VinFast Gives Customers A Good Reason To Shun Tesla And Get A VF 8

With demand for electric vehicles cooling down, automakers – particularly unfamiliar newcomers like VinFast – are working hard to get cars out of showrooms and onto driveways. As a result, there are some great deals to be had, with the VF 8 now available for lease at $299 a month. It’s worth noting that the automaker has gone lower in the past, offering the VF 8 at $269 in January this year.

CarsDirect reports that the VF 8 Eco ($46,000 before destination fees) can be leased for $299 p/m over three years. Considering the initial $3,230 payment, the VF 8 could cost as little as $389 a month, which is excellent value and works out to $14,004 over 36 months. But are the low monthly costs reason enough to get behind the wheel?

Much Cheaper To Lease Than A Model Y

VinFast has been plagued with quality issues, and the VF 8, in particular, fails to match its rivals in several areas. The Tesla Model Y is a class leader in numerous categories, with superior performance and claimed range. However, it’s also much more expensive to lease, at $399 p/m over a 36-month period. Add the $4,093 required at signing, and it works out to $513 monthly. Interestingly, the Model Y has a lower MSRP ($44,490) than the VF 8.

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The Tesla Model 3 appears to be cheaper than the VinFast VF 8, with the same $299 monthly payment over 36 months. However, with $2,999 down, it works out at around $382 a month for the duration of the leasing contract. What buyers must consider is what represents better value in their minds; some will happily pay extra just for the security of a known entity like Tesla, while others will be attracted to VinFast’s impressive 10-year warranties.

But Before You Rush Off To A VinFast Dealership…

If you’re looking to lease an electric crossover and the quirks of the VF 8 don’t put you off, it does look like a good deal. But before you rush off to your nearest retailer (VinFast initially had a direct-to-consumer approach), customers may want to look at what other manufacturers have to offer. The exceptional 2024 Hyundai Ioniq 5 (in SEL trim) can be leased for even less. $229 over 24 months is remarkable, even when you factor in the $3,499 required at signing. This still only equals $375 p/m for a car that retails for $47,400.

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But if you want to get the most out of your money, the VinFast and Hyundai are swiftly beaten by the oft-forgotten Toyota bZ4X. It’s not particularly exciting, and its rivals are far more attractive packages, but many buyers will overlook that for a lease deal of $209 per month over three years, with an upfront payment of $1,999. That works out to $265 with everything included, which undercuts the VinFast by more than $120 a month. That leaves the VinFast in an awkward position. Better electric crossovers are available for less money, and Tesla’s accomplished Model Y isn’t that much pricier. It will be interesting to see how customers respond to VinFast’s latest deals and whether the brand will be forced to go even lower to lure customers.

Source: CarsDirect