Now you can lease a Fiat 500e for zero down and nil {dollars} a month earlier than taxes – or, effectively, at the least 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 firms, which meant it needed to spend billions of {dollars} to make up the penalties for its noncompliance with air pollution legal guidelines.
One in every of Fiat’s strategies to attempt to get into compliance was to promote as many cute, tiny, electrical Fiat 500es as potential 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 gasoline from leaving their gasser at residence extra typically.
The outdated model of the 500e went the best way of the dodo for the US market in 2019, however then Fiat resurrected the automotive and began promoting the “New 500e”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 occasions 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… effectively, earlier than taxes. Together with taxes, you’ll must pay a $1,297.68 down fee, however the $0/month price carries by means of the entire lease time period from there. On the finish of the lease, you’re chargeable for a $395 disposition price, making the whole value slightly below $1,700 for the 27 month lease. That’s below $63/month, on common.
The dealership is ready to supply this low value resulting from authorities incentives, that are wonderful within the state of Colorado (which, like California, additionally has strict emissions guidelines that Fiat needs to realize 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 vehicles below $35k MSRP, which the 500e qualifies for (it’s $5k on vehicles >$35k). These credit are retained by the seller, and used to decrease the lease value.
This all means a automotive with a $32.5k base value can have just about all the value of the lease lined by incentives, aside from taxes. Fiat calculates the residual worth of the automotive might be $17,388.45 on the finish of the lease time period, at which level prospects should purchase 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 remains to be very a lot targeted 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 may very well be fairly a great choice.
As a driver who used to have a ~100mi vary Mini E, this was loads to get round Southern California (and I might discover parking anyplace) – 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 if you happen to’re utilizing it for a shorter commute and operating round city try to be nice.
Should you occur to be close to Denver, you’ll be able to discover the deal right here on Larry H. Miller’s web site. However if you happen to aren’t in Colorado and nonetheless desire a Fiat 500e, be happy to use our hyperlink to succeed in out to native sellers in your space to discover a 2024 Fiat 500e. We think about this received’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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