Home / Auto News / News article: 2014 Smart ForTwo EV Available for Just $139/Month - AutoGuide.com News
 |  Aug 06 2013, 8:31 PM

smart-fortwo-ev

Buyers interested in a small electric car have just been handed down some good news from smart; the new fortwo EV can now be leased for just $139 a month.

Of course there are a few caveats to this 15,000-mile, 36-month deal; drivers are required to shell out $1,999 as a down payment. Additionally they can only get the fortwo hardtop for that price, as the convertible is slightly more expensive. Still, the 139 bucks includes an innovative new feature the company is calling Battery Assurance Plus, which costs $80 per month, a fee that’s included in the lease price. Confused yet? Just wait, there’s more.

But first, what is Battery Assurance Plus? Boiling it all down like delicious maple syrup customers basically end up renting the lithium-ion lump from Daimler. They get free battery maintenance checks and a 10-year replacement guarantee that unlike other companies’ warranties covers both defects and capacity, so as the unit ages and loses its ability to hold a charge the company will replace it when it reaches a certain threshold. As an added bonus the plan is fully transferable and covers the pack for unlimited miles.

If drivers want to lease a smart Electric Drive and skip the battery plan the payment jumps to $400 per month or more; resale value has something to do with the hike. Also, when you opt to lease one of the cars with the assurance plan Daimler absorbs any federal tax incentives for eco-friendly vehicles, which is why the price is so attractive.

If a customer wants to purchase one outright they can cut a check for $25,750, including destination and delivery for a smart Electric Drive ($28,750 for the convertible) and skip the battery-protection plan. If they opt for BAP the price drops by more than five grand. Additionally, dealers can apply a special rebate to the car to lower the price even further; Daimler calls it “market support,” and it can reduce the electric smart’s sticker by another two grand, bringing the total to around $18,000. If a customer decides to purchase one they have to apply for any federal tax incentives. Who would have thought a small car could be so confusing?

Aside from the lower lease payment there’s another benefit to Battery Assurance Plus. According to a company representative the cell costs more than $22,000! It would be a total nightmare to replace out of warranty.

This small city car is powered by an electric motor that makes 96 lb-ft of torque and 74 hp at its peak. That makes it capable of a top speed of 78 mph and a 0-60 mph run in 11.5 seconds.

Using a 240V charger, a full charge will take about six hours to accrue, while 14 hours is needed for a full charge from a 120V outlet.

 Discuss this story at smartcarofamerica.com

  • timothyhood

    Since when does not purchasing an item add to its cost? It has nothing to do with resale value and everything to do with marketing. This is further explained by the purchase pricing: not taking the battery protection plan costs more. The battery protection plan is basically insurance. Insurance (in any normal market) adds a cost to a product, not a savings. Granted, one would have to be a fool not to take the insurance and the discount, but let’s not get lost in our naiveté here.

  • Gramps

    It has to do 100 per cent with resale value! Who in his right mind is going to buy one without the warranty & the guarantee that you’ll need to spend $22,000 out of your own pocket, for a battery at some point?

  • timothyhood

    But smart is carrying the lease and they are also carrying the cost of the warranty. The warranty simply cannot be free or less than free. Therefore, they are subsidizing the true cost of the warranty with marketing. If it wasn’t marketing, they would just provide the one lease amount with the warranty included. What is the point of providing a higher lease amount without a warranty?