Fiat offering all-electric 500e city car at $414 per month lease
Fiat all-electric 500e
The Fiat 500e, the Italian brand’s cute & charming compact city car, is available for lease at $414 per month, a deal that seems high cost in the highly-competitive market. Despite the appeal of the compact EV and the availability of the $7,500 commercial lease tax credit, its high monthly payment and 149-mile range make it a nasty option compared to other EVs.
Unfortunately, the base price of $32,000 also make the 500e an uncompetitive option available in the U.S. market. However, the $7,500 commercial lease tax credit makes the vehicle somewhat more appetizing to some extent. Still, the monthly payment of $414 costs more per month than a number of electric cars that offer faster acceleration and longer ranges.
The automaker’s lease deal for Fiat 500e is a 36-month lease with 10,000 miles per annum. As per the lease agreement, the company requires a down payment of 10 per cent, which means that an individual or entity needs to make a down payment of $3,409 for the EV. The aforementioned tax credit, which Fiat’s parent company Stellantis calls the “Stellantis Financial Services EV Incentive,” is factored into the lease.
As already mentioned above, the EV lease market is becoming more and more competitive these days. For instance, Polestar recently advertised a $299 lease of its Polestar 2 hatchback for a period of 27 months, with a down payment of $3,299 at the time of signing of the lease agreement.
A base rear wheel drive (RWD) Tesla Model 3 electric sedan can be leased for just $299 per month with a down payment of $2,999. The Hyundai Ioniq 6 could be leased for just $189 per month and $0 down payment, depending on location of the individual and the trim level available in stock. These EVs offer nearly double the Fiat 500e car’s range even as these EVs offer better equipment and refinement. In short, there are several options available in the market that are bigger, faster as well as cheaper than the Fiat 500e. However, the Fiat 500e is prettier and more pleasant that many other options.
The Fiat 500e’s high price and 149-mile range put it at a disadvantage in a market that is growing more and more competitive day by day. This compact city car continues to present a compelling case, mainly because longer-range and better-equipped alternatives are available in the U.S. market.
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