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We recently shared five affordable electric cars to buy in 2022. “Affordable” only goes so far in today’s auto market, and not a single top pick lists for under $35,000. With battery and charging advancements around every corner, leasing is a great way to keep up with the pace of technology without having to purchase a new car. All things considered, these are the 5 best electric cars to lease in 2022.
Hyundai Kona EV
The often overlooked Hyundai Kona EV was the Korean automaker’s electric flagship years before the fancy new IONIQ 5 stole the show. When it comes down to numbers, the Kona EV is a great value. We featured it in our recent CarEdge list of the best affordable electric cars.
This front-wheel drive subcompact crossover gets 258 miles on the charge, exceptional range for a budget EV. Some owners get over 275 miles on a single charge. If you plug in at home, charging to 100% from a 240-volt dryer outlet will only take you about 9 hours from 10% state of charge. That will get you a full battery overnight while you’re sleeping. At a DC fast charger, the Kona is behind the competition. In 47 minutes, the Kona Electric charges from 10% to 80% capacity. For perspective, the new Hyundai IONIQ 5 can do the same in 18 minutes, but it costs nearly twice as much.
You can lease the Hyundai Kona EV for just $259 /mo with $3,699 due at lease signing for 36 months and 10,000 miles of driving allowance per year. If this is your price range, the Chevy Bolt, Nissan Leaf, and the Kona’s cousin the e-Niro are the only other options. You can’t go wrong with the Kona at this price point.
Volvo XC40 Recharge
Volvo and sibling Polestar are ramping up their commitment to electrification. The Volvo XC40 Recharge (pure electric) has been the darling of auto reviewers time and time again. Test drivers share a common theme: the XC40 Recharge is a lot more fun to drive than they had expected.
It may look like a family car, but this electric Volvo can launch to 60 mph in just 4.7 seconds as it puts down power via dual electric motors. With 223 miles of range on a charge and up to 150 kW charging speeds at a public fast charger, the XC40 Recharge is just about average for an electric car in 2022. It IS a solid road-tripper, unlike some other options on this list.
Infotainment runs on Google’s Android Auto operating system, much like the popular Polestar 2. An upscale cabin adorned with the elegant and dark-themed interior we’ve come to expect from Volvo features plenty of hidden storage and generous room in the back seat. This electric crossover feels a lot larger than it really is.
Leasing the XC40 Recharge is available for $540 a month with $3,500 down, and 10,000 miles of annual driving allowance. If you’re looking for a peppy electric crossover with a Scandinavian flair, Volvo’s XC40 Recharge just might be the one.
If you’re shopping on a tight budget, don’t overlook the original posterchild of EVs, the Nissan Leaf. A few years before Tesla’s sales ballooned into EV domination, the Leaf was leading electric car sales in America. Why did it fall out of favor? It looks like an appliance, drives like an appliance, can’t make it very far on a charge, and charges slower than most of the competition. But it’s cheap!
With those complaints aside, the Nissan Leaf is still a solid choice for a lease in 2022. We can only recommend the Leaf in the extended range, faster charging versions. That would be the Plus models, which are rated for up to 226 miles on a charge, and can charge at 100 kW charging speeds at a DC fast charger equipped with the CHAdeMO adapter.
The Leaf is not recommended for frequent long-distance travelers. It’s just too much of a pain to stop so frequently and charge for a whole hour once every 180 miles. But for everyone else, the Leaf is a great electric car for around town. Plus, it still qualifies for the EV tax credit.
As of April, the 2022 Nissan Leaf is available for $179 per month for 36 months with $4,179 due at signing. It’s important to note that Nissan keeps the EV tax credit when you lease a Leaf. Regardless, that’s as cheap as it gets to lease a new EV in 2022.
2023 Fisker Ocean (It’s Worth the Wait)
At a time when the average transaction price for a new car is approaching $50,000, a sub-$40,000 electric crossover sounds too good to be true. The Fisker Ocean introduces rare value in the crowded EV segment. We recently shared an in-depth review of the Fisker Ocean.
