Forced by state regulators to sell more zero-emission vehicles, automakers are tripping over each other to offer consumers rock-bottom lease deals. For the first time, electric vehicles are penciling out cheaper than their gas-powered counterparts.
Honda joined the price war this week by dropping the lease on its Fit EV from $389 to $259 a month. It threw in collision and vehicle theft coverage, maintenance, roadside assistance — even a charging station at your house. Factoring in a state rebate, a customer can drive off the lot with an all-in, three-year commitment of less than $7,000. That may make the Fit EV the cheapest $37,000 car in history.
Still, the Honda will have to compete with recently announced $199-a-month leases on the Nissan Leaf, the Fiat 500e and the Chevrolet Spark. Ford is offering its Focus EV for $284 a month.
$200-300 per month and charging costs almost nothing compared to filling up a traditional car at the pump?
Sign me up.