Independence Day EV deals are here, but are they any good? These 5 electric car deals offer serious savings.

If you’re in the market for an affordable electric car this July, we’ve got good news: Independence Day EV deals are here in a big way. With high inventory, stagnant sales, and 2025 models incoming, EV shoppers have negotiation leverage like never before. Or, you can let us do the haggling for you. 

This Fourth of July, an abundance of low APR specials and lease offers bring the cost of getting into an EV down by thousands of dollars. As we approach Independence Day 2024, these are the 5 best EV deals on the market. 

Top 5 Fourth of July EV Deals

2024 Tesla Model Y 

With new paint options to choose from (Quicksilver and Ultra Red), refreshed aero wheels, and eligibility for the federal EV tax credit, there’s a lot to love about the Tesla Model Y this summer. If you can get used to the minimalist interior, the Tesla Supercharger network simplifies EV ownership in a huge way. 

The Best Deal

Model Y prices have fallen to their lowest ever, now starting at $44,990 before destination for the Rear-Wheel Drive version. With destination fees, you’re looking at $46,630 before taxes.

Although Tesla is no longer offering an APR special, the Model Y has many features that the competitors on this list lack. Considering there was a time when the Model Y’s price started north of $65,000, the price cuts alone are worthy of recognition this July 4th.

Lease Offer: Lease the Tesla Model Y for $449/month for 36 months with $2,999 due

Negotiability Score: Tesla prices are non-negotiable

Starting Price: $46,630 (Rear-Wheel Drive), $49,630 (Long Range All-Wheel Drive)

See Tesla ordering wait times at Tesla.com

2024 Kia EV9

The Kia EV9 is winning awards, but this 3-row EV remains a slow-seller. Fans of the EV9 can use today’s oversupply to negotiate a great deal. Note that although Kia recently announced the start of US production for the EV9, it’s likely that these VINs haven’t made it to dealerships yet. Once American-made EV9s are on the lot, it’s likely that the generous cash offer below will dry up, since the EV9 is expected to qualify for the federal EV tax credit.

The Best Deal

• 0% APR for 48 months + up to $9,000 cash discount. See offer details.

Lease Offer: Lease the 2024 EV9 Light Long Range RWD for $399/month for 24 months with $3,959 due

Current Inventory (Market-Day Supply): 67 days – Trending down as dealers await US-built EV9s

Negotiability Score: Average

Total For Sale (US nationwide): 4,050

Average Selling Price: $68,661

See Kia EV9 listings with the power of local market data

2023 Nissan Ariya

There are still 650 new 2023 Ariya EVs on the market heading into July of 2024. Generally, most reviewers and owners are fans of Nissan’s follow-up to the LEAF, with the main complaints being about the high price for ‘what you get’. It’s not the fastest charging EV on the market, but for those who stick around town most of the time, this could be the Fourth of July EV deal for you.

The Best Deal

• 0% APR for 72 months + $3,000 cash savings

Lease Offer: Lease the 2023 Nissan Ariya for as low as $99/month for 18 months with $4,089 due. See offer details.

Current Inventory (Market-Day Supply): 80 days – Falling

Negotiability Score: Very High for remaining 2023 models

Total For Sale (US nationwide): 4,362

Average Selling Price: $52,012

See Nissan Ariya listings with the power of local market data

2024 BMW i4

By percentage of total sales, BMW is the leader in electric sales among legacy automakers. At times, nearly 30% of BMW’s US sales have been EVs like the popular i4 electric sedan. This lease deal is out of this world for a luxury car like this.

The Best Deal

• Lease the 2024 BMW i4 eDRIVE35 for just $449/month for 36 months with $4,869 due. See offer details.

Current Inventory (Market-Day Supply): 115 days – Trending higher

Negotiability Score: Above Average

Total For Sale (US nationwide): 8,129

Average Selling Price: $64,640

See BMW i4 listings with the power of local market data

2024 Hyundai IONIQ 5

The IONIQ 5 is widely seen as the top competitor to the best-selling electric crossover, the Tesla Model Y. With fast charging times, long range, and unique looks, it’s currently the best-selling EV outside of Tesla. This month, Hyundai is offering an unbeatable lease deal.

The Best Deal

• Lease the 2024 Hyundai IONIQ 5 SEL for $179/month for 36 months with $4,679 due. See offer details.

Current Inventory (Market-Day Supply): 119 days – Holding steady

Negotiability Score: Average

Total For Sale (US nationwide): 14,251

Average Selling Price: $48,904

See Hyundai IONIQ 5 listings with the power of local market data

Runner Up: Subaru Solterra

Subaru’s first EV was born in a partnership with Toyota. The brand recognition has not been enough to kickstart sales. With sluggish sales and even slower charging speeds, Subaru is offering zero percent financing for up to 72 months. With EV depreciation insanely high, this lease offer is a decent option. 

The Best Deal

• 0% APR for up to 72 months

Lease offers: Lease the 2023 or 2024 Solterra for $329/month with just $329 due at signing. See offer details.

Current Inventory (Market-Day Supply): 95 days – Holding steady

Negotiability Score: Average

Total For Sale (US nationwide): 3,503

Average Selling Price: $47,560

See Subaru Solterra listings with the power of local market data

Not Ready to Buy? More Deals to Come

If you’re in the market for a new electric vehicle, Fourth of July weekend is an excellent opportunity to lock in big discounts and amazing financing terms. 

However, while these deals provide a strong incentive to purchase, patient EV shoppers can look towards the overall BEST time of the year to buy a car: year-end sales. While Fourth of July deals are attractive, similar EV offers will likely return come November and December.

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