For just $379 per month, you can lease a Fisker Ocean SUV with the new Fisker Flexee Lease offer. Fisker says that they believe electric vehicles should be affordable to all, and this is how they’re going to try to get there.
With a Fisker Flexee Lease, there are no term limits and you can cancel at any time. It’s basically a long-term rental that appears to be worry-free. After twelve years of leased driving, Fisker will retire and recycle the electric SUV. The Fisker Flexee Lease requires an initial payment of $2,999, and it includes up to 30,000 miles per year. Maintenance is covered.
The Fisker Ocean will be available in very limited quantities late this year. It won’t be until 2023 or even 2024 that a Fisker lease will be easy to come by. Nevertheless, keep it on your radar!
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When Volvo acquired Polestar in 2015, the Swedish brand was known for high-performance sports cars. A short time later, Volvo reimagined Polestar as an all-electric brand that mixes performance and luxury in a very Scandinavian fashion. Today, the Polestar 2 is one of the most sought after electric cars in America. Here’s why drivers are falling in love with Polestar’s take on affordable luxury.
Interior and Exterior Design
The Polestar 2 exudes its kinship with Volvo from every angle, yet the Polestar brand has managed to take on its own identity among EV enthusiasts. With origins in Swedish racing, Polestar is synonymous with style and performance, at least in Europe. In North America, Polestar is unknown to most, however one headline-grabbing Super Bowl commercial improved the brand’s name recognition in the US.
On the exterior, the Polestar 2 is defined by sharp angles and a slightly elevated posture. Volvo-like headlights and taillights leave no guessing as to the design language. With a ground clearance of 5.9 inches and an overall height of 59 inches, the Polestar 2 is a few inches taller than the Model 3. It’s no crossover, but it provides room to grow that many other electric sedans lack.
Behind the back seat, there’s 14.3 cubic feet of cargo space. That may not sound like a lot, but the trunk is accessible via a hatchback-like power liftgate. That’s one serious advantage over the Tesla Model 3. Up front, there’s a little frunk with 1.2 cubic feet of storage space.
Eco-Friendly Interior Meets Minimalism
The Polestar 2’s interior is carefully crafted with eco-friendly accents and fabrics. The main touch points and sight areas are a fusion of wood, fabric, and conservative use of plastic. If you’ve seen the interior of any recent Volvo model, you already have an idea of what the Polestar 2 offers. If anything, the Polestar’s interior breathes minimalism into the Volvo family. Seating is offered in sustainably-sourced cloth upholstery or leather. The performance package throws in polarizing gold seatbelts to brighten up an otherwise dark interior.
If you’re a fan of the Android operating system, Polestar has a treat for you. The digital instrument cluster is presented on a 12-inch horizontal display in front of the driver. Infotainment and climate controls are found on a centrally-located 11.3-inch touchscreen that operates on Google’s Android Automotive operating system. Google Maps is seamlessly integrated into the Polestar 2’s navigation system, and apps are displayed much as they are on any Android phone.
Polestar 2 Powertrain and Performance
Going electric comes with tradeoffs. Range is still king, at least until DC fast chargers become commonplace in America. Rarely does an electric car offer the best range AND performance on the same spec. That remains true for the Polestar 2.
If you foresee the need for maximum range, the single-motor variant is rated for 270 miles. Range comes at the expense of power. The single-motor Polestar 2 cranks out 231 horsepower, which is good for a 0-60 time of around 7 seconds. Speed enthusiasts will be inclined to go for the 408 horsepower all-wheel drive (dual-motor) option. The dual-motor Polestar 2 leaps to 60 mph in just 4.4 seconds, which is just a hair ‘slower’ than the dual-motor Model 3. The performance package drops that to 4.1 seconds.
Polestar 2 Over-the-Air Updates
You know what Tesla has that other automakers don’t? A superior charging network, a vertically-integrated platform, and seamless over-the-air (OTA) updates. Other OEMs are catching up slowly but surely. Now, Polestar can tout OTA update capability. An OTA update will increase the dual-motor Polestar 2’s horsepower from 408 to 476 HP and torque from 487 to 502 lb-ft. All that’s needed for an OTA update is a secure wireless internet connection.
