Would you consider leasing a Fiat 500e for $199 per month?

People are not buying the Fiat 500e. Stellantis recently extended the suspension of production of its small electric vehicles and won’t start building them until November 1 due to slow demand. However, would now be the time to sign on the dotted line to lease a 500e in the US?

The 2024 500e can be leased for just $199 for 36 months, with $2,999 due at signing. Considering this upfront payment, this equates to an effective cost of $282 per month, with a mileage limit of 7,500 miles per year. This is significantly cheaper than a previous lease that required $4,259 at signing, plus a $319 monthly fee.

Read: Fiat still can’t sell the 500e, extends EV production halt

Cars Direct notes that this makes the 500e significantly cheaper to lease than the cheapest new car in America, the Nissan Versa.

While some may be tempted to take a risk and add the Fiat 500e to the garage, it’s important to note that the gorgeous EV only has two doors, and while it has rear seats, they are extraordinarily small. But if you’re looking for a cheap, stylish and cheap to run urban vehicle, it’s a tempting proposition.

This isn’t the cheapest lease we’ve seen for a new EV in the US this year. In March, Hyundai launched an incredible leasing deal for the Ioniq 6, which made it the cheapest new car to lease in the country. For a short period, it could be secured for just $239 per month for 24 months, with a measly $239 due at signing. Unfortunately, this deal is no longer available, but it’s possible that Hyundai will reduce Ioniq 6 lease prices next year as it prepares to launch the facelifted 2026 model.