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Electric car leases: The prices are insane

How low will they go? At least three battery vehicles are now available for $199 a month, and Honda’s $259 deal even includes a $5,000 to $10,000 garage charger.
Mon, Jun 10 2013 at 4:45 PM
Related Topics:
Electric Cars, Electric Vehicles

SHOCKING PRICE: The Chevrolet Spark isn’t cheap to buy, but it’s sure an affordable lease–just $199. (Chevrolet photo)
When faced with electric car sales in the doldrums, automakers did the smart thing—they cut the price. You can now lease the Fiat 500e, Smart Electric Drive and the Chevrolet Spark EV for an eye-popping $199 per month, with three years to pay. And (pictured below) the Honda Fit EV is available for $259 a month (a price that includes a very valuable garage charger, unlimited mileage and no money down). And the cars (including the Smart Electric Drive, seen below in European guise) are heading out of the door as fast as the factories can spit them out.

This is a good problem for EV companies to have. Until recently, they were watching battery cars pile up on the dealer lots, which is ultimately fatal for carmakers that turn out a lot of gas guzzlers. After all, the major automakers are compelled by the double whammy of federal fuel economy rules that require them to reach a fleet average of 54.5 mpg by 2025, and California’s escalating zero-emission vehicle mandates, also pegged to 2025, that aim for 1.5 million electric and hydrogen cars on state roads.

The fed standards are hard to meet unless zero emission cars are a significant part of your mix, and with California’s singular approach, you don’t have any choice.
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