Sanity Check - Fiat 2024 500e Lease Crazy High

Ask the Hackrs Buy/Finance
,
1

Hi everyone,

Just got back from the Fiat dealership and test drove the new 500e. Car felt great, I really liked for what it is despite the msrp being inflated some. When I asked about leasing I was floored by the rates…

Example:
$35,000 msrp
$7,500 rebate
$3500 down
36 months
10,000 miles
$16,000 residual value

Monthly payment: $591

I do not fully understand how a lease on such a vehicle, including the $7500 rebate, can be so high. I asked the sales person what the money factor was; he again in the back office and came out with 0.0069 (or something to that effect) which is ~16%.

Is there any way to lower the MF? Or to even negotiate any of this?

Thanks you for your time

image
image689×919 122 KB

2

RV is low and non-negotiable. no dealer discount. move on

3

Just get a Niro EV or MINI SE instead

5 Likes
4

Atrocious RV, marked up MF… poor value for the $. At those dollars, you’re rolling in a MB EQ.
There are also no programs supporting it… I’d move on.

5

These numbers are atrocious. That MF is marked up enough to get these guys a new boat. Go check out Mercs

6

You cant force a vehicle to lease well, nothing can be done when buy rate is 0.00588 and 47% residual

I have Niro EV and Ioniq5 that are very low this month

2 Likes
7

If you wait 6 months these will be piled up on the lots and have $15000 in rebates and only a 9% mf.

2 Likes
8

This lease would have you spend $24,000 to drive a $35,000 car for 3 years. Does that sound like a good plan?

This is a case where if you really want the car, buy it instead of leasing it.

9

Sick Cabin Crew GIF by Balaji Motion Pictures

10

Current 2024 Mini SE has $10.9k credit, new model 2025 starts arriving, while the LH calc for mini se lease deal is not that good, it’s still a lot cheaper than that fiat.

11

Ha! I appreciate everyone’s reaction; this whole thing is asinine and I’m still in shock at this circumstance. And semi bummed about it…

Sadly there just are not too many small EVs around and the 500e was first to come out. We’re still waiting to see how the Volvo EX30 shakes out. And sadly we’ve been heavily considering even the Model 3 refresh.

Basically we’ll need to get a car (or 2) starting now until the end of the year and want to get something nicer, preferably 1 being an EV.

Our top contenders were:

  • Fiat 500e
  • Volvo EX30
  • Model 3 refresh (probably with the FSD)
  • Volvo XC40
  • BMW X1
  • something else that interesting and nice
  • Rivian R2*
12

You’re dealing with one of the most greedy dealerships. They don’t budge. Find yourself another one.

13

The Ioniq5 is “small” by American standards, have you considered looking at one of those? The Niro/Kona is even smaller.

I don’t know your parking situation, but maybe give Carsized a try to check the vehicle dimensions. Some might be smaller than you think.

1 Like
14

I will put GV60 n EQB on that list. Btw, if you’re interested on fiat 500e, why don’t you consider mini se?

15

Some of these don’t exist and even when they come out, don’t expect any good deals when they’re still novel

Some of these like the Fiat and the bmw X1 are atrocious, and the X1 is huge in comparison. So your short list gets decimated quickly if you value money at all and/or want something genuinely small.

MINI, Kona, Niro, Lexus RZ and GV60 should be on your next short list depending on budget and size requirements.

16

If you’re willing to consider a Model 3, why not an Ioniq 5? They’re pretty similar in size.

1 Like
17

Oh dang, are the X1s not great?

18

Sigh - I do not how they look any more. Used to be a big fan. The model 3 we’re considering because of the FSD which has been pretty sweet driving with my friend from work around the last month or so

19

All fair points up above - def looking into the Mini SE now, GV60 and the Lexus RZ

20

If you can wait, I guarantee there will be more favorable lease support for these in the future. They just arrived to US dealerships, so it makes sense that the numbers will be unfavorable for a period while Stellantis sells the first cars to the buyers who need to have one at any price. The 500e is a car that has a limited audience, however, so once those initial buyers purchase their cars, Fiat will need to be more competitive on price with other EVs.

I am waiting for deals myself and will lease one if the right deal comes along. I leased a first-generation 500e and loved my time with that car.