• There’s a screaming lease deal for the 2024 Fiat 500e.
• Thanks to federal and state incentives, Colorado residents can get the brand-new city EV for $0 per month.

The Fiat 500e is a decent electric city car, but it has one big downside: its price tag. For about $34,000, you only get 141 miles of range, two doors and four seats, which isn’t exactly enticing when the Chevrolet Equinox EV exists. It’s bigger, has more range and costs about the same when you factor in the $7,500 tax credit.

However, there’s a lease deal for the Fiat 500e out there that beats just about everything on the market, simply because it’s free–with an asterisk.

Thanks to tax credits, you can lease the Italian electric supermini with $0 down and $0 per month. If you live in Colorado. And have a credit score above 700. And you also need to consider the sales tax and insurance, but that’s also valid for any other lease out there, so no surprise here.

There’s also just one dealer in Colorado that has this offer, as far as we know, which is even more restrictive for those wanting to get behind the wheel of a brand-new EV for very little money. That said, the maths behind the deal is pretty simple.

When leasing, any new EV is eligible for the $7,500 federal tax credit. On top of that, the state of Colorado offers an additional $5,000 for new EVs, which brings the incentive total to $12,500. That’s what the dealer is getting, leaving the customer to pay the sales taxes, registration fee and comprehensive insurance.

The Colorado dealer that came up with the $0 lease only has the base Fiat 500e in stock, which comes with automatic air conditioning, Apple CarPlay and Android Auto, but not much more. The retail price of the car is $34,095 excluding the destination charge. The lease contract is for 27 months and 20,000 miles.

Another added benefit of this deal is customers get a free Level 2 charger or $600 in charging credits. If lessees want to end the lease early, there’s a $395 disposition fee, but that’s about it.

It’s a screaming deal. Yes, the car is not exactly record-breaking by any stretch of the imagination, but for this kind of money, it can be a great little commuter. It’s also worth mentioning that the $7,500 federal tax credit might be going away next year, so keep that in mind if you’re looking for a new EV.