Volvo’s new EV costs the same to lease as a Tesla Model Y Premium

Volvo’s new “game-changing” midsize electric SUV, the 2027 EX60, is now on sale, but is it worth it to lease?

2027 Volvo EX60 lease offers

Volvo said it’s lowering the threshold for a premium electric SUV after opening orders for the all-new EX60 on Monday.

The 2027 Volvo EX60 starts at $58,400, which is nearly $23,000 cheaper than the three-row EX90. It’s also less expensive than most premium electric SUVs currently on sale, including the new BMW iX. BMW opened orders for the 2027 iX3 earlier this month, starting from $61,500.

While the EX60 is slightly less expensive, it doesn’t offer as much driving range. Volvo’s cheapest EX60 model, the P6 Plus, offers a driving range of up to 307 miles. The EX60 P10 AWD starts at $60,750 and offers up to 322 miles of range.

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Volvo said the EX60 P12 will go on sale later this year, delivering up to 400 miles of range, more than any of its current EVs, but it’s still less than the iX3, which BMW said offers a range of up to 434 miles. That’s with 20″ Summer Tires, which are available at no extra cost.

What about leasing? The first lease deals for the 2027 EX60 are now posted on Volvo’s website, listed at $599 a month for 36 months with $6,409 due at signing.

Using BMW’s lease calculator, the 2027 iX3 50 xDrive costs $798 per month for the same 36-month lease with $6,409 due at signing.

At $599 per month, the 2027 Volvo EX30 is the same to lease as the Tesla Model Y Premium RWD, which offers an EPA estimated driving range of up to 357 miles.

After raising prices by up to $1,000 just days ago, the Model Y Premium RWD is now listed at $599 per month for 36 months, but that’s with $4,295 due at signing. If you match the EX60’s $6,409 down payment, the monthly payment drops to $534.

You can even lease a fully decked-out top-of-the-line Hyundai IONIQ 9 Calligraphy Design, a three-row AWD electric SUV, for about the same price as the EX60 despite being nearly $20,000 more expensive.

Thanks to generous incentives, the 2026 Hyundai IONIQ 9 Calligraphy Design is listed at $617 per month for 36 months, with a $6,409 down payment. Hyundai’s three-row electric SUV offers an EPA-estimated range of up to 311 miles.

While the EX60 is cheaper to buy, others on the list have it beat when it comes to leasing with added discounts and incentives.

Those interested can start scheduling test drives later this summer, and the first deliveries will follow shortly thereafter. As summer approaches, we’ll keep an eye out for new deals. Volvo’s current EX60 lease offer ends on June 30, 2026.

Which electric SUV would you drive home? Drop your pick below in the comments.

If you want to check one out in person, we can help you get started. While the new BMW iX3 and Volvo EX60 are still on the way to dealerships, you can already score deals on the Tesla Model Y, Hyundai IONIQ 9, and current Volvo and BMW EVs near you using the links below.