Now you can lease a Fiat 500e for zero down and 0 {dollars} a month earlier than taxes – or, properly, at the least some clients can.
Longtime EV drivers will keep 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 in opposition to EVs – however a part of his advocacy was as a result of he additionally ran one of many highest-emitting automobile firms, which meant it needed to spend billions of {dollars} to make up the penalties for its noncompliance with air pollution legal guidelines.
One among 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, whilst a “spare” automobile, as a result of the lease value far lower than the quantity they’d save in gas from leaving their gasser at residence extra usually.
The previous model of the 500e went the best way of the dodo for the US market in 2019, however then Fiat resurrected the automobile 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 automobile principally free… properly, earlier than taxes. Together with taxes, you’ll need to pay a $1,297.68 down fee, however the $0/month payment carries by the entire lease time period from there. On the finish of the lease, you’re chargeable for a $395 disposition payment, making the overall value just below $1,700 for the 27 month lease. That’s underneath $63/month, on common.
The dealership is ready to supply this low value as a result of 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 automobile profit from the $7,500 federal tax credit score, however Colorado additionally has a state credit score of $7,500 on vehicles underneath $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 automobile with a $32.5k base value can have just about your entire value of the lease lined by incentives, aside from taxes. Fiat calculates the residual worth of the automobile shall be $17,388.45 on the finish of the lease time period, at which level clients 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 automobile, with its small dimension, 42kWh battery, and round 140-150 miles of vary. So for drivers who need a right-sized automobile to get round city as an alternative of a ridiculous land yacht, it could possibly 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 you probably have a protracted commute that maxes out that vary, you would possibly run afoul of the ten,000-mile limitation, however in case you’re utilizing it for a shorter commute and working 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 in case you aren’t in Colorado and nonetheless need 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 – however it’s actually the craziest we’ve seen.
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