Honda drops price on Fit EV leases


Automakers have decided that EVs (electric vehicles) are not just for early adopters anymore. In an attempt to get their EVs in to the hands of consumers, many companies are offering leases on EVs with monthly payments that are out of proportion to the car's purchase price. As an example, the new Fiat 500e would cost almost $32,000 to buy, but the Italian automaker is offering a 36-month lease for $199/mo with $999 down (you know the pluses on leases). Even Ford's almost $40k Focus e can be had for $284/mo for the same 36 months and $929 down. Honda has dropped the price on its Fit EV (almost $37k to buy, EPA mile-per-gallon-equivalency rating of 118 MPGe, an EPA-rated driving range of 82 miles) lease from $389/mo to $259/mo for 36 months with $0 down. The cool thing is that for your $259 monthly charge, Honda includes the Leviton charger (you must pay for installation) and there is no annual mileage limit. Since EVs are usually urban dwellers, annual mileage limits should not be a problem, but it is nice to know that you can go as far afield as you like. And Kelly Blue Book recently named the Fit EV one of the "10 Best Green Vehicles for 2013."  More info after the jump.

Source: Honda - Press release, comparison chart, pics (4), and video after the jump.




Press Release:
Honda Reduces the Cost to Take Home a Fit EV


  • Fit EV monthly lease price reduced from $389 to $259 a month for new and existing lessees
  • New three-year lease term requires no down payment and includes unlimited mileage, routine maintenance and collision coverage
  • Customers receive 240 volt EV home charging station equipment as part of the lease
Honda today announced an attractive new price package for the highly efficient and fun-to-drive all-electric Fit EV including the new competitive lease price of $259 a month beginning June 1. Reduced from $389 a month, the new three-year lease term stretches customer's electric dollar even further with no down payment, unlimited mileage, routine maintenance, collision coverage and a 240 volt EV home charging station equipment (not including installation),1 from Leviton.

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. With the reduced payment, unlimited mileage, maintenance and collision coverage, this new lease program makes the Fit EV one of the most affordable2 electric vehicles available in the U.S.

"The Fit EV already is a benchmark electric vehicle with a leading-range rating, fun-to-drive dynamics and excellent packaging," said Steve Center, vice president of Environmental Business Development at American Honda Motor Co., Inc. "Now it's the only EV on the market with no down payment, unlimited mileage, collision coverage and a free home charging station, giving customers an unprecedented value that only Honda can provide and a compelling reason to get off the barrel and onto the grid."

In addition to the new lease price, the Fit EV online application process is further streamlined to allow for quicker approval and delivery of the vehicle to the customer. Further, the network of qualified Fit EV Honda dealers in California, Oregon, New York, New Jersey, Massachusetts, Maryland, Rhode Island and Connecticut will expand from 36 to more than 200 by the end of June.

Recently named one of the Ten Best Green Cars by KBB.com , the 2013 Honda Fit EV is the most efficient 5-passenger electric vehicle on the market with a combined adjusted Environmental Protection Agency (EPA) mile-per-gallon-equivalency rating of 118 MPGe3, an EPA-rated driving range of 82 miles, and a low energy-consumption rating of just 29 kilowatt hours (kWh) per 100 miles.

Fit EV customers also can take advantage of Honda's partnership with SolarCity to install solar power with no upfront cost, allowing them to recharge their vehicle with clean, affordable power from the sun.

Customers interested in leasing the Fit EV or learning more about the vehicle, are encouraged to visit http://automobiles.honda.com/fit-ev/. Information on the SolarCity partnership can be found at http://www.hondasolarcity.com/.
Fit EV Competitive Lease Comparison


1.Customer responsible for costs associated with installation of the 240 volt, 32 amp charging hardware, which is provided by Leviton, Honda's preferred charging station supplier. Equipment remains with the customers after lease term.
2.See chart above.
3.132/105/118 city/highway/combined miles per gallon of gasoline-equivalent (MPGe) rating; 82 mile combined (city/highway) driving range rating (adjusted). Ratings determined by U.S. EPA. Your MPGe and range will vary depending on driving conditions, how you drive and maintain your vehicle, battery age/condition, and other factors. For additional information about EPA ratings, visit http://www.fueleconomy.gov/feg/label/learn-more-electric-label.shtml.
4.Amount due at signing may include down payment, capitalize cost reduction, acquisition fee, security deposit and first month payment. Does not include taxes and title fees.
5.Collision Coverage is included with the lease. This means that Honda is taking the risk and responsibility for repairs to the Fit EV, leaving to the lessee only the responsibility to obtain and carry liability insurance for at least the minimum required by the lease. There is no deductible, and Honda will evaluate and approve all repair requests submitted. The lessee will be required to call a toll free number to report all collisions/damage and receive instructions to arrange for repairs.




