I’m looking to buy a 2024 Fiat 500e (Inspired by Music) for my son. From what I have read about the car, I think it would be good for a first time driver. This is the car that I want.Not interested in a Mini-Cooper, Ionic, or anything else.
My question is: Would leasing the car, with the intent of eventual purchase, under the terms listed on the Fiat USA website lead to a discount with the $7,500 tax credit? Even if turns out that there is only a real $3,000-$1000 savings with the tax credit, that would be fine with me. Not getting the entire $7,500 isn’t an issue.
Or, do I not understand the leasing process? I think that you can lease to buy, with you ending up with the car that you leased and not swapped out with a different car of the same type, year, etc.
So, in short, my question is can I save a few grand by leasing to get the tax credit, when my intent is to buy all-along.
Thanks for any advice.
If that’s your intent. Buy it out immediately after lease. IMHO
6 posts were merged into an existing topic: Off-Topic Landfill 6
If it was like my 500e, you do NOT want to buy it. Lease and return.
You have a 2024 500e? What is the issue(s)?
It was a 2018 I believe.
- Tires were wearing on the outside (normal for a fiat),
- Range Really sucked
- Didn’t have push to start
- No one could really sit in the back unless you were under 10.
I don’t know what the 2024 fixed, but even if all that is fixed, an EV is not something you buy, you lease it. The value of the car will plummet and your purchase price could’ve gone much farther buying the same car used then a lease buyout.
From everything that I have seen, the 2024e is very well thought of in pretty much every area other than price. Range and back seat space are issues, but the price is what most reviewers focus on as the main drawback.
Leasing is what I’m leaning to, but I’m wondering if after leasing, would he want to keep it. In any case, I’m willing to spend the money to get what I want, but, I don’t want to spend anymore than I have to.
So, after the lease expires, do I have a chance to then get the car at a greatly diminished value, thereby saving a lot more money by then buying it?
Maybe, it’s up to FCA. Most don’t but this is a new world.
My Ariya has a 36k buyout in 2 years from now, but right now the TOL model is wholesaling for $22k…so maybe
Don’t buy it
Lease it and see what happens
The market on these will likely tank and who knows what will happen with Stellantis / Fiat in the future. Wouldn’t want to assume any of that risk by owning
I think you are right. I think the writing is already on the wall for the 2024’s. They are already phasing them out and going to hybrids.
If my kid likes it though, I’m just trying to figure out how to make the best of it financially if he wants to keep it. Leasing seems to be the best best right now.
There’s no way to win on these. The lease payments are atrocious. The net spend on a new one is atrocious because the resale value is so low and the used ones are worthless because they are so unreliable.
Honestly the best thing you can do here is help your kid make smarter decisions with their money
I’m sorry if I didn’t make this clear when I posed my question, but the resale value isn’t something that I worry about. I tend to keep cars for a long time, until major repairs start to become necessary.
I’m more concerned with paying as little as possible to get what I want. I’m not worried about the market value of the car in the near or not so near future, just figuring out how to get it for the least amount possible. I would most likely keep the car for a long time.
My kid likes the looks, and from everything I have read, it seems like the car has excellent handling and nimble. The instant torque is appealing to me because I think it could help with making the car quick enough to make turns onto road and get out there quickly, rather than a slower car that doesn’t have that torque and doesn’t respond as fast as you need it to when you do pull out onto the road from a turn, or whatever situation.
Anyways, thank you for anybody who took the time to help. I appreciate it very much.
Just found some additional information. If I can get $10,000 off, it is a done deal for me.
https://www.carsdirect.com/deals-articles/2024-fiat-500e-discount-exceeds-30-off-msrp
BTW there’s a Broker in CA leasing this for $99 with 3k
Search for 500 InspiRED
That would be a great deal, but too much work for me to make it work, unfortunately.