A new electric vehicle costs on average more than a gas-powered vehicle, but there are still affordable sub-$30K EVs out there. A few models have starting prices below $30,000, and a couple of others dip below $30,000 when you factor a $7,500 federal tax credit that is available for certain models. As you'll see below, some of the EVs on this list qualify for the tax credit whether you purchase or lease it. But some only qualify for the credit if you lease it thanks to a clause that allows the manufacturer to receive the tax credit when an EV is leased, giving the automaker the option of passing the savings to the lessee.
However, if you lease an EV, the tax credit is applied to the sales price, not to the federal taxes owed at the end of the year as it is with the purchase of an EV. And if a new EV is out of your budget, certain used EVs now qualify for a federal tax credit of up to $4,000. To help you find an affordable new EV, Edmunds rounds up the five models you can purchase or lease for under $30,000. Starting prices include the destination fee.