The deals just keep on coming. Most recently Honda slashed the lease price on its EV Fit to only $259 per month. This is a zero down rate! And what is most amazing is that it comes with UNLIMITED mileage. Plus free scheduled maintenance. On top of this value it also includes collision insurance. This appears to be one of the best leasing packages in the automobile industry. Right now the Nissan Leaf, Ford Energi, Fiat 500e and Chevy Spark EV do NOT offer either unlimited mileage or collision insurance.
The only bad news on this great deal is that it is only available in these states: California, Oregon, New York, New Jersey, Massachusetts, Maryland, Rhode Island and Connecticut.
A List Of Great Deal
Honda is not the only car company offering great leases on electric cars. Here’s a list of what’s out there:
Chevy Volt. This not a pure EV but it is a Motor Trend Car Of The Year deserving of being in this list. It’s small gasoline engine charges the batteries extending driving range on a single charge and gasoline tank to over 300 miles. Look for a lease of $269 per month for 36 months, $2,000 down and 25 cents per mile over 36,000 miles. This car is fast and fun. Read my blog on how I let some Porsche Club of America friends drive this car where we ended up getting pulled over for speeding!
Nissan Leaf. The Leaf is the pioneer in mass market EVs. It is being offered at an amazingly low $199 per month with $1,999 down. Here’s my video test drive of the Leaf. As you will see this electric car easily carries four people, a dog and a lot of luggage or groceries. I have a work associate friend who drives one. Her MONTHLY fuel (electric) bill is $10!!
Fiat 500e. Fiat helped to start this EV price war by offering their 500e at $199 per month with $999 down. The 500e has an EPA estimated 87 miles per charge that tops the Honda Fit EV’s 82 miles per charge and the Leaf’s 73 miles per charge. The average daily commute is 32 miles so these cars can be driven all day without recharging for most commuters except for those in the extreme commute category of over 90 miles per day that will need to recharge their EV at their work site.
Ford C-Max Energi. I’ve driven this car. It is set up like the Volt with a gasoline motor charging the batteries. A great technology but so far Ford doesn’t seem to have risen to the price war challenge. They are offering a $325 per month lease with $3829 at signing. I can’t imagined Ford not responding more aggressively to this EV price war. Stay tuned.
Chevy Spark. This compact EV comes with a compact lease price. It is only $199 per month with $999 down. But it is only available in California and Oregon.
Low Lease Payments + One Cent Per Mile!
What you save in a low lease payment for an EV doesn’t end with the monthly payment. While the data continues to accumulate it appears the cost per mile to run an EV is about one to 3 cent! That compares to the cost of a gasoline power car of 8-15 cents.
About The Author
Bill Roth is an economist and the Founder of Earth 2017. He coaches business owners and leaders on proven best practices in pricing, marketing and operations that make money and create a positive difference. His book, The Secret Green Sauce, profiles business case studies of pioneering best practices that are proven to win customers and grow product revenues. Follow him on Twitter: @earth2017