If one were to compile a list of the best electric crossovers, there is a solid chance the Toyota bZ4X might not be on that list. Frankly, at $44,420, the bZ4X doesn't do much— or anything— to stand out from the crowd. Its 201 horsepower, 252 miles of range, and slower fast-charging than many rivals make it a tough sell. It could be much more compelling if its price reflected its abilities. The good news is that Toyota has significantly dropped its leasing prices on this electric crossover, so much so that it might make hesitant buyers reconsider.
These lease deals depend on purchasing location, with some locales being considerably more affordable than others. For instance, buyers in the San Francisco Bay Area can find 2023 bZ4X XLEs for as low as $129 per month for 36 months, with $1,999 due at signing. This comes out to just $6,643 for three years.
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Lease deals on EVs are extremely aggressive
Not every EV qualifies for the full $7,500 tax credit upon purchase. But every EV does when leased, so automakers, including Toyota now, are offering aggressive lease deals to get people to take one home. In many cases, it guarantees a much lower payment than a purchase.
In the same region, a 2024 Toyota RAV4 LE runs $369 per month for 36 months, with $2,999 due at signing. While the RAV4 LE is one model year older but not as well-equipped as the bZ4X XLE. Nevertheless, leasing the RAV4 LE for three years will sum to $16,283.
In other words, one can secure two bZ4X XLEs and still have leftover money to spend for the lease price of one RAV4 LE. Would there be a need for a household to have two bZ4Xs? Probably not, but it's financially viable.
San Francisco Lease Deals
2023 Toyota bZ4X XLE
- Lease: $129 per month for 36 months with $1,999 due at signing
- Total Price: $6,643 for 36 months
2024 Toyota bZ4X XLE
- Lease: $169 per month for 36 months with $1,999 due at signing
- Total Price: $8,083 for 36 months
Pennsylvania and Washington D.C. Lease Deals
2023 Toyota bZ4X XLE
- Lease: $189 per month for 36 months with $0 due at signing
- Total Price: $6,804 for 36 months
2024 Toyota bZ4X XLE
- Lease: $219 per month for 36 months with $0 due at signing
- Total Price: $7,884 for 36 months
Los Angeles Lease Deals
2023 Toyota bZ4X XLE
- Lease: $139 per month for 36 months with $1,999 due at signing
- Total Price: $7,003 for 36 months
2024 Toyota bZ4X XLE
- Lease: $179 per month for 36 months with $1,999 due at signing
- Total Price: $8,443 for 36 months
New York and New Jersey Lease Deals
2024 Toyota bZ4X XLE
- Lease: $119 per month for 36 months with $3,999 due at signing
- Total Price: $8,283 for 36 months
Vermont and Massachusetts Lease Deals
2024 Toyota bZ4X XLE
- Lease: $199 per month for 36 months with $1,999 due at signing
- Total Price: $9,163 for 36 months
Washington State and Oregon Lease Deals
2024 Toyota bZ4X XLE
- Lease: $199 per month for 36 months with $2,499 due at signing
- Total Price: $9,663 for 36 months
While some of these regional offers are incredibly alluring, not all areas see these intriguing rates. In fact, the nationwide offer is $399 monthly, with $3,698 due before leaving the dealership. For 36 months, that'll cost you $18,062, a steep price for a not-so-great car.
Hyundai, on the other hand, will lease you the far more compelling Ioniq 5 SEL for $229 a month for 24 months with $3,499 due at signing. If the monthly rate were the same for a 36-month lease, the Ioniq 5 would run $11,743, a significantly more reasonable price.
Nationwide Lease Deal
2024 Toyota bZ4X XLE
- Lease: $399 per month for 36 months with $3,698 due at signing
- Total Price: $18,262 for 36 months
Competitive Nationwide Offer
2024 Hyundai Ioniq 5
- Lease: $229 per month for 36 months with $3,698 due at signing
- Total Price: $11,743 for 36 months
The 2023 and 2024 Toyota bZ4X come in two trims, XLE and Limited, each with two powertrain options. The entry-level version is the $44,420 XLE, which has a healthy array of features, such as LED headlights, a power liftgate, a somewhat compromised panoramic glass roof, and Toyota SafetySense 3.0.
In FWD guise, the bZ4X makes 201 horsepower and can travel 252 miles on a single charge. With dual motors, power is slightly boosted to 214 horsepower, but range is reduced to 228 miles. DC fast charging speeds are capped at 150 kilowatts—and the actual charging curve looks far worse—and AC speeds only reach 6.6 kilowatts.
The pricier $48,530 Limited model features ventilated front seats, 20-inch wheels, and Homelink, among others. Despite the near-$50,000 tag, the 9-speaker JBL premium audio system runs $930 as part of a package that includes heated rear seats. Nevertheless, the larger wheels negatively impact the Limited's range. The front-wheel drive model can travel 236 miles on a single charge, and the all-wheel drive can go 222 miles.
When pitted against the $45,630 Tesla Model Y, which goes for $38,130 with the federal EV incentive, the bZ4X is not an attractive value proposition. However, with these regional deals, the bZ4X becomes incredibly tempting. At $129 a month with $1,999 due at signing, some of the bZ4X's past sins have been forgiven.
And above all else, it's certainly welcome news for rideshare drivers.
Contact the author: andrew.lambrecht@insideevs.com
