The 2021 Kia Niro EV Is a Killer Deal on Lease

Kia’s Niro EV is an enticing offer in the sub-$50,000 EV market. It offers decent size, cargo capacity, and range from a band that has been on a roll lately. As charging infrastructure increases, the downsides of EV ownership are shrinking. Additionally, the insane used auto market trend has many buyers looking for a way around the surge in pricing. Thankfully, this attractive Kia lease deal is here to help.

Leasing can help circumvent the crazy used market

A Kia Niro EV at a press launch with a large image of the car on a screen in the background.
The Kia Niro EV | SeongJoon Cho via Getty Images

It’s no secret the used auto market is an absolute mess right now. Recent semiconductor shortages have hit manufacturers like Kia hard. The lack of semiconductors has made it hard to produce new, fresh off the assembly line vehicles. This means that dealers are looking to move the inventory they can as quickly as they can to turn a profit.

That’s where this lease deal comes in. According to Cars Direct, the Kia Niro is one such new vehicle dealers are looking to move off the lot quickly. However, buyer beware, as the deal isn’t a national promotion. These lease incentives are only available in some states. Thankfully, the states offering the deals are spread wide enough that a short trip out of state is always an option.

The Kia Niro is a great lease deal

A blue Niro EV photographed in the shadows
The Niro EV | SeongJoon Cho via Getty Images

Now that the lede has been sufficiently buried, it’s time to talk about this lease deal. First and foremost, a down payment of $3,500 will be required. Not horrible as down payments go. The other potential snag is the lease term: 36 months, which may be a little short for some. This term appears to be a qualifier for the deal, which takes pricing down to a lowly $209 a month if properly qualified.

That’s a pretty solid deal from Kia, a manufacturer who has gone from strength to strength lately. What’s more, the Niro EV significantly undercuts much of the market for a very similar vehicle. A lease on a new VW ID.4 will run you almost double, at $409 a month. It’s roughly the same money for the quicker-than-necessary Toyota RAV4 Prime. The undercutting of the market is what makes this deal so sweet, but is it a good idea to get into a lease right now?

Is leasing a good idea?

The interior of the Niro EV
2021 Niro EV | Kia

Truth is, the answer varies. Due to the pandemic, some Americans made more money over the last year and change than they ever have. In contrast, some had the worst year and change of their lives. It’s important to understand one’s financial circumstances before hopping into a lease like this. Depreciation must be considered, and the used EV market is still somewhat of an unknown when it comes to resale values. However, should a lease make financial sense for you, the Kia Niro EV is a strong option, especially if you’re looking to save a few bucks at the dealership.

RELATED: The 2021 Kia K5 Review Just Killed the 2021 Genesis G80 Review on Consumer Reports