2014 Cadillac ELR Lease Deal Announced, Early Buyers Get Free Home Charger

As an incentive to the first 2014 Cadillac ELR customers, Cadillac will provide a free 240-volt charging system and complimentary home installation. For those who prefer a leasing option to the ELR’s lofty $75,995 starting price, Cadillac also announced it is offering an ultra-low-mileage lease (which Cadillac says is about 12,540 miles per year) included with the same extended warranty for the lithium-ion battery.

The 2014 Cadillac ELR, powered by a 1.4-liter turbocharged four-cylinder engine and dual electric motors, can be charged via the fast-charging 240-volt home unit in about 4.5 hours. As an alternative, customers can also use a regular 120-volt electrical outlet to charge the ELR’s 16.5 kWh battery pack. The 2014 Cadillac ELR can travel approximately 38 miles on solely electric energy, and has a total range of 340 miles using hybrid power.

Cadillac also revealed that customers who want to lease the plug-in car for 39 months will pay $699 per month with $5,999 due at signing. Leased 2014 Cadillac ELR models will cost at minimum $33,260 over the lease period, according to these figures, compared to the vehicles $75,995 cost of outright ownership (including delivery). However, lessees are not eligible for the federal and state tax breaks that can take as much as $7500 off the cost of a new ELR. Buyers worried about the longevity of the battery technology can take solace in Cadillac’s eight-year, 100,000-mile propulsion warranty. The warranty comes with all ELR models, whether purchased outright or leased.

Although the 2014 Cadillac ELR shares its plug-in hybrid powertrain with the significantly more affordable Chevrolet Volt ($34,995 including delivery), the ELR comes with a long list of luxury features, sexier coupe styling, and almost 40 percent more horsepower. Furthermore, the ELR comes well-equipped in standard trim, with a short list of additional options compared to others in the luxury marketplace.

The 2014 Cadillac ELR is on sale now.