Now you can lease a Fiat 500e for zero down and 0 {dollars} a month earlier than taxes – or, properly, no less than some prospects can.
Longtime EV drivers will bear in mind a time when Fiat was leasing its 500e for loopy low costs.
On the time, Fiat’s CEO, Sergio Marchionne, was one of many loudest advocates towards EVs – however a part of his advocacy was as a result of he additionally ran one of many highest-emitting automotive corporations, which meant it needed to spend billions of {dollars} to make up the penalties for its noncompliance with air pollution legal guidelines.
Considered one of Fiat’s strategies to attempt to get into compliance was to promote as many cute, tiny, electrical Fiat 500es as doable in California and Oregon, the one states it was obtainable in on the time. And it did so by providing loopy lease costs, as little as round $69/mo. Many purchasers snatched one up, at the same time as a “spare” automotive, as a result of the lease value far lower than the quantity they’d save in gas from leaving their gasser at residence extra typically.
The previous model of the 500e went the best way of the dodo for the US market in 2019, however then Fiat resurrected the automotive and began promoting the “New 500e” within the US this yr, and it’s obtainable in additional states too.
And now, these instances of loopy lease costs appear to be again, however this time it’s in Colorado, and the lease is even cheaper.
Fiat 500e for $0/mo, $0 down (+tax) in Denver
One dealership in Colorado, Larry H. Miller Chrysler/Dodge/Ram/FIAT Denver, is now providing a 27-month lease for $0/month and $0 down, making the automotive mainly free… properly, earlier than taxes. Together with taxes, you’ll need to pay a $1,297.68 down cost, however the $0/month payment carries by means of the entire lease time period from there. On the finish of the lease, you’re accountable for a $395 disposition payment, making the entire value just below $1,700 for the 27 month lease. That’s below $63/month, on common.
The dealership is ready to provide this low worth on account of authorities incentives, that are wonderful within the state of Colorado (which, like California, additionally has strict emissions guidelines that Fiat desires to achieve compliance with). Not solely does the automotive profit from the $7,500 federal tax credit score, however Colorado additionally has a state credit score of $7,500 on automobiles below $35k MSRP, which the 500e qualifies for (it’s $5k on automobiles >$35k). These credit are retained by the supplier, and used to decrease the lease worth.
This all means a automotive with a $32.5k base worth can have just about the complete value of the lease coated by incentives, aside from taxes. Fiat calculates the residual worth of the automotive will likely be $17,388.45 on the finish of the lease time period, at which level prospects can buy it for that quantity in the event that they like.
There’s nonetheless restricted mileage of 10,000 miles per yr, after which you pay .30/mile. However the 500e continues to be very a lot centered on being a metropolis automotive, with its small measurement, 42kWh battery, and round 140-150 miles of vary. So for drivers who desire a right-sized automotive to get round city as a substitute of a ridiculous land yacht, it could possibly be fairly a great possibility.
As a driver who used to have a ~100mi vary Mini E, this was a lot to get round Southern California (and I may discover parking wherever) – and I didn’t even have 85kW DC charging functionality just like the 500e does. So when you’ve got a protracted commute that maxes out that vary, you may run afoul of the ten,000-mile limitation, however for those who’re utilizing it for a shorter commute and working round city you ought to be effective.
For those who occur to be close to Denver, you may discover the deal right here on Larry H. Miller’s web site. However for those who aren’t in Colorado and nonetheless desire a Fiat 500e, be at liberty to use our hyperlink to achieve out to native sellers in your space to discover a 2024 Fiat 500e. We think about this gained’t be the one loopy lease deal on them on the market – but it surely’s actually the craziest we’ve seen.
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