Why EV Leases in NJ Can Be Surprisingly Affordable
Leasing an EV in New Jersey stacks two major incentives that do not apply to purchases: the federal commercial clean vehicle credit and the Charge Up NJ rebate. When both are passed through as cap cost reductions, it is possible to drive a new EV for under $400 per month without putting a large amount down.
The Chevrolet Equinox EV
The Equinox EV has been one of the most competitive lease deals in the segment in 2026. GM passes the full federal lease credit to customers, and the Equinox EV qualifies for the Charge Up NJ rebate of up to $4,000. Starting MSRP under $35,000 makes this one of the most accessible EV leases available in NJ.
The Hyundai Ioniq 6
Hyundai has consistently offered strong lease support on the Ioniq 6, passing through the federal commercial credit and offering manufacturer subvented money factors. Combine that with the Charge Up NJ rebate and you have one of the lowest effective monthly costs in its class.
The Honda Prologue
Built on the GM Ultium platform, the Prologue benefits from the same federal lease credit pass-through as GM vehicles. Honda's lease support has made it a standout value, especially for buyers who want a familiar brand with an SUV form factor.
Tips for Getting Under $400 per Month
To hit the lowest monthly payment, negotiate the cap cost down from MSRP before any incentives are applied. Apply the Charge Up NJ rebate as a cap cost reduction rather than a check at delivery. Avoid rolling extra fees into the lease. A 36-month term typically provides the lowest monthly payment compared to 24 months.
Want to see what today's EV lease numbers look like for your situation? Get a quick quote from Vantage and we will walk you through available inventory and current offers.
Not sure which lease terms to focus on? Read our guide on how EV leases work in NJ before you shop.
