Mitsubishi i EV Lease Offered For Just $69 A Month


It has become readily apparent to automakers that consumers aren’t willing to pay much of a premium for pure electric vehicles. This has led to cost-cutting across the board, though an Illinois Mitsubishi dealer has undercut everybody with a $69-per-month lease deal on the Mitsubishi i electric vehicle. How is that even possible?

As is usually the case, the devil is in the details. O’Brien Mitsubishi in Normal, Illinois, is offering a 24-month lease program that costs just $69 per month. However, once you add in tax, title, and registration, you’ve got to plunk down an additional $2,100 to drive the Mitsubishi i off the dealer lot. For those who would rather put no money down, O’Brien also offers a $169 a month lease for 24 months, which is still substantially cheaper than Mitsubishi’s official lease offer of $249 per month for 36 months.

If you recall, Normal, Illinois is where Mitsubishi launched its all-electric i in an effort to drum up excitement for what was the cheapest EV on the market. Unfortunately, the Mitsubishi i was the worst-selling vehicle in the U.S. last year, with less than 600 models finding homes in 2012. Having driven the Mitsubishi i ourselves, it is easy to see why. The official EPA rating gives the i just 62 miles of driving range, and even fully equipped, the Mitsubishi i feels cheap; leather seats aren’t even an option!

The only appealing thing about the Mitsubishi i is its low price, starting at $27,990, and even that won’t last. The Nissan Leaf received a $6,400 price cut last week, putting it on par with the Mitsubishi i’s price, and the Smart ForTwo Electric Drive is said to have a starting MSRP of $25,000 before tax incentives. Even the upcoming Chevy Spark EV will be price competitive with the Mitsubishi i. In other words, the only way to sell the Mitsubishi