Polestar 2 Range and Charging
The Polestar 2 is powered by Volvo’s electric Compact Modular Architecture (CMA). A 78.0-kWh lithium-ion battery pack (75 kWh usable) lies under the floor. The single-motor model has a range of 270 miles, and the dual-motor variant should make it 249 miles on a single charge. Real-world tests have found that highway driving cuts range considerably. Car and Driver’s 75 mpg highway test yielded just 190 miles of range. For comparison, the dual-motor Tesla Model 3 managed 310 miles at 70 mph.
Charging is not one of the Polestar 2’s strengths, at least compared to the major competitors. The powertrain supports DC fast-charging up to 150 kilowatts. That’s similar to the Ford Mustang Mach-E and Volkswagen ID.4, but slower than what you’ll get in a Model 3, IONIQ 5 or Kia EV6. Polestar claims a charge time from empty to 80 percent in 40 minutes.
Charging Incentive
Polestar is providing 2 years of free charging sessions (for 30 minutes per session) to new and existing 2021 and 2022 Polestar 2 customers. For those who travel plenty, this could add up to thousands of dollars saved. Tesla no longer offers a free charging incentive, so keep this in mind in addition to the EV tax incentive.
How Much Does the Polestar 2 Cost?
Polestar 2 pricing starts at $47,200 including the $1,300 delivery charge. Upgrading to the dual-motor Polestar 2 will tack on $4,000 for a price of $51,200. The performance pack adds performance brakes, suspension upgrades, performance tires and gold (yes, gold) seat belts for an additional $5,000. The $4,000 plus package adds a heat pump for improved cold weather range, and a long list of luxury upgrades. The $3,200 Pilot package includes upgraded driver assistance tech and better LED headlights.
A fully-loaded Polestar 2 will total up to about $70,000 before taxes. Polestar sells direct to consumers (much like Tesla), so don’t expect any negotiating or surprise dealer fees.
Does the Polestar 2 Qualify For the EV Tax Credit?
Yes! All automakers who have not yet reached the 200,000-sale milestone continue to qualify for the $7,500 EV tax credit. Tesla and General Motors electric vehicles no longer qualify, but revisions to the tax credit are under discussion in 2022. Until Polestar grows their sales numbers considerably, their electric models will continue to qualify for this incentive in the US. State incentives may provide additional ways of lowering the total cost of ownership for the Polestar 2.
What’s Next For Polestar? Polestar 3 Pricing and Specs
The Polestar 3 electric crossover SUV should arrive in the North American market in the first quarter of 2023. Volvo will make the 3 in America at Volvo’s South Carolina production plant. Polestar has not released many details about the 3, but it is expected to start around $60,000 to $70,000 considering the base MSRPs of the Tesla Model Y, BMX iX, and others.
The electric vehicle space is heating up, and Volvo’s Polestar brand is going full steam ahead. The Polestar 2 represents a compelling alternative to the best-selling Tesla Model 3. Will Swedish sophistication and sharp looks be enough to propel Polestar into the list of top EV contenders? Time will tell.
In a huge win for consumers, the FTC announced that it is sending checks to 66,355 customers who were harmed by Napleton’s junk fees and discriminatory practices. The payments total $9.8 million. The FTC says that the payouts will average $147 each. Learn more about the FTC’s Napleton payments in the official announcement.
Original story:
The FTC and the State of Illinois have announced legal action against a large, multi-state dealer group. In a press release issued by the Federal Trade Commission on April 1, both the FTC and the Illinois Attorney General alleged that Napleton dealerships (also known as North American Automotive Services) stuffed junk fees and unwanted add-ons onto vehicle purchases in particularly misleading ways. The legal complaint also cites discriminatory practices against Black customers.
According to the complaint, Napleton’s eight dealerships in Illinois, Florida, Pennsylvania, and Missouri consistently engaged in deceptive practices. The complaint alleges that the eight dealerships would force car buyers to wait through an hours-long negotiation process, only to sneak junk fees for add-on products and services into consumers’ purchase contracts.
“These junk fees were often added despite consumers specifically declining the add-ons or having confirmed prices that did not include the add-ons. In other cases, the consumers were falsely told the add-ons were free or were a requirement to purchase or finance their vehicle,” the complaint states.
