Fiat’s new 500e (Source: Stellantis)

One dealership in Colorado, Larry H. Miller Chrysler/Dodge/Ram/FIAT Denver, is now offering a 27-month lease for $0/month and $0 down, making the car basically free… well, before taxes. Including taxes, you’ll have to pay a $1,297.68 down payment, but the $0/month fee carries through the whole lease term from there. At the end of the lease, you’re responsible for a $395 disposition fee, making the total cost just under $1,700 for the 27 month lease. That’s under $63/month, on average.

The dealership is able to offer this low price due to government incentives, which are excellent in the state of Colorado (which, like California, also has strict emissions rules that Fiat wants to gain compliance with). Not only does the car benefit from the $7,500 federal tax credit, but Colorado also has a state credit of $7,500 on cars under $35k MSRP, which the 500e qualifies for (it’s $5k on cars >$35k). These credits are retained by the dealer, and used to lower the lease price.

This all means a car with a $32.5k base price can have pretty much the entire cost of the lease covered by incentives, except for taxes. Fiat calculates the residual value of the car will be $17,388.45 at the end of the lease term, at which point customers can purchase it for that amount if they like.

There’s still limited mileage of 10,000 miles per year, after which you pay .30/mile. But the 500e is still very much focused on being a city car, with its small size, 42kWh battery, and around 140-150 miles of range. So for drivers who want a right-sized car to get around town instead of a ridiculous land yacht, it could be quite a good option.