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Friday, May 31, 2013

Honda Fit EV Lease Drops to $259 with Unlimited Miles

When we heard Fiat announce the $199 lease price for the all-electric 500e, we figured it would have a big effect on the electric vehicle market. After all, $200 a month for an EV makes a lot of sense for a lot of commuters. The next EV to get a price tag was the 2014 Chevy Spark EV, which ended up with most of the same numbers ($199/month, $999 down, 36 months, 12,000 annual mile limit) but you have to pay $0.25 a mile for each one over 12,000 a year. Now we have the latest reaction: the Honda Fit EV, and it stacks up well. Finally.

The all-electric Honda Fit originally had a three-year lease for $389 a month with $389 due up front, and was limited to 12,000 miles a year. Today, that number drops way down with the announcement that the new cost is just $259 with no down payment. That's more per month than the competition's $199, you might be saying, but the Fit EV comes with a free Leviton 240-volt charger (you still have to pay for installation) and unlimited mileage. Also, $259 a month gets you scheduled maintenance and collision coverage with your Fit EV, too. Honda's Jessica Fini told AutoblogGreen, "All these new additions effectively make the Fit EV one of the most affordable EVs on the market," and it's hard to argue against that. You can see the math yourself here.

If you already have a Fit EV and have been paying $389 a month, you'll be happy to know the new lease payment will apply to current customers going forward. The Fit EV is rated at 118 MPGe and has an 82-mile range. You can read our review of the car here. Honda will be increasing the number of Fit EV dealers in the states where the car is available – California, Oregon, New York, New Jersey, Massachusetts, Maryland, Rhode Island and Connecticut – from 36 to more than 200 by the end of June. This is a good sign that the company may one day stop treating the Fit EV like a California compliance car, but for now we still have 42 states to go.

Source: Honda & Autoblog
By: Sebastian Blanco

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