Low-cost Lease Launched for 2013 Honda Fit EV

It looks like a full-fledged pricing war has broken out in the electric-vehicle segment, where the 2013 Honda Fit EV is now competing with a new low-cost lease: Effective June 1, 2013, Honda will begin offering the car for $259 per month, with both unlimited mileage and no down payment.

Doing the math here, customers will save $130 each month as compared to the original lease terms of the 2013 Honda Fit EV, and current drivers can rest assured that their payments will be lowered accordingly. As a reminder, Honda isn’t selling the Fit EV outright, only leasing it, but for those who prefer going that route, the new cost schedule will make things a whole lot easier—and more in line with the pricing of the rest of the segment.

Looking solely at current lease deals as of May 30, 2013, the 2013 Honda Fit EV now slots in among its rivals as follows:

2013 Honda Fit EV—$0 down, unlimited mileage, $259 per month

2014 Chevy Spark EV—$999 down, 12,000 miles, $199 per month

2013 Nissan LEAF—$1,999 down, 12,000 miles, $199 per month

2013 Fiat 500e—$999 down, 12,000 miles, $199 per month

2013 Smart Electric Drive—$2,494 down, 30,000 miles, $199 per month

Then, the automaker also throws in a complimentary 240-volt home charging unit from Leviton (although installation is not included).

"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. "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."