A survey found that 83% of buyers from the Napleton dealerships were charged junk fees for add-ons without authorization or as a result of deception. One consumer cited in the complaint reported that the dealership added nearly $4,000 in add-on fees, but only after he’d paid a similar amount in down payment.
FTC Alleges Discrimination
The complaint also alleges that the Napleton dealerships discriminated against Black consumers in connection with financing vehicle purchases. Napleton employees had wide latitude to increase the cost of a consumer’s loan by increasing the amount paid in interest or adding add-ons to the final contract.
The FTC complaint also alleges that Black customers at the Napleton dealerships were charged approximately $190 more in interest and paid $99 more for similar add-ons than similarly situated non-Latino White customers. Dealers typically have the ability to increase (or decrease) interest rates in a sale due to captive lending, however the discriminatory practices alleged at Napleton are revealing.
Napleton Defendant Spans Four States
The Federal Trade Commission files a complaint when it has “reason to believe that the named defendants are violating or are about to violate the law and it appears to the Commission that a proceeding is in the public interest. Stipulated final orders have the force of law when approved and signed by the District Court judge.”
The defendants in the case are:
North American Automotive Services, Inc., also doing business as Ed Napleton Automotive Group (Oak Brook, Ill.)
Ed Napleton Elmhurst Imports, Inc., also doing business as Napleton’s Kia of Elmhurst/Ed Napleton Acura (Elmhurst, Ill.)
Napleton’s Arlington Heights Motors, Inc., also doing business as Arlington Heights Chrysler Dodge Jeep Ram (Arlington Heights, Ill.)
Hitko Kadric, general manager of the two Illinois-based dealerships
Napleton’s North Palm Auto Park, Inc., also doing business as Napleton’s Northlake Chrysler Dodge Jeep Ram (Lake Park, Fla.)
Napleton Enterprises, LLC, also doing business as Napleton’s South Orlando/Kissimmee Chrysler Dodge Jeep Ram (Kissimmee, Fla.)
Clermont Motors, LLC, also doing business as Napleton’s Clermont Chrysler Dodge Jeep Ram (Clermont, Fla.)
North Palm Motors, LLC, also doing business as Napleton’s Northlake Kia (North Palm Beach, Fla.)
Napleton’s Ellwood Motors, Inc., also doing business as Napleton’s Ellwood Chrysler Dodge Jeep Ram (Ellwood City, Pa.)
Napleton’s Mid Rivers Imports, Inc., also doing business as Napleton’s Mid Rivers Kia (St. Peters, Mo.)
Napleton FTC Settlement
Napleton Auto will pay $10 Million in damages and fines, a record amount for a dealership settlement.
Under the terms of the proposed settlement with the FTC and the State of Illinois, $9.95 million of the $10 million judgment will be used to provide relief to consumers, and $50,000 will be paid to the Illinois Attorney General Court Ordered and Voluntary Compliance Payment Projects Fund.
The settlement will also require Napleton to establish a fair lending program that will cap the additional interest markup they can charge consumers. The settlement also requires Napleton to charge consumers only with express, informed consent, and prohibits them from misrepresenting the cost or terms to buy, lease, or finance a car, or whether a fee or charge is optional.
CarEdge’s Take
This is why CarEdge exists, to return confident buying to the auto industry. It’s deceptive practices like what’s been alleged at Napleton that associate misery with car buying. It’s great to see one dealer group being held accountable, but how often does this happen without consequence?
Our CarEdge members share countless stories of disappointing customer service experiences, and a few positive ones too. That’s why we recently launched CarEdge Dealer Reviews. With over 750 dealer reviews and more added every day, we’re putting the power back in the hands of the consumer. Getting ready to buy? See how dealers near you have been treating customers at CarEdge Dealer Reviews. When you make a vehicle purchase, don’t forget to share your experience with others. All submissions are vetted by the CarEdge team. Together, we can transform the car buying experience.
