With the first three-year leases of Honda Fit EVs now set to end in June, drivers of Honda's only electric car have been wondering what will happen to their cars now.
Many of them would like to hang onto the cars.
While Honda won't let them buy the car, the company has decided to offer those lessees an option for a further two-year lease.
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Honda announced this morning that it would offer two-year extension leases to current Fit EV lessees.
Honda Fit EV customer appreciation day, Honda Smart Home, UC-Davis, Mar 2015 [photo: George Betak]
For those owners who don't wish to renew, Honda will take back the cars--and offer them to new drivers on a two-year, used-car lease.
For both leases, the price is reduced to $199 per month, with no down payment.
As before, the mileage is unlimited, and Honda includes both routine maintenance and collision coverage in the new lease
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The new $199 monthly payment compares to the new-car number of $259 (which itself was reduced in May 2013 from $389 a month).
Honda also removed the previous mileage cap that same month; the improved terms resulted in a torrent of inquiries for the car, enabling Honda to lease almost the entire 1,100 it had announced would comprise the model run.
Honda first announced the new leases this weekend at a gathering of Fit EV owners at Honda's Smart Home in Davis, California.
“Most Fit EV drivers tell us they love their vehicles," said Steve Center, Honda's vice president of the environmental business development office, "and many have requested lease extensions."
MORE: 2014 Honda Fit EV: Model Year Ends Early As Last Cars Are Built (Feb 2014)
"This extended lease program is intended to meet their needs,” he continued, adding, “We’re very confident in how the vehicles are performing."
All in all, Honda leased 1,069 Fit EVs between July 2012 and December 2014. Those cars spanned two model years, 2013 and 2014, with little difference between the two.