Press Release:
Award-Winning Honda Fit EV Continues to Impress Industry Experts; Named to KBB.com’s 10 Best Green Cars of 2013
Kelley Blue Book impressed with Honda Fit EV’s unique blend of power and efficiency 

Industry experts at KBB.com have named the Honda Fit EV to their annual list of 10 Best Green Cars. The editors at KBB.com were impressed with the Fit EV's combination of efficiency and power, which made it an easy choice as one of the best green vehicles of 2013. This most recent award continues Honda Fit EV's recognition as one of the best electric vehicles on the market today.

"Consumers only have one choice for the most energy efficient electric vehicle – the Honda Fit EV. What's more, its power and handling make it one of the most fun-to-drive EV's available," said Art St. Cyr, vice president of product planning and logistics at American Honda. "This recognition from KBB.com further highlights the tremendous environmental and customer value that the Honda Fit EV offers."

The 2013 Honda Fit EV, part of Honda's diverse portfolio of alternative-fuel vehicles, has a combined adjusted Environmental Protection Agency (EPA) mile-per-gallon-equivalency rating of 118 MPGe1, an EPA-rated driving range of 82 miles, and a low energy-consumption rating of just 29 kilowatt hours (kWh) per 100 miles.

Based on the award-winning five-door, five-passenger Honda Fit, the 100-percent electric Fit EV features a 20-kilowatt-hour (kWh) Lithium-Ion (Li-Ion) battery and a compact 92-kilowatt (123 horsepower) AC synchronous electric motor that generates 189 ft-lb of torque. This efficient powertrain is teamed to a chassis with a fully-independent suspension and a driver-selectable 3-mode drive system. The result is a fun-to-drive EV with an EPA combined city/highway estimated driving range rating of 82-miles1.

An onboard charger allows the vehicle to be plugged into any household-type 120-volt outlet (dedicated GFCI outlet recommended) or an available 240-volt AC power supply. When connected to a 240-volt circuit, the Fit EV battery can be recharged in less than three hours from a low charge indicator illumination point3. When connected to an outlet, charging can be started or stopped with an included Fit EV interactive remote control, through an available smartphone application or through the internet on a personal computer.

Available for lease-only in at Honda dealers in select California, Oregon, Massachusetts, Connecticut, Maryland, New Jersey, and New York markets, the Fit EV is offered at a lease price of $389 per month2 over a three-year term, computing to a Manufacturer's Suggested Retail Price (MSRP) of $36,625. A new, streamlined lease application for customers interested in leasing the Fit EV is now available at www.FitEV.Honda.com.

For more information about KBB.com's 10 Best Green Cars of 2013, please visit http://www.kbb.com/car-reviews-and-news/top-10/10-best-green-cars-2013/.

Honda Environmental Leadership
In addition to the Fit EV, Honda's diverse portfolio of alternative fuel vehicles has included numerous technologies to improve fuel efficiency and reduce CO2 emissions including the first EV leases in California (1997 Honda EV Plus), the retail introduction of America's first hybrid (1999 Honda Insight), delivery of the first fuel-cell electric vehicle in the U.S. (2002 Honda FCX), four generations of the Civic Natural Gas (first introduced in 1998) and the first gasoline-powered vehicles in the hands of consumers to meet stricter emissions standards. Honda has also led the Union of Concerned Scientists (UCS) rankings of overall vehicle environmental performance since 2000, and a Honda vehicle has topped the list of America's greenest vehicles, from the America Council for an Energy-Efficient Economy (ACEEE), for 15 consecutive years.

1.132/105/118 city/highway/combined miles per gallon of gasoline-equivalent (MPGe) rating; 82 mile combined (city/highway) driving range rating (adjusted). Ratings determined by U.S. EPA. Your MPGe and range will vary depending on driving conditions, how you drive and maintain your vehicle, battery age/condition, and other factors. For additional information about EPA ratings, visit http://www.fueleconomy.gov/feg/label/learn-more-electric-label.shtml.
2.Subject to limited availability through October 2014 in designated market regions on approved credit through American Honda Finance Corp. Closed end lease for 2013 Honda Fit EV for well-qualified lessees meeting specific use and operation requirements. Not all applicants will qualify. No purchase option at lease end. MSRP $37,415 (includes $790 destination). Excludes tax, title, license, registration, options and insurance. Zero capitalized cost reduction. Total monthly payments $14,004.00. Lessee responsible for non-routine maintenance, excessive wear/tear and up to $0.20/mi. over 12,000 mi./yr. Lease includes collision coverage, routine maintenance, roadside assistance and navigation system updates
3.From low-charge indicator illumination point to full charge