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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 Apone on 5/28/2013 2:03:17 PM , Rating: 2
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?)?

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.

"Nowadays you can buy a CPU cheaper than the CPU fan." -- Unnamed AMD executive

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