With a wave of electric vehicle (EV) leases ending in 2025, many consumers will face choices influenced by significant trends in the EV market. The rise in competitive lease programs has made EV payments more accessible than for conventional gas vehicles. As leases approach expiration, planning becomes essential—starting three to four months in advance is advisable. The concept of residual value plays a pivotal role here, with declining resale values complicating decisions on whether to lease again, buy out the vehicle, or explore other options.
The past few years have seen record electric vehicle sales driven by competitive lease programs, making EV payments often less than gas-powered car payments.
When your EV lease ends, it's crucial to plan ahead, ideally starting around three to four months before the lease is up.
A significant factor in lease management is residual value, which affects final costs and options for lessees as EV values have been dropping.
EV owners facing declining values may consider options such as turning in the car to lease something new, or purchasing it.
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