Auto industry analysts had predicted that US auto sales would decline by 15-18% in Q1. The supply shortage worsened in March, and the prediction was for a 36% decline in sales year-over-year. Now that March has concluded, automakers have released their performance numbers, and it’s not looking good. Here’s your one-stop resource for all automaker sales numbers for Q1 2022. Several automakers, including Ford, will release Q1 sales numbers next week. Check back for updates.
Ford sales were down 17% in Q1
The first quarter of 2022 saw worsening sales for Ford. While total sales were down 17% year-over-year, March sales dropped 26%. Ford’s brand was down 17% in Q1, however Lincoln sales fell 25%. Among popular models, the Lincoln Navigator took the greatest hit with sales plummeting 56%. Lincoln’s sales have declined for 10 consecutive months.
It wasn’t all bad news for Ford. The average transaction price rose to $47,621, up 5.5% from Q1 of 2021. Inventory rose to 268,000 at the end of March, up from 199,000 one month prior.
Ford’s EV, plug-in hybrid and hybrid sales were up 38% in the first quarter. Sales of the Mustang Mach-E were up 1.8% for the quarter, with supply chain woes and inventory being the limiting factor.
Remember that Ford recently split into two new divisions: Ford Model e and Ford Blue. Ford Blue vice president Andrew Frick said that the automaker sees a lot of positivity in the latest sales report.
“Our newest products continue to turn at a record pace, as Bronco, Bronco Sport, Mustang Mach-E and Maverick had their best combined sales performance yet, with 33,398 vehicles sold,” Frick said.
Toyota sales dropped 15 percent
The chip shortage has not been kind to Toyota. In Q1 of 2022, Toyota sold 514,592 vehicles in the United States. This is the second quarterly decline in a row for Toyota. Toyota’s sales numbers show that the chip shortage got worse as Q1 pressed on, with the worst result coming from March. Toyota’s U.S. sales dropped 24 percent in March to 194,178.
Lexus sales brought down Toyota of North America’s overall performance. The Toyota brand was down 23% in March and down 15% for the first quarter. Lexus fared worse, with sales down 29% for March and off 13% for the quarter.
TrueCar says that Toyota’s new car incentives have been on the decline for some time. In Q1, the average incentive was $1,060 per vehicle, down 60% from Q1 of last year.
Toyota’s new car inventory sits at 120,479, which translates to a 17-day supply. March was Toyota’s eighth consecutive month of sales declines.
Nissan sales are down 30 percent
In 2021, Nissan’s U.S. sales were down 8.7% as the chip shortage worsened. Today’s Q1 2022 sales numbers show that Nissan has given up a lot of momentum. Nissan’s Q1 2022 sales were 201,081 vehicles, down 30% versus a year earlier. Between the two brands, Nissan sales dropped 29%, and Infiniti sales plummeted 41% compared to one year prior.
AutoForecast Solutions says that in North America alone, Nissan lost roughly 228,000 vehicles from production schedules in 2021 because of the chip shortage.
Nissan of North America executive Judy Wheeler told automotive news that they had underestimated the magnitude of the supply shortage in 2022. “Production will continue to get better, but I don’t think it’s going to get back to normal, frankly, until 2023,” Wheeler said. “It’s going to take longer than what we originally expected.”
Hyundai fares better and takes market share
Hyundai of North America’s U.S. sales look wonderful compared to the competition. In Q1 of 2022, Hyundai’s total U.S. sales were down 4% from a year prior. Hyundai delivered 159,676 vehicles to American consumers between January and the end of March.
Hyundai is proud of their March sales performance, with good numbers all around. According to today’s quarterly sales report, Hyundai sold 59,380 vehicles in March, resulting in the third best March retail month ever for Hyundai. Month-over-month total sales were up 13%. Hyundai electrified vehicle retail sales grew 179% year over year.
Genesis sales climbed 53 percent in March compared to March of 2021.
Kia sales are down, but EVs see strong growth
In March, Kia delivered 59,524 new vehicles in the U.S., which is a 10.5% decrease year-over-year. For Q1, Kia sold 151,194 vehicles, which is a 5.2% decline compared to Q1 of 2021. Electrified car sales grew 55% year-over-year and reached a record level in March.
