Polestar Flexible Lease Program Minimizes Commitment

polestar 2 2024 exterior oem 09 jpg 2024 Polestar 2 | Manufacturer image

Despite the nation’s rapidly growing public-charging infrastructure, an electric vehicle still represents a monumental shift in usage patterns and flexibility for most American drivers. A new leasing program from Polestar seeks to ease people into EV ownership by reducing the commitment involved.

Related: Leased and Used Electric Vehicles Now Qualify for Federal Tax Credits

Polestar’s Flexible Lease program requires customers to initiate a 24-month lease, but at any time after five monthly payments, they can walk away with no early termination fee. For those with a fear of commitment — or who aren’t quite confident enough that an EV fits their lifestyle — the program lowers another barrier to EV adoption.

Polestar also notes that the Flexible Lease program’s lessened commitment gives buyers a convenient way to fill their garage while waiting for the brand’s upcoming vehicles. Currently, Polestar’s only offering is the 2, a high-riding four-door hatchback, but buyers can configure and order a 3 SUV now for delivery in the second quarter of 2024. Its fastback sibling, the 4, will be available in a similar timeframe. When the 3 and 4 arrive at dealerships, Polestar will offer them under the Flexible Lease program, as well.

There’s something in it for dealers, too, as the program entices interested lessees to visit a Polestar showroom now rather than wait until the middle of 2024 for new models. Vehicles leased under the new program are also eligible for Polestar’s $8,500 Clean Vehicle credit. As the federal tax credits for EV purchases are only available on those cars manufactured in the U.S., this credit doesn’t put money directly into the lessee’s pocket but is instead factored into the lease-payment math by the dealer.

Editor’s note: This story was updated Nov. 6, 2023, to clarify there are no early termination fees after five monthly payments.

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