You can now lease a Fiat 500e for zero down and zero dollars a month before taxes – or, well, at least some customers can.
Longtime EV drivers will remember a time when Fiat was leasing its 500e for crazy low prices.
At the time, Fiat’s CEO, Sergio Marchionne, was one of the loudest advocates against EVs – but part of his advocacy was because he also ran one of the highest-emitting car companies, which meant it had to spend billions of dollars to make up the penalties for its noncompliance with pollution laws.
One of Fiat’s methods to try to get into compliance was to sell as many cute, tiny, electric Fiat 500es as possible in California and Oregon, the only states it was available in at the time. And it did so by offering crazy lease prices, as low as around $69/mo. Many customers snatched one up, even as a “spare” car, because the lease cost far less than the amount they’d save in fuel from leaving their gasser at home more often.
The old version of the 500e went the way of the dodo for the US market in 2019, but then Fiat resurrected the car and started selling the “New 500e” in the US this year, and it’s available in more states too.
And now, those times of crazy lease prices seem to be back, but 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 offering a 27-month lease for $0/month and $0 down, making the car basically free… well, before taxes. Including taxes, you’ll have to pay a $1,297.68 down payment, but the $0/month fee carries through the whole lease term from there. At the end of the lease, you’re responsible for a $395 disposition fee, making the total cost just under $1,700 for the 27 month lease. That’s under $63/month, on average.
The dealership is able to offer this low price due to government incentives, which are excellent in the state of Colorado (which, like California, also has strict emissions rules that Fiat wants to gain compliance with). Not only does the car benefit from the $7,500 federal tax credit, but Colorado also has a state credit of $7,500 on cars under $35k MSRP, which the 500e qualifies for (it’s $5k on cars >$35k). These credits are retained by the dealer, and used to lower the lease price.
This all means a car with a $32.5k base price can have pretty much the entire cost of the lease covered by incentives, except for taxes. Fiat calculates the residual value of the car will be $17,388.45 at the end of the lease term, at which point customers can purchase it for that amount if they like.
There’s still limited mileage of 10,000 miles per year, after which you pay .30/mile. But the 500e is still very much focused on being a city car, with its small size, 42kWh battery, and around 140-150 miles of range. So for drivers who want a right-sized car to get around town instead of a ridiculous land yacht, it could be quite a good option.
As a driver who used to have a ~100mi range Mini E, this was plenty to get around Southern California (and I could find parking anywhere) – and I didn’t even have 85kW DC charging capability like the 500e does. So if you have a long commute that maxes out that range, you might run afoul of the 10,000-mile limitation, but if you’re using it for a shorter commute and running around town you should be fine.
If you happen to be near Denver, you can find the deal here on Larry H. Miller’s site. But if you aren’t in Colorado and still want a Fiat 500e, feel free to use our link to reach out to local dealers in your area to find a 2024 Fiat 500e. We imagine this won’t be the only crazy lease deal on them out there – but it’s certainly the craziest we’ve seen.
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