If you’ve been eyeing a used Hyundai Palisade for your next family hauler, you might want to pause and look at what’s happening in the new EV market right now. Automakers are slashing prices on their most popular electric vehicles by up to $10,000 this March, and the savings are changing the math on what you can actually afford. Whether you stick with a pre-owned SUV or jump into electric, 2026 is turning into a buyer’s market you don’t want to miss.
- Hyundai is offering up to $10,000 in total savings on every IONIQ 5 and IONIQ 9 trim through its Getaway Sales Event.
- The 2026 Chevrolet Equinox EV receives discounts up to $10,000 this month, bringing prices close to used SUV territory.
- Toyota launched discounts, financing deals, and other incentives for its new 2026 EV lineup this month, with up to $7,000 in lease cash.
Why EV Prices Are Dropping So Fast
The electric vehicle market took a major hit last fall because of the expiration of the federal EV tax credit at the end of September. Previously, affordable deals relied on a loophole that allowed automakers to apply the tax credit toward the cost of a lease, which drove down costs for the consumer. While that’s no longer the case and the average price of the EVs on offer here has increased, there are still plenty of affordable lease and finance deals on electric vehicles this month.
To fill the gap left by the federal credit, brands like Hyundai, Chevrolet, Toyota, and Kia are rolling out their own cash bonuses and financing promotions. With more than 30 new EVs launching in the US in 2026, automakers are already discounting current models to make room. That aggressive competition is great news for anyone shopping a used Hyundai Palisade who might now be able to stretch into a brand-new electric SUV instead.
Hyundai and Chevy Lead the Discount Charge
Hyundai is making waves this month. Despite many automakers reporting fewer EV sales over the past few months after the $7,500 federal tax credit ended at the end of September, Hyundai’s electric SUV posted its best February sales month in the US yet. Hyundai sold 3,239 IONIQ 5s last month, up 33% from February 2025.
Hyundai is offering 0% APR financing for up to 72 months, plus an extra $5,000 off the 2026 IONIQ 5. The 2026 Hyundai IONIQ 5 SE Standard Range is available to lease for as low as $259 per month. The offer is for 24 months with $3,999 due at signing. Upgrading to the SE RWD, with up to 314 miles of range, costs just $10 more per month at $269.
Chevy is matching that energy. One of the cheapest electric vehicles sold in the U.S. has become up to $10,000 cheaper, which accounts for a massive 20% discount. We’re talking about the 2026 Chevrolet Equinox EV. The cheapest 2026 Chevy Equinox EV LT 1 (FWD) offers up to 319 miles of range. At these prices, a new Equinox EV costs about the same as many lightly used three-row SUVs.
Toyota and Kia Pile On the Savings
Toyota isn’t sitting this one out. The 2026 bZ, C-HR, and bZ Woodland electric SUVs are just arriving at dealerships, and Toyota is already heavily discounting them. The 2026 Toyota C-HR, bZ, and bZ Woodland are all eligible for a $7,000 lease cash bonus when leased through Toyota Financial Services.
Toyota’s electric SUV now features up to 314 miles of driving range, 25% more than the bZ4X. Starting at just $34,900, the 2026 bZ is also among the most affordable EVs in the US. Toyota is even offering a $5,000 customer cash bonus that cuts the starting price to under $30,000.
Kia is keeping pace with its own promotions. Kia dealers still have great discounts on the 2025 EV6, 2026 EV9 and 2025 Niro EV due to continuation of massive $10K+ factory incentives. Cash offers are ranging from $500 to $10,000 with the 2026 Kia EV9 having the best cash bonus.
Is a New EV a Better Buy Than a Used SUV?
A couple of years ago, the answer was almost always no. New EVs were pricey and hard to find, and grabbing a used SUV made sense for budget-minded families. Today, things look pretty different. With manufacturers aggressively discounting new electric vehicles, monthly lease payments on models like the IONIQ 5 and Equinox EV can actually come in lower than loan payments on a used three-row SUV.
If you’re a car shopper who wants to save money and has easy access to an electric vehicle charger, there are great deals out there this month. We found several excellent lease deals with monthly payments below the $250 mark. For those ready to buy, almost every vehicle on this list with a lease deal is also available with a 0% APR deal.
Of course, EVs aren’t for everyone. If you need a third row and towing capacity at a lower price point, a pre-owned Palisade is still tough to beat. But if daily commuting and fuel savings matter to you, the math on a new EV is looking better than it has in years. Hyundai, Chevy, and Toyota’s EV deals end on March 31, 2026. So if any of these offers catch your eye, don’t wait too long to take a test drive.
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