I’m a fan of little funky cars, so I was stoked when I learned that Fiat was bringing its new 500e to the United States. For a company whose only other offerings are leftover 2023 model year 500X crossovers, you’d think Fiat would lay down some good deals on the tiny new electric 500 to attract more buyers, but that’s far from reality. Most American consumers are looking for crossovers and SUVs, not subcompact microcars with a manufacturer-claimed 149-mile range, but that hasn’t deterred Fiat from charging out the nose for a 500e lease.
The 2024 Fiat 500e has a lease price of $414 for 36 months with a down payment of $3,819, including the first month’s payment. Spreading the entire cost of the lease across the 36 month term, that equates to an effective cost of $520 per month, or more than double the effective cost of the much larger, much longer range Hyundai Kona EV. The base Kona EV is rated at 200 miles of range, and is leasing for an effective cost of $242 per month.
This particular lease is for a 500e with an MSRP of $34,095, which makes its lease price an even worse deal, since that’s a comparable base price to the Kona EV, yet Fiat wants over double the amount of money. These numbers are based on reporting by CarsDirect, who said,
Even at $414 with $3,819 at signing, the FIAT’s effective cost comes out to $520 a month. Just for reference, the 2024 Tesla Model 3 Standard Range is listed at $299 with $3,993 at signing, or $410 a month. That’s a price difference of $110 per month, giving the Model 3 a great advantage despite an MSRP of $40,380.
As much as I love weird cars that are characterful and playful, I can’t consider recommending a Fiat 500e at these prices. The 500e’s maximum Fiat-claimed range of 149 miles is pitiful compared to most other EVs on the market, even for a small car. If finding the best price on a new car plays an important role in your new car buying or leasing decision, then avoid the adorable little Fiat. You will be much happier with something cheaper with a longer range, faster charging times, and more space like a Hyundai Kona EV or a Tesla Model 3.