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CarsDirect has compiled a list of the best Memorial Day EV deals of 2024, featuring notable savings on electric vehicles from Tesla, Kia, Ford, and Mercedes.
Mercedes EQB
Mercedes unveiled new lease deals for the all-electric EQB crossover on May 17, just in time for Memorial Day weekend. This special deal is only valid for the 2023 Mercedes EQB 300 and EQB 350 models. CarsDirect discovered that the EQB 300 has a lease price nearly comparable to the EQB 250+ despite a $4,000 difference in MSRPs.
The EQB 300 is offered for $499 monthly on a 36-month lease, with a signing fee of $5,663. The EQB 250+ is also priced at $499 monthly, with a signing fee of $5,313. That makes the EQB 300's effective monthly cost only $9 higher than the EQB 250+ ($656 versus $647), making it a very tempting upgrade option. This sale lasts until May 31.
Tesla Model Y
Electrek revealed earlier this month that Tesla provides 0.99% financing for 72 months on the 2024 Model Y until May 31. This is a significant reduction in interest rates from the previous 6.49%, effectively cutting the cost of a Model Y purchase by $8,000. CarsDirect stated in May that the $7,500 federal tax credit can reduce the Model Y's price by $9,000 compared to the Model 3.
Kia EV9
Kia reduced EV9 lease pricing by up to $80 per month on May 1. In most parts of the United States, the 2024 Kia EV9 Light Long Range can now be leased for $419 per month for 24 months, with an initial payment of $4,999. This is the finest EV9 lease deal to date, with an interest rate close to 0% APR.
On May 10, Kia started providing a $1,500 "VIN Sticker Bonus" on specially labeled EV9s. When combined with a loyalty discount, CarsDirect discovered up to $12,000 in discounts on various EV9 variants, but it warns that results may vary, so shop around.
If you wish to buy an EV9, you may choose between 0% APR for 48 months and $7,500 in Customer Cash. Unfortunately, Kia would not allow those incentives to be stacked, so choosing what works best is a personal preference.
Ford F-150 Lightning
On May 8, Ford made its 2023 F-150 Lightning available for 0% financing for the first time. This EV deal, which runs from Memorial Day to July 8, offers $0 interest on loans of up to 60 months, a significant reduction from the previous rate of 3.9% APR.
Ford no longer provides thousands of dollars in retail bonus cash for most lightning trims. However, the Lightning's $7,500 federal tax credit remains intact. The lease prices are currently unchanged.
