Honda Offers Two-Year Fit EV Lease Extension At $199 Per Month

MAR 23 2015 BY ERIC LOVEDAY 16

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Honda Fit EV

Current Honda Fit EV lessees, as well as though who lease used turn ins will be surprised by Honda’s just announced monthly lease deal.

Here are the details:

  • Two-year Fit EV lease extension offered to existing lessees
  • New, two-year used Fit EV lease offered to prospective customers
  • Price reduced to $199 a month; no down payment and unlimited mileage, routine maintenance and collision coverage included

And the fine print:

1 Subject to limited availability in designated market regions on approved credit through American Honda Finance Corp. Closed end lease for used 2013 or 2014 Honda Fit EV for well-qualified lessees. Not all applicants will qualify. No purchase option at lease end. Original MSRP $37,415 (includes destination). Total monthly payments $4,776.00. Excludes tax, title, license, registration, options and insurance. Zero capitalized cost reduction. Lessee responsible for non-routine maintenance, excessive wear/damage. Lease includes collision coverage, routine maintenance, roadside assistance and navigation system updates.

2014 Honda Fit EV Interior

2014 Honda Fit EV Interior

At just $199 per month with unlimited mileage, collision coverage included and routine maintenance provided free of charge, the Fit EV becomes a raging deal.

We’re thinking that most current Fit EV lessees will opt for the two-year extension, so finding one used might be difficult. But if you locate one, then we suggest you seriously consider leasing it for this remarkable price.

Press release below:

Honda Introduces New Lease Options for Existing and Prospective Fit EV Lessees

  • Two-year Fit EV lease extension offered to existing lessees
  • New, two-year used Fit EV lease offered to prospective customers
  • Price reduced to $199 a month; no down payment and unlimited mileage, routine maintenance and collision coverage included

Mar 23, 2015 – TORRANCE, Calif.

 

Honda is extending the reach of its efficient and fun-to-drive all-electric Fit EV (http://automobiles.honda.com/fit-ev/) through new lease programs for both existing and prospective Fit EV customers. For current, eligible Fit EV customers, Honda is offering a two-year lease extension that includes a lower $199 monthly payment1 (previously $259) and extends the unlimited mileage, routine maintenance and collision coverage1 that were included in the original lease. The reduced lease price and matching two-year terms1 will also be available to new customers interested in driving a used Honda Fit EV. Honda shared the news to a group of Fit EV drivers at an event hosted at the Honda Smart Home US (http://www.hondasmarthome.com/) in Davis, CA on Saturday, March 21.

“Most Fit EV drivers tell us they love their vehicles, and many have requested lease extensions and this extended lease program is intended to meet their needs,” said Steve Center, vice president of the Environmental Business Development Office, American Honda Motor Co., Inc. “We’re very confident in how the vehicles are performing, and look forward to offering new and existing customers a chance to experience everything the Fit EV has to offer.”

The Honda Fit EV is among the most efficient 5-passenger electric vehicles on the market with a combined adjusted Environmental Protection Agency (EPA) mile-per-gallon-equivalency rating of 118 MPGe2, an EPA-rated driving range of 82 miles2, and a super-efficient energy-consumption rating of 29 kilowatt hours (kWh) per 100 miles. When connected to a 240-volt circuit, the Fit EV battery can be recharged in less than three hours3.

Lessees will be contacted by Honda prior to lease end for additional details about lease extensions. Fit EV customers also can take advantage of Honda’s partnership with SolarCity (http://www.hondasolarcity.com/) to install solar power with no upfront cost, allowing them to recharge their vehicle with clean, affordable power from the sun.

Honda Environmental Leadership
Based on its vision of “Blue Skies for our Children,” Honda is taking a comprehensive approach to reducing the environmental impact of its products, advancing fuel efficiency, low emissions and fun-to-drive performance with new powertrain technologies from its Earth Dreams Technology™ lineup, which includes more fuel-efficient engines and transmissions and advanced electromotive technologies. Honda will offer several next-generation, advanced powertrain vehicles, including a new battery-electric model and plug-in hybrid model by 2018 and plans further application of its two- and three-motor hybrid systems in the years to come. Together, these vehicles will offer significant sales volume, enabling Honda to bring ultra-low carbon transportation to consumers in the U.S.

Honda is also demonstrating its vision for zero-carbon mobility and living with the creation of the Honda Smart Home US, in Davis, California, which was opened in early 2014 and is capable of producing more energy on-site from renewable sources than it consumes annually, including enough energy to power a Honda Fit EV for daily commuting.

1 Subject to limited availability in designated market regions on approved credit through American Honda Finance Corp. Closed end lease for used 2013 or 2014 Honda Fit EV for well-qualified lessees. Not all applicants will qualify. No purchase option at lease end. Original MSRP $37,415 (includes destination). Total monthly payments $4,776.00. Excludes tax, title, license, registration, options and insurance. Zero capitalized cost reduction. Lessee responsible for non-routine maintenance, excessive wear/damage. Lease includes collision coverage, routine maintenance, roadside assistance and navigation system updates.

