Rising gas prices and the Middle East war are increasing, leading some drivers to consider electric vehicles. Over 300,000 electric vehicles are expected to be returned from leases, leading to a surge in used EVs and hybrids. This influx is expected to lower prices. Many vehicles coming off lease will have fewer than 40,000 miles and still be under warranty, according to Edmunds' Joseph Yoon. The rise in EV leases fueled by the Inflation Reduction Act, which provided a $7,500 federal tax credit to EV owners three years ago, has since expired and many of these vehicles are now reaching the end of their lease terms.