This Is The Cheapest Electric Vehicle You Can Lease Right Now: FIAT 500e for $99/Month, $0 Down (California) (Expired)

Current lease program valid through January 4, 2016.

First things first: to qualify for this deal, you must be a current lessee of a non-FCA (Fiat Chrysler Automobiles) vehicle. If not, then the total cost of the lease will rise by $1,000.

The car in question, the 2016 FIAT 500e, has a retail price of $32,795. Aim for a selling price of $31,771 before incentives. There are California dealers on a popular car buying site promising that discount.

There are two incentives available from FIAT: $1,000 in Conquest Cash (for non-FCA owners only) and $7,500 in Lease Cash Allowance. There's also a $2,500 mail-in rebate from the State of California, which we assume you will front as a down payment.

After the incentives and the $895 acquisition fee, the net capitalized cost drops to $21,666. Chrysler Capital estimates the 500e is worth $18,037 (55% of MSRP) after 39 months of use at 10,000 miles per year. Therefore the total depreciation expense is $3,629, or $93 per month.

The money factor on the lease is .00016 (equivalent to 0.4% APR), which results in a monthly finance charge of $6. Total monthly payment? $99 per month.

Here's what you should expect when all is said and done. We've added in Los Angeles County sales tax (9%), license/registration, and fees. Program valid through January 4, 2016.

  
    Total Drive-Off
  
    First month's payment (after 9% tax)
    $108
  
    DMV license/registration
    $290
  
    Dealer document fee ($80 max. in CA)
    $80
  
    Capitalized cost reduction
    $2,500*
  
    Sales tax on incentives and capitalized cost reduction
    $997
  
    TOTAL DUE AT SIGNING
          $3,976

*You get this back through a $2,500 mail-in rebate from the California Air Resources Board.

In addition to the incentives listed above, residents of the San Joaquin Valley (e.g., Fresno, Bakersfield, Modesto, and Stockton) are eligible for a $3,000 Drive Clean! rebate, which effectively brings the cost down to $22 per month.

Customize your lease with the calculator below. You can adjust inputs such as selling price, incentives, and down payment.

MSRP:

Sales Price:

% off MSRP

Taxed Incentives:

e.g., cash-back offers, loyalty cash, bonus cash.

Untaxed Incentives:

e.g., manufacturer-to-dealer cash rebate or if you live in a state where customer cash rebates are not taxed.

Down Payment:

Acquisition Fee:

I want to pay my acquisition fee upfront.

Net Capitalized Cost:

Residual: %

( miles/yr)

Miles/yr:

Adjusting the miles changes the residual(%).

Money Factor:

APR: %

Months:

Monthly Payment (Excl. Tax):

Document Fee:

License/Registrat. Fee:

Sales Tax: %

Tax your state, county, and city levy.

Tax is levied on the monthly lease payment (most states).

Tax is levied on the sales price upfront (e.g. VA, TX, GA).

Tax is levied on the total lease payment upfront (e.g. NY, MN, OH).

Monthly Payment (incl. tax):

Drive Off:

First month's Payment incl. tax:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on cap reduction and fees:

First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the Sales Price:

First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the total lease payment:
Tax on cap reduction and fees:

Leasehackr Score:

The number of years it would take for the accumulated monthly payments to exceed the MSRP. The higher the number, the better it is to lease as opposed to buy.

Disposition Fee:

Total Lease Cost:

The total cost of leasing over the lease term, including applicable taxes but excluding registration/license fee and the refundable MSD payment.