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Monday, April 15, 2013

Fiat 500e Pricing Revealed!

You can purchase a Fiat 500e for as little as $20,500!* That's the price eligible California residents could drive a Fiat 500e off the lot for, taking into account federal credits, state incentives and Fiat rebates. For reference, that is about $200 less than a Fiat 500 Lounge! Fiat has also worked out a lease deal that will blow you away. You can lease a 500e for the same monthly payment as a $16,000 Fiat 500 Pop! That's $199 per month for 36 months.** But there is more, because this price doesn't include any municipal deals or the Clean Vehicle Rebate! Depending on where you live, you can drive home in a new Fiat 500e for as little as a $95 per month lease payment!

 Scenario 1    Scenario 2    Scenario 3  
 MSRP   $32,500   $32,500   $32,500
 Fed Tax Credit   - $6500   - $6500   - $6500
 Clean Vehicle Rebate         --   - $2500    - $2500
 City of Riverside Rebate          --        --    - $2500
 Featured Lease Payment      $199     $166       $95
 Due at signing     $999        0        0
 Term       36      36      36

Now factor in that the Fiat 500e costs roughly 3 cents per mile to drive compared to 20 cents per mile for a gasoline powered car that gets 20 mpg, and the 500e could easily pay for itself in savings.

                        Costs based on 10,000 miles per year
 Fiat 500e   18 mpg Vehicle   20 mpg Vehicle 
 Yearly Energy/Fuel Cost     $333        $2222        $2000
 Monthly Energy/Fuel Cost        $28         $185         $167
 Monthly Savings         ==         $157         $139
Fiat 500e costs based on EPA energy costs per mile.  Gasoline priced @ $4 per gallon

I based the above figures on 10,000 miles, but if you drive more - say 13,000 miles per year in your 18 mpg vehicle - you'll save $213 per month. Plus, compared to gasoline powered vehicles, there are no oil changes, tune up or engine filters so maintenance costs are minimal.

Road Trip Planned? No Problem!
One of the characteristics of owning an EV is that you do have to pay attention to how far you drive. Some call this Range Anxiety, but happily the EPA has rated the Fiat 500e as having the best-in-class range of all its competitors and better than all U.S.-market all-electric vehicles produced by high-volume manufacturers. To keep drivers informed, the Fiat 500e has a large 7-inch thin-film transistor (TFT) instrument cluster that displays vital EV information clearly and crisply. The 500e includes standard navigation that tells you where charging stations are located throughout the state and gives a graphic indication of how far you can drive based on your charge level. A smart phone app also ties you in, giving you the car's status and allows you to interact remotely when needed, such as setting or changing charging times or turning the heater on, etc.

However, even with all this, there may be times where you would like to make a long distance, multi-day road trip. Normally, this has been out of the question with for an EV owner up until now. Fiat has come up with an initiative that eliminates the concern by offering a special program called e-Pass. The program allows owners 12 day access every year to other vehicles via Enterprise Rent-A-Car.  Long trips, vacations or running down to the hardware store to pick up bulky objects are no longer an issue.  It is a brilliant way around range anxiety or the occasion when a larger car / mini-van would come in handy.  The e-Pass program comes standard on the Fiat 500e and is good for a three year period.

Great Price / Great Car
This is all good news, but is just the icing on the cake because the Fiat 500e is designed to be a great car first.  There is no downside to how this car drives, in fact, it takes the already updated NAFTA Fiat 500 and further enhances the driving experience.  It is quieter and has a more substantial feel due to the 10 percent stiffer chassis. The added weight of the battery helps dampen ride motions and the suspension, which has been retuned for the more even weight distribution, keeps the car nimble and fun to drive.

The Fiat 500e is very well equipped and is comparable to the loaded 500 Lounge model. The only options are colors, a sunroof and the e-Sport package. I'll have more on driving the Fiat 500e in a later post, but I will briefly tell you, if electric is the future, things are looking up!


* MSRP of the Fiat 500e is $32,500 before tax credits/rebates and incentives.  Vehicle is currently sold only in CA
** See your Fiat Studio for details, however, this is breaking news, so you may have to wait for further details.
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