When we heard Fiat announce the $199 lease price for the all-electric 500e, we figured it would have a big effect on the electric vehicle market. After all, $200 a month for an EV makes a lot of sense for a lot of commuters. The next EV to get a price tag was the 2014 Chevy Spark EV, which ended up with most of the same numbers ($199/month, $999 down, 36 months, 12,000 annual mile limit) but you have to pay $0.25 a mile for each one over 12,000 a year. Now we have the latest reaction: the Honda Fit EV, and it stacks up well. Finally.

The all-electric Honda Fit originally had a three-year lease for $389 a month with $389 due up front, and was limited to 12,000 miles a year. Today, that number drops way down with the announcement that the new cost is just $259 with no down payment. That's more per month than the competition's $199, you might be saying, but the Fit EV comes with a free Leviton 240-volt charger (you still have to pay for installation) and unlimited mileage. Also, $259 a month gets you scheduled maintenance and collision coverage with your Fit EV, too. Honda's Jessica Fini told AutoblogGreen, "All these new additions effectively make the Fit EV one of the most affordable EVs on the market," and it's hard to argue against that. You can see the math yourself here.

If you already have a Fit EV and have been paying $389 a month, you'll be happy to know the new lease payment will apply to current customers going forward. The Fit EV is rated at 118 MPGe and has an 82-mile range. You can read our review of the car here. Honda will be increasing the number of Fit EV dealers in the states where the car is available – California, Oregon, New York, New Jersey, Massachusetts, Maryland, Rhode Island and Connecticut – from 36 to more than 200 by the end of June. This is a good sign that the company may one day stop treating the Fit EV like a California compliance car, but for now we still have 42 states to go.

Honda Fit EV lease comparison chart
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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
TORRANCE, Calif., May 30, 2013 – 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/.

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.


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