Evan Ullman for The General

Why more Americans are leasing EVs in 2025

Leasing has taken the lead in how Americans are choosing to drive electric. According to Experian’s Q4 2024 State of the Automotive Finance Market Report, more than half of new electric vehicle transactions in early 2024 were leases , a big shift from past years, when most buyers either paid in cash or financed their vehicles with traditional loans. So what’s behind this trend?

The General digs into the key drivers: tax incentives, upfront cost differences, and policy uncertainty. These factors are reshaping how consumers approach EV ownership and could continue to do so well into 2025.

Rethinking ownership: How EVs are shifting the car financing equation

For decades, most Americans bought cars the traditional w

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