Ultimately, it depends on what you are looking for.

The ID.4 is Volkswagen’s first new-generation electric vehicle designed for the entire world. It will be sold in Europe, North America, and China and will compete against proven electric vehicles such as the Chevrolet Bolt, Hyundai Kona Electric, Kia Niro, and others. At a glance, the German zero-emission crossover seems to have all it takes to become one of the best-selling EVs on the market.

The starting price of the ID.4 is $39,995 for the rear-drive model, while the ID.4 1st Edition series equipped as standard with the Statement and Gradient packages comes at $43,995. These prices seem fair to us and our colleagues at CarsDirect have already analyzed the preliminary lease deal for the model of $379 per month. Is it competitive against the current EVs? Let’s find out.

Gallery: 2021 Volkswagen ID.4 Debut

Our source says that the lease offer comes at $379 for 36 months with $3,579 due at signing. Quick math brings us to the conclusion that, due to the signing fee, the effective cost is actually $478 per month before taxes and it makes the ID.4 a less attractive deal compared to its direct rivals.

Take for example the Hyundai Kona Electric, which is currently listed at $319 for 36 months with $3,999 at signing. According to CarsDirect’s calculations, this results in an effective cost of $430 or more affordable than the ID.4 by $48 per month. Of course, a direct comparison between the South Korean EV and VW’s emission-free crossover is not 100 percent fair because the latter is larger and probably more practical on a daily basis.

On the positive side, Volkswagen says the ID.4 will be priced similarly to the Tiguan SEL when factoring-in the tax credit. Obviously, not all customers will qualify for the full amount of incentives but the SUV already looks like something to be excited for on the EV scene.