Electric vehicles aren’t selling as well as automakers had hoped. Interest seems to be waning, and the growth rate is slowing, forcing dealers to offer some impressive incentives to move the product. The Larry H. Miller Chrysler Dodge Ram Fiat dealership in Aurora, Colorado, is one such outfit, offering the 2024 Fiat 500e for $0 down and $0 a month for 27 months.
While the advertisement says $0 a month, the lease isn’t completely free. The fine print spells out the true cost. Lessees will still need to pay taxes and fees totaling $1,693—$1,297.68 in estimated taxes and a $350 disposition fee. That comes out to just $62.69 a month, with state and federal incentives and rebates covering the actual upfront costs of the lease that go to the dealer. The feds have $7,500 to offer, while Colorado adds another $5,000 to the pot to bring costs down.
In a sea of new EVs, the 500e is odd. It has a 42-kilowatt-hour battery offering up to 149 miles of range on a single charge, with its front-mounted single motor providing propulsion. It’s also not cheap if you decide to purchase outright, with a starting price of $34,095 (including the $1,595 destination charge) before any incentives. The hatchback's small size and limited range make it perfect for urban driving, but also limits its audience.
Fiat has been struggling to sell the EV since its launch, most recently having to pause production at its Mirafiori, Italy, factory where it builds the 500e. The pause started at the end of last month, and the automaker appears to have extended the shutdown another two weeks until January 20, according to a new Reuters report.
The lease deal ends December 31, and it’s only available to Colorado residents. Lessees will have the option to purchase the EV for $17,388 once the lease expires.