General Motors sees large declines across brands
Overall, GM’s sales were down 20% in the first quarter of 2022. GM reports that 509,108 vehicles were sold in the first three months of the year. GM’s brands all posted declines in Q1. Chevrolet declined 20%, GMC declined 7.5%, Buick was down 58%, and Cadillac sales were down 24% year-over-year. The average transaction price at GM was $50,717 in the first quarter, down 2% since Q4 2021, but up 18% year-over-year.
Toyota surpassed General Motors in total U.S. sales by just 5,484 vehicles.
Stellantis sales down 14 percent
Stellantis (which includes Jeep, Chrysler, Dodge, Ram, Fiat, Maserati, Alfa Romeo and several European brands) sold 405,221 vehicles in the first quarter of 2022. Overall, total U.S. sales for the first quarter declined 14%.
All of Stellantis’ brands declined year-over-year.
Jeep’s sales dropped 2%
Ram was down 15%
Chrysler fell 27%
Dodge dropped 36%
Alfa Romeo decreased 29%
Jeep says that the Jeep Wrangler 4xe is now the best-selling plug-in vehicle in the U.S. Almost one out of every five Wranglers sold last quarter were plug-in hybrids.
Honda sales are down 23%
In the United States, Honda’s total sales were down 23% in the first quarter YoY. American sales settled at 266,418 vehicles in Q1. Honda and Acura’s car and truck sales were down between 20% and 27% compared to last year. On the bright side, American Honda says that March was their best overall sales month since August of 2021.
Subaru sales dropped significantly in Q1
In March, Subaru sales were down 34% YoY, and Q1 sales slid 18% versus a year earlier. Subaru sold 132,346 vehicles in the first quarter. In a press release, Subaru cited the severity of the supply and chip shortage for the dismal sales numbers. Year-to-date sales of the popular Subaru Forester are down -34.3% YoY, and the Outback was down 20.6%. Sales of the Crosstrek, BRZ and Ascent were all up last quarter.
Incentives continue to disappear, and transaction prices keep rising
Analysts at J.D. Power and LMC say that auto incentives are set to reach an all-time low of $1,044 in March, a 69% drop year-over-year. Across all brands, the average transaction price in the first quarter is expected to be $44,129, an 18% increase from Q1 of 2021.
CarEdge’s Take
It’s not looking good for automakers. The demand is certainly there, but the ongoing supply shortage just keeps dragging on. The war in Ukraine and even an earthquake have added insult to injury for automakers in 2022. It appears that several automakers are beginning to recognize the reality we live in – sales are likely to remain suppressed until 2023. It’s more important than ever to play it smart when buying a car. Be sure to join the CarEdge Community, where auto experts help you make smart decisions to save time, hassle, and money.
Buying from a dealership can be a stressful, painful experience in 2023. If you’re on the hunt for a good deal, chances are you have experienced this frustration firsthand.
What if there was a way to rate and review car dealers so that buyers can cut through the clutter (and rip-offs) and reward honest, fair dealers with their business? The CarEdge team saw the need for a one-stop shop for dealer reviews, so we made it a reality. We’re thrilled to introduce CarEdge Dealer Reviews.
CarEdge Dealer Reviews Uses Crowdsourcing to Empower Car Buyers
With thousands of dealer and deal reviews and counting, consumers are eager to have their voices heard, and even more determined to help others navigate today’s hectic car buying process.
When submitting your own dealer rating, CarEdge’s Dealer Reviews will ask basic questions about the vehicle you’ve purchased. In addition to sharing the make and model of your new auto, you can tell the world if the dealer is charging above MSRP, requiring dealer add-ons, and simply treating customers with respect and good business practices.
With your contributions, we hope that CarEdge Dealer Reviews will help car buyers feel in control of their next vehicle purchase.
Dealer Ratings Are Vetted by the CarEdge Team
At CarEdge, we value honesty and transparency. There’s no room for ‘sponsored reviews’ or hidden agendas, we all know there’s an abundance of misleading advertising already out there. That’s why CarEdge fully vets every dealer review that is submitted. Thank you for putting your trust in CarEdge’s consumer advocates.
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