Honda to Lease Accord Plug-In Hybrid for $429 Per Month
Is the 2014 Honda Accord Plug-In Hybrid priced to compete with lease deals offered on other readily available plug-in vehicles in the US? The short answer is "no," but we'll provide details for you to decide.
On Monday, Honda announced the limited (New York and California only right now) availability of the Accord Plug-In Hybrid. Buried in the press release was Honda's first mention of a lease deal for the Accord PHEV: $429 per month for 36 months; $2,499 total due at signing; option to purchase at lease end $20,285; must take delivery from dealer stock by March 4, 2013. So, the vital numbers there are $429 per month and $2,499 down.
Toyota is currently offering this nationwide lease special on the Prius Plug-In Hybrid for the rest of January:
"Lease a new 2012 Prius Plug-in for $259 a month for 36 months with $2,399 due at signing, which includes $2,120 down, $259 first month's payment and $0 security deposit. Lease-end purchase option is $20,480."
The 2013 Chevy Volt is readily available at lease rates as low as $159 per month with $0 down payment, but Chevrolet's standard three-year lease for the 2013 Volt is listed at $299 per month with $1,529 due at signing.
Finally, with the massive price drop announced for the 2013 Nissan LEAF S version, consumers across the nation will be able to lease a 2013 LEAF for $199 per month for 36 months with $1,999 due at signing.
Of course, regional deals are typically available on all vehicles and plug-ins are not an exception. But here we presented nationwide figures straight from the automakers' websites. So, at $429 per month, the Accord Plug-In Hybrid seems overpriced—none of the other plug-ins listed above even crack past the $300 per month mark.
Is it priced to compete? Our answer is still "no," but what's your take?
New to EVs? Start here
What Is An Electric Car?
Before we get going, let's establish basic definitions.
A Quick Guide to Plug-in Hybrids
Some plug-in cars have back-up engines to extend driving range.
Electric Cars Pros and Cons
EVs are a great solution for most people. But not everybody.
Seven Things To Know About Buying a Plug-In Car
A few simple tips before you visit the dealership.
Federal and Local Incentives for Plug-in Hybrids and Electric Cars
Take advantage of credits and rebates to reduce EV costs.
Eight Factors Determining Total Cost of Ownership of an Electric Car
EVs get bad rap as expensive. Until you look at TCO.
Quick Guide to Buying Your First Home EV Charger
You'll want a home charger. Here's how to buy the right one.
Electric Car Utility Rate Plans: Top Five Rules
With the right utility plan, electric fuel can be dirt cheap.
The Ultimate Guide to Electric Car Charging Networks
If you plan to charge in public, you'll want to sign up for charging network membership (or two).
Eight Rules of Electric Vehicle Charging Etiquette
Thou shalt charge only when necessary. And other rules to live by.