Hyundai says new Casper EV can now be leased for less than $8/day in Korea

Hyundai’s new low-cost Casper EV can now be leased for less than $8 a day. Through its new “Battery Care Lease” plan, Hyundai’s new electric SUV is even cheaper to drive than the gas-powered model.

Last month, Hyundai made a statement after opening pre-orders for its new Casper Electric in Korea, starting at just $23,000 (31.5 million won).

With incentives, Hyundai said the Casper EV can be bought for as little as $14,500 (20 million won). Now, the Korean automaker is making it even more affordable for buyers in its home market.

Hyundai launched a new Battery Care Lease plan exclusively for the new Casper EV. The new program, a first in Korea, reduces lease prices by reflecting the residual battery of the vehicle.

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When leasing the new EV, drivers can check the battery status, charging and driving habits, and more through the Hyundai Capital App.

Hyundai Capital will pay drivers $225 (300,000 won) after the lease ends if the battery meets certain standards to encourage safe and efficient driving.

Hyundai’s new Casper EV gets even more affordable

Hyundai estimates the average lifespan of Casper Electric models to be ten years and will cover the remaining value through “advance purchases.”

Casper Electric customers who lease the car for five years will receive a discount equal to the battery price when the vehicle is scrapped after ten years.

Hyundai said the Casper EV can be leased for less than $7.50 (10,000 won) per day, which is even cheaper than the gas-powered model.

A five-year lease for a gas-powered (1.0T Inspiration) Casper model is around $215 (KRW 287,000) per month. Hyundai’s Casper EV with the battery care lease plan is around $205 (KRW 273,000) per month.

The new lease offer will “help relieve customer anxiety about batteries and lower the initial price burden of electric vehicles,” a Hyundai Motor Company official said.

Hyundai launched the program after a battery fire caused a stir in Korea. Hyundai and other automakers have released battery supply information and taken other measures to ease concerns.

The Casper EV will be called the Inster EV in Europe. It gets up to 221 miles (225 km) WLTP range, starting under $27,000 (25,000 euros).