VinFast, an ambitious upstart manufacturer out of Vietnam, once got their start with rebodied outgoing generation BMW 5-Series and X5 vehicles.  Mid-level German luxury isn’t a bad place to cut your teeth as a new player on the global scene. Fairly quickly, VinFast has evolved to become more than just a purveyor of new-old BMWs, transforming itself to an EV brand, a global one at that.

Of the two electric SUVs on offer, the VF8 two-row is starting to go on sale and the three-row VF9 is coming shortly.  Smaller VF6 & VF7 SUVs are expected by the end of 2023. Pricing gets a bit complicated with the battery leasing program VinFast intended to launch, but for now the VF8 starts at $59,000 (plus $1,200 destination) and the VF9 at $83,000 (also plus $1,200 destination).

What’s a SUV launch without a lease offer? Both VF8 trims come very well equipped, which is good as neither is cheap.

For now, VinFast is launching the VF8 in a ‘City Edition’ with a California-only 24-month lease offer. Like the standard VF8 and upcoming VF9 (and likely the VF6 & VF7), the VF8 CE will be offered in Eco & Plus trim levels. The Eco trim offers 348-hp and a 0-60 time listed at 6.5 seconds, the Plus with 402-hp reducing that 60 time by a second to 5.5. AWD, a 15.6” screen and plenty of other standard kit. The Plus includes all the goods from the Eco and adds a panoramic sunroof, larger wheels, power tailgate, more power seat adjustment and more speakers in addition to the added oomph under the hood (or wherever the motors actual sit these days). Both trims offer the same 82-kWh battery, but strangely only 179-miles of range (apparently VinFast promises to increase this via a software update as early as Jan’23)

But back to the lease deal, let’s get down to the numbers, $599/month for the Eco and $699/month for the Plus. $4,480 down on the Eco and $5,395 on the Plus with $695 acquisition either way. Meaning an effective payment of $815 for the Eco and $953 for the Plus before tax, registration or fees.  Not exactly affordable, but it’s an offer. Either model represents a $3,000 discount as part of the City Edition, apparently. The lease end purchase option seems to reflect a residual value of 66% for the Eco and 65% for the Plus.

All in, not an aggressive lease offer, but hardly any manufacturer has an aggressive lease offer these days, especially not for their newer EVs. Perhaps like all of those vehicles, if you really want one, financing might be the more sensible choice.