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Chevrolet Spark pricing gets official

Chevrolet has offered up the official pricing on its Spark EV -- the little vehicle will carry an MSRP of $27,495. Even though the outright purchase price for the Spark is $27,495, people who qualify for the $7,500 federal tax credit will be able to get that purchase price down to $19,995.
 
People interested in the Spark EV that live in certain areas of California could also qualify for up to an additional $2,500 off purchase price.
 
Chevrolet is also offering a very attractive lease option for the small electric vehicle that most people will probably choose. The lease option is for 36 months at $199 per month. That lease price puts the monthly out-of-pocket cost for the Spark on par with the Nissan Leaf and the Fiat 500e. The Spark lease does require a $999 down payment, which doesn't include tax, title, registration and other dealer fees.

The EPA estimates that the driving range for the vehicle on a full charge will be 82 miles. The vehicle also uses a SAE combo charger able to recharge the battery to 80% in only 20 min.

A regular, gasoline-engined Spark has an MSRP of $12,185 and get EPA estimated 32/38 mpg (city/highway).

"The Chevrolet Spark EV is the most efficient – and now one of the most affordable - EVs you can buy" said Chris Perry, vice president, Chevrolet Marketing. "Combined with outstanding infotainment and great design, the fun-to-drive Spark EV is engineered to impress."
 
The Spark EV will be offered through select Chevrolet dealers in California and Oregon beginning in June of 2013.

Source: Autoblog Green



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By Mint on 5/24/2013 2:00:42 PM , Rating: 2
quote:
perhaps this particular demographic might prefer a $14-$17k gas vehicle that can hit (or almost hit) 40+ MPG as an alternative until they can swing a higher monthly car payment.
When you add in gas costs, you're not going to be paying less per month for a $14k gas car.

A 30 MPG combined gas car will need $130 to go 1000 miles a month, while the Spark EV will need about $30. You're not going to be able to lease a $14k car for $99/month, and even if you finance it over 5 years you'll still pay less per month with the EV.
quote:
Oh, and that $199 lease payment is a disaster waiting to happen as I encountered so many lease owners who "swore" they would keep the miles in check but went way over
It's pretty hard to drive more than expected in an EV, IMO, because you're not going to take it on unexpected road trips.

Besides, $0.25/mile for overage really isn't that bad. You're paying $0.23/mile anyway if you drive exactly 12,000 miles/yr.


By Apone on 5/28/2013 2:03:17 PM , Rating: 2
quote:
A 30 MPG combined gas car will need $130 to go 1000 miles a month, while the Spark EV will need about $30. You're not going to be able to lease a $14k car for $99/month, and even if you finance it over 5 years you'll still pay less per month with the EV.


But isn't that how they get you? Sure gas would be $30 but assuming you don't lease @ $199/month, what would be the monthly car payment for $27,495? I crunched $491.49 per month (5yr loan @ 2.79% APR);

I'm not counting the $7500 federal tax credit as I'm still confused if that's an actual cash refund to you or just a $7500 credit during tax season (Even then, would it be $7500-taxes you owe = cash refund?)?

quote:
It's pretty hard to drive more than expected in an EV, IMO, because you're not going to take it on unexpected road trips.


That makes sense, but I have a few friends who own super-fuel efficient vehicles and they get adventurous planning distance drives between LA, San Diego, Vegas, etc. since the constraint of spending excessively on gas is greatly reduced with a fuel-efficient vehicle.


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