who doesn’t love that?

The interior of the highlighter yellow Kona Electric

Photo: Hyundai

A version of this article originally appeared on Jalopnik.

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