Honda Fit EV Lease Price Dropped, Free Insurance Added

#Honda, #EV

Leasing a Honda Fit EV is now much more affordable, as the automaker has not only dropped the monthly cost of leasing the electric hatchback, but also included free collision insurance. The new rates apply to new lessees, and also take effect for existing customers as of June.

Starting June 1, leasing a Honda Fit EV will cost just $259 per month for 36 months, down from $389 previously. There is no down payment, and the previous 12,000-mile annual mileage limit has been eliminated. Honda will also include a free 240-volt home charging station from Leviton, although customers must pay for installation; the charger was previously sold separately. In addition, Honda will provide collision insurance for the Fit EV -- drivers still need to provide their own liability insurance, but Honda will handle any collision damage and repairs for free, with no deductible.

The idea is to make leasing the Honda Fit EV more appealing to customers as it becomes available in more states. The electric hatchback was initially sold only in California and Oregon, but can now also be leased in Connecticut, Massachusetts, Maryland, New Jersey, New York, and Rhode Island.

Through the end of April, Honda has sold – or leased, rather – 68 copies of the Fit EV this year. Combined with sales of 93 units in 2012, that means Honda has moved only 161 Fit EV hatchbacks so far.

The Honda Fit EV replaces the car's standard 1.5-liter inline-four gas engine with a 92-kW electric motor and 20-kWh lithium-ion battery. According to the EPA, the car can drive 82 miles on a single battery charge.

Most other electric cars are offered with lease deals, but Honda's is the only one with no down payment, free insurance, and no mileage limit. The Chevrolet Spark EV will be offered at $199 a month for 36 months, with $999 down. The Fiat 500e will cost lessees $199 per month for 36 months, after a $999 down payment. And leases on the Nissan Leaf go for as little as $199 per month, after a $1999 down payment.

Source: Honda

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