The Ford Focus Electric is Now the Cheapest Car in America
The Ford Focus Electric is one of the most unloved models in North America right now, and its lonely existence translates into big savings for thrifty shoppers willing to make do with a less-capable EV. Ford cut $6,000 from the car’s price in 2015, and sales continued to fall despite a $4,000 price reduction the year before. You can also lease one right now for little more than a smile and a handshake.
Electric cars remain a difficult sell, especially considering there is always something better right around the corner, but leasing them is exceptionally popular — comprising roughly three-quarters of the EV market. It makes sense when lease-rate comparisons typically work out to EVs being more affordable than a similarly priced internal combustion vehicle.
Eligible for the $7,500 federal tax credit and $2,500 clean vehicle rebate in California, leftover 2016 Focus Electrics can be leased at $119 a month over a 36-month term with only $669 down. According to CarsDirect, this month saw an impressive swell of discounts up to $15,000. The resulting $50 per month drop and $1,330 less due at signing makes this the cheapest EV on market.
In fact, it’s the cheapest lease deal CarsDirect could find among 420 vehicles of all types.
Also unbelievably low is its 76 mile range. The 2016 Focus Electric is a technological dinosaur and, despite being slightly more fun to drive, it hasn’t aged any better than the 2016 Nissan’s Leaf. Nissan’s venerable EV can be scooped up for $199 a month and $1,999 down, or a little less if you remind dealers that it’s now the older uglier model with a tepid 84 mile range. (For 2017, Ford has bumped up the EV’s range to an even 100 miles.)
The 2016 Kia Soul EV is also priced slightly below dirt this month. California-specific EV models are set at $169 for 39 months after the buyer puts down $999.
Because federal, state, and local incentives are rolled into the price of a lease, along with any discounts applied by the manufacturer or dealer, a $30,000 dollar EV can be priced below a $16,000 gas burner. So, if you are in the market to lease and don’t need to grind through a lot of miles during your daily commute, electrics can be among the more affordable options — especially if you live on the West Coast.
[Image: Ford Motor Co.]
A staunch consumer advocate tracking industry trends and regulation. Before joining TTAC, Matt spent a decade working for marketing and research firms based in NYC. Clients included several of the world’s largest automakers, global tire brands, and aftermarket part suppliers. Dissatisfied with the corporate world and resentful of having to wear suits everyday, he pivoted to writing about cars. Since then, that man has become an ardent supporter of the right-to-repair movement, been interviewed on the auto industry by national radio broadcasts, driven more rental cars than anyone ever should, participated in amateur rallying events, and received the requisite minimum training as sanctioned by the SCCA. Handy with a wrench, Matt grew up surrounded by Detroit auto workers and managed to get a pizza delivery job before he was legally eligible. He later found himself driving box trucks through Manhattan, guaranteeing future sympathy for actual truckers. He continues to conduct research pertaining to the automotive sector as an independent contractor and has since moved back to his native Michigan, closer to where the cars are born. A contrarian, Matt claims to prefer understeer — stating that front and all-wheel drive vehicles cater best to his driving style.
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One of my coworkers has one of these and he's had nothing but trouble with it. . .
New Headline: Focus Electric in now the biggest money loser in America.