2 132/105/118 city/highway/combined miles per gallon of gasoline-equivalent (MPGe) rating; 82 mile combined (city/highway) driving range rating (adjusted). Ratings determined by U.S. EPA. Your MPGe and range will vary depending on driving conditions, how you drive and maintain your vehicle, battery age/condition, and other factors. For additional information about EPA ratings, visit http://www.fueleconomy.gov/feg/label/learn-more-electric-label.shtml.

3 From low-charge indicator illumination point to full charge.

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16 Comments on "Honda Offers Two-Year Fit EV Lease Extension At $199 Per Month"

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It’s a good car, but it competes with 2013 models, not 2015/6 models. (no DCFC, ancient NAV, etc.) Would you pay $199/mo to (re-)lease a used 2013 Leaf w unltd miles and collision? Maybe – but you might not believe you won the lottery.

Also compared to the $90/month lease deal group buyers recently got on a brand new Fiat 500e everything looks like a poor deal.

Too much subsidies will spoil the market.

Unlimited mileage and Collison insurance included is a substantial incentive.

Yeah, I was going to say that this isn’t such a good deal but then again, it does come with insurance . . . so . . .

Honda needs a little more time to prepare all the crushers for these wonderful cars…

I still think they need to strike a deal with the USPS to use these in moderate US climates for urban delivery fleets. 😉

Not that I have anyone’s ear over at Honda… or the USPS for that matter!

Are re-leases count toward compliance?

They should not. Sales are counted once. Leases, would allow for car manufacturers to spend given $$$ on those cars, and reuse them again and again and again!!!

Also:
I love ICE Fit compared to other ICEs. Fit EV thus is big disappointment for me! (Why can’t I buy one??? 😛 )

I’ve been saying for some time that car companies would feel forced to do something about all the EVs coming off lease, either in terms of extension deals like this one on the Fit EV or an additional discount if you want to buy the car.

By extending the lease on my 2013 Leaf I’ve got almost exactly this deal, in terms of monthly payment (bot not the insurance), for the next 6 months, 12 if I decide to extend a second time. So while I don’t consider it the bargain of the century, it’s still a better option for me right now, while I wait to see what various companies are doing, e.g. will the Soul EV make it to Western/Central NY State.

I don’t know if Nissan could offer me a big enough discount to buy my leased Leaf, though. I love the car, but with the EV Singularity coming in almost exactly 2 years, it would have to be one heck of a deal, very likely more of a price cut than Nissan would be willing to offer.

🙂 ” … with the EV Singularity coming in almost exactly 2 years.”

I assume you mean the Model 3 / Chevy Bolt convergence?

I look forward to that too, but I won’t be surprised if it’s a lot less dramatic because the price/availability of these EVs will dampen demand a bit. But for the relatively well-off EV fanatics, it sure will be exciting!

This is interesting news, though I must admit that I missed the word ‘used’ in “new, two-year _used_ Fit EV lease offered to prospective customers” on first reading.

Will this be limited to California, Oregon,Massachusetts, Connecticut, Maryland, New York, and New Jersey like the new Fit EVs were?

Just to clarify – the $199 is an EXTENSION to an existing lease. If you “Re-lease” a used Fit EV (there are currently some available), you will pay the current $259/month for a two year lease. This will include a Levition EVSE (yours to keep after the lease), unlimited miles, maintenance, comp & collision (with $0 deductible). After the 2 years, you MAY be offered a 2 year extension for $199/month.
And yes, this is still CARB States only.

From the press release: For current, eligible Fit EV customers, Honda is offering a two-year lease extension that includes a lower $199 monthly payment1 (previously $259) and extends the unlimited mileage, routine maintenance and collision coverage1 that were included in the original lease.

_The reduced lease price and matching two-year terms1 will also be available to new customers interested in driving a used Honda Fit EV._

Incorrect – I just began a 2 yr lease on a used Fit EV yesterday for $199/mo. Had to go to NJ and drive back to CT which sucked terribly with NO QC PORT!

The only thing that was vague is the charger – it isn’t mentioned in the press release whether the new leases would include one, but I am assuming it will come with the car. The dealer supposedly submitted the paperwork so time will tell…

Translation – Honda has no serious CARB compliant vehicle coming out for another 2 years. This is them treading water.

We have a Fit EV and consider this great news. We were at the customer appreciation gala Saturday at Davis, CA and got the news there. For us, it is great news. The major draw of the lease is the unlimited miles and the fact that it is a great car. It now extends the lease until the Model III is released or until Honda’s BEV equivalent is released in 2018.
The focus groups were quite interesting, at least the one I was in was. To a person 200 mile range in any weather and DC fast charging were considered essential. I thought that the body style desired was interesting as well. Everyone wanted either a small SUV or Mini-Van. Not a single sedan model in the group.

I’ve said for a long time that Honda would clean up the market segment with a Plug-In Odyssey. Just take the Accord Hybrid FWD drivetrain and add a 80kW motor to the rear axle. Fill the mid-vehicle storage compartment with batteries and you’re done. Of course, they would have to line up a real battery supplier, but they should have done that a long time ago.