EV Life’s Post

A huge thanks to Auto Finance News for inviting me to speak about EV leasing at #AFS24! ⚡🎤 My key takeaways: 1) EV lease penetration grew 4x this year (10% to 40%) because of a) the #InflationReductionAct loophole allowing a $7500 credit to be passed through leases and b) some consumers seeing leasing as lower risk to trying out EV technology. 2) Leasing is a great low cost way for many Americans to have a first experience with EVs. And becoming an EV driver is contagious - most folks don't go back to gas - so leasing should accelerate EV virality. 3) Beyond federal EV tax credits, undervalued state & local EV Incentives can play a huge role in making EV leases and purchases more affordable. My startup EV Life has 500+ EV credits, rebates, and incentives across federal, state, and local levels on our platform. Consumers and dealers should leverage technology like ours to maximize their savings. 4) While EV Life offers EV loans (not leases), we're excited about leasing has driven a 69% YoY growth of the Used EV market. When Hertz put 25,000 used EVs on the market in January, consumer excitement catalyzed on getting a Tesla for less than $25,000 + take another $4,000 used EV tax credit off at the dealership. 5) Have we reached 'peak EV leasing?' I believe the answer is Yes. With automakers like Hyundai and Kia (the 2nd largest EV seller behind Tesla), and other automakers poised to regain $7500 consumer tax credits in 2025 because they're onshoring manufacturing for the #InflationReductionAct, I believe more consumers will shift back to financing (not leasing) EVs going forward. 6) For now, leasing will continue driving a boom in Used EV sales. EV Life has seen Used EVs making up >50% of EVs financed on our lending platform in a given month. Hundreds of thousands of EVs soon coming off lease will drive exponential growth in the Used EV market! A huge note of thanks to Ash Savage at Auto Finance News for facilitating and my co-panelists: - Chris Bresnahan, Executive Director, Subaru of America Motors Finance at JPMorganChase Auto - John Possumato, Founder & CEO at Driveitaway -- Finally, what are your thoughts on the future of #EV leasing and financing? Share your thoughts the comments below. 👇

Affordability challenges are prompting an uptick in leasing and financing of older vehicles as consumers look to lower their monthly payments. #autofinance #autoindustry #lease https://hubs.la/Q02nNZyP0

EV leasing is making a roaring comeback: The share of EV leases has risen a mind-blowing 142% YoY. Still below its 2020 peak but back on par with pre-pandemic levels. Why? Incentives. Incentives. Incentives. From federal tax credits to subsidized loan rates... leasing an EV is one of the cheapest ways to get into a new car today. (Data source: Edmunds / Bloomberg)

Here is why you shouldn’t ignore leasing options. Follow for more insights from nearly 20 years of experience in the auto industry.

Fueling Change, Igniting Freedom: Together on the Road #LeaseWithCBC #NewRide #FreedomOnWheels #CBC #CBCFinance #cbcfinancelimited #leasing #carlease #buycar #DreamCar #Lowest #vehicleloan #teamCBCF #financialplanning #financialfreedom #Motordraft

🚗✨ Negative Equity? Leasing Might Be Your Best Move! ✨🚗 We recently faced a tough decision—our car had $5,500 in negative equity and was due for major maintenance. 😬 Instead of sticking with it, we traded it in for an Ioniq 5, and the lease incentives were incredible! 💰 Even with the negative equity rolled into the deal, we’re paying just $100 more per month than before. And the best part? We’re set to save BIG on gas ⛽️ and maintenance 🔧—the savings will add up 10-fold! If you have negative equity or a vehicle that’s becoming too costly to maintain, leasing might be a smart solution for you too! Check out the video where I explain more about why leasing can be a great option.

Is it better to lease a car for 2, 3 or 4 Years? In our article, we delve into the factors influencing this sometimes confusing topic. Explore more about this in our article. ⬇️ https://lnkd.in/e_9KXpuY #Carleasing #Carnews #leasinguk #finances #leaseoptions

Our topic of the month is buying vs. leasing a vehicle. If you are getting ready to move on a new vehicle, be ready to face the reality of declining trade-in values. https://lnkd.in/g4gH-grE

The car of your dreams is at your fingertips, but how's best to fund it? Leasing is a lesser-known but increasingly popular option for those looking to finance a car conveniently and predictably. Plus, you'll often benefit from lower monthly payments. But how does leasing compare to PCP: the UK's most popular car financing method? Read here: https://lnkd.in/ek5RdepT #carleasing #pcp #carfinance #newcar

Looking for a reliable car around $15,000? Think again! In this economy, surprise costs might catch you off guard! Consider all your options, including leasing! Get the best value for your money! #RonnieHaskins #CarShopping #CarTips #Economy #Leasing #SaveMoney