This isn’t really travel related but I thought i’d share for people who live in CALIFORNIA!
I was browsing through Slickdeals and managed to find a post that stated a ridiculous lease offer for a brand new Fiat 500e Electric Vehicle. At first, I really didn’t want to believe it due to how low the price was but 3 hours later, I was driving off in a Fiat for theoretically $0 down and this is how I did it!
How it works:
- MUST LIVE IN CALIFORNIA
- MSRP: $32,600
- Tax, Title, Registration : $415
- Federal Eco Credit/Rebate: $7,500
- California Eco Credit/Rebate (In form of check later, Goes Toward Down Payment): $2,500
- Fiat Motor Credit/Rebate: $2,100
- Existing Lease Credit (Goes Towards Down Payment): $1,000
- Residual: $18,000
- Number of miles/year: 10,000
If you add these numbers up into THIS lease calculator, the number comes to $82-97.
Armed with this information, I went to my local Fiat dealership and presented the numbers. At first, the sales person was in total disbelief and merely stated that it was a mistake but upon further inspection, the manager came to me and let me know that it was indeed doable.
There really is no catch to this offer. If anything, you must put $2,500 down today and wait for the rebate to come back to you in the form of a check about a month later. In addition, Fiat is offering $1000 towards the car if you can prove that you’re currently leasing another vehicle from another brand. If you are not leasing another vehicle, I believe you can negotiate a reduction in price of $1000 but I don’t know for sure.
Fiat is a relatively new brand in the US and they’ve been trying to penetrate the market for a couple years now with their quirky looking vehicles. I admit, this car might not be pleasing to the eyes but it is actually a very fun car to drive! It is an all electric vehicle that gets a range of about 80 miles per charge. A charger is included in this offer and so is a portable TomTom GPS unit. Satellite radio is also included for 1 year at no charge. Read more about the car here!
Fiat’s website also lists a bunch of perks with having the car in California:
FREE METERED PARKING IN SAN JOSE+
Free parking at San Jose meters and regional park and recreation parking lots for battery electric vehicles, such as the FIAT® 500e, that have been issued a White Clean Air Vehicle Decal by the State of California.
FREE METERED PARKING IN SANTA MONICA+
100% electric vehicles, such as the FIAT® 500e, carrying the White Clean Air Decal may park at any meter in the city of Santa Monica for free. The time is limited to the time limit as posted.
FREE METERED PARKING IN HERMOSA BEACH+
Free metered parking at silver poled meters for vehicles with the White Clean Air Decal in downtown Hermosa Beach. Vehicles may park for the maximum time limit. This includes plug-in hybrids as long as the state of California recognizes the HOV sticker.
FREE EV PARKING AT SACRAMENTO PARKING LOTS+
Electric vehicles that are owned or leased by individuals or small business certified by the city, Emerging Small Business Development, such as the FIAT® 500e, are eligible for free parking and recharging in designated parking facilities.
FREE EV CHARGING AT LAX+
Free EV charging is available for electric vehicles, such as the FIAT® 500e, at charging stations located in the lower/arrivals level of Parking Structures 1 and 6 for up to a maximum of 30 days per visit.
DECAL FOR HIGH-OCCUPANCY VEHICLE (HOV) LANE EXEMPTION+
The 2015 500e is eligible to travel in the HOV lanes designated for High Occupancy Vehicles in California.
I wouldn’t have gone for this offer unless I thought it was a really good one. At the end of the day, I was able to negotiate a great lease offer of less than $90/month with theoretically $0 down. Not to mention, they took credit card so I met some minimum spending along the way!
As this offer is only available in California, it isn’t for everyone. The car itself should be used as a secondary car, not a primary one. If you work within 20-25 miles of your home, this car is great! Any farther and you might be exhausting the range. The included charger plugs into your wall and can take hours to charge but there are pretty cool alternatives like charging faster at the mall or signing up for a membership that enables you to go to high voltage chargepoints around you. The biggest cost here will probably not be the car itself but the insurance that you have to purchase as well. As this vehicle is leased, you MUST get full coverage insurance and that can raise rates quite a bit. My advice is to call your insurance company first and find out how much extra it will be to add this vehicle to your policy.
Are you going to go for this deal? Why or why not?
H/T to Slickdeals