Honda Lowers Lease on All-Electric Fit to $259 Per Month

By · May 30, 2013

Honda Fit EV

Honda today announced a new lower price for all-electric Fit EV. Beginning June 1, 2013, the lease price will be $259 a month—reduced from $389 per month. There is no down payment, unlimited mileage, free routine maintenance, collision coverage and even a 240-volt Leviton home charger thrown in. (Charger installation is not included.)

“We are lowering the price because the EV competitive landscape has changed since the introduction of the Fit EV in July 2012 with new competitors entering the market at a lower price point and existing competitors lowering their lease and purchase price,” said Jessica Fini, a Honda spokesperson, in an email to PluginCars.com. “In order to effectively compete in the EV market, we need a more competitive price.”

In recent months, automakers making small electric cars have commonly set lease prices to around $200 a month.

Fini told us that Honda has only managed so far to earn 174 Fit EV lessees. “We’re not satisfied with the rate of new leases, but we understood when we introduced the Fit EV that we had a lot to learn about marketing an all-electric vehicle to American consumers, who, in many cases, find it challenging to fully understand the advantages and disadvantages of this very different transportation technology.”

Small EV Lease Price Comparison

A cost comparisons provided by Honda in its press release about the Fit EV lease price reduction.

Fini said the lower price and other measures will help Honda achieve the company’s leasing targets. Honda will expand its dealer network from 36 dealers to more than 200 by the end of June, and streamline the leasing approval process. The network of qualified Fit EV Honda dealers includes California, Oregon, New York, New Jersey, Massachusetts, Maryland, Rhode Island and Connecticut.

The new reduced lease price and unlimited mileage term also will be applied to existing Fit EV customer leases going forward starting in June 2013.

The 2013 Honda Fit EV is the most efficient 5-passenger electric vehicle on the market with a combined E.P.A. mile-per-gallon-equivalency rating of 118 MPGe, an official driving range of 82 miles, and a low energy-consumption rating of just 29 kilowatt-hours (kWh) per 100 miles. In Sport mode, the Fit EV’s efficiency levels are lower—but provides one of the most spirited rides among affordable small electric cars.

Comments

· · 1 year ago

This is good news! This definitely makes the Fit EV much more affordable. I really like their design of the Eco mode, with free-wheel coasting when you lift your right foot. The Fit is a Tardis - I'd like to see if the revised seating still works as well as the standard Fit.

Neil

· · 1 year ago

Fit EV loses the "Magic Seat", but still roomy. Honda's "Mode Select" makes this the only car that "Coasting" NeilBlanchard and "Regening" KeiJidosha can agree on, this side of Tesla. For high mileage commuters with charging available at work, this is just an unbelievable deal, even before you factor in “fun to drive”. Pay less than your currently paying for gas each month, AND get a free car.

· · 1 year ago

This is exactly what I have been waiting for. I signed a lease tonight.

· · 1 year ago

This would be great news if the Fit EV were available to anyone outside of California.

· · 1 year ago

agree with smithjim. Even though we aren't looking for a car now I'd probably get a Fit EV today at these rates ... but I'm in a "flyover" state that the compliance EV makers are ignoring.

· · 1 year ago

This is a pretty exciting time to be looking at EV's. The lease deals are ridiculous, and the Honda Fit EV looks fantastic. If you don't mind that you will be turning the car in after 36 months, this is a guaranteed winner for the person looking to lease an EV. If I had this car right now at the terms listed as of June 1, I'd put 20,000 miles or more on the car, maybe a lot more. My ICE car would NEVER be driven. The 240 Charging station makes this just a great deal. I don't recall if the FIT has a 3.3 or 6.6 on board unit or if there is QC capability. But even if it is limited to the 3.3 w/o QC, it's still great.

· · 1 year ago

@ smithjim1961: Besides CA, the Fit EV is also available in Oregon, New York, New Jersey, Massachusetts, Maryland, Rhode Island and Connecticut. I know what it's like to be on the outside looking in. I tried to buy a Chevy Spark out of CA and was told I can't. Chevy won't allow it right now. Then the next day this Honda Fit EV lease deal was announced and I pounced!

@JKDLU: The Fit EV has a 6.6 kWh charger and can be fully charged in just 3 hours.

· · 1 year ago

I forgot to mention that I am in upstate NY.

· · 1 year ago

I've been asked if they have this car in red. Blue is all they ever seem to show. hehe

· · 1 year ago

@tterbo,

Um, no red. They're only making that blue. Really. Just the one color. At least the RAV4 EV comes in 3 colors.
I believe somebody already used the C-word - Can you say "Compliance". I knew you could. ;)

· · 1 year ago

Indeed a great news. I have been comparing & contrasting Leaf vs Fit EV. Earlier at $389 it was a no competitor, now it is.

Too bad though that its not available for rental yet, at least beyond CA. Couple of weeks ago I rented out Leaf. (Exp summarized below:
indudas.blogspot.com/2013/05/driving-nissan-leaf.html )

If only I had a chance to rent out Fit EV as well :(

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