Electric cars cheaper than smartphones?

So it seems...

We've heard of cheap lease deals on the Fiat 500e in the past, but now AutoWeek is making a connection between leasing the 500e and leasing a smartphone. As AutoWeek explains:

In Southern California, it can be cheaper to lease a Fiat 500e for three years than to lease a working smartphone.

Earlier Fiat 500e Lease Deal

Earlier Fiat 500e Lease Deal

The lease AutoWeek is referring to is a "$69 per month for a 36-month lease, with no money down" deal. AutoWeek says that smartphones often cost more per month to lease. of course, smartphones are much cheaper to buy outright than a 500e, but that's not really the point of the article.

There's one other point of interest from the AutoWeek lease deal write up. According to AutoWeek, the 500e has an inflated residual of some $19,977 at the end of the 36-month lease. That inflated residual is what drives down the monthly price. However, Fiat 500es coming off lease typically sell at auction in the mid  $4,000 range. Something to ponder. That's for sure.

Source: AutoWeek

Got a tip for us? Email: tips@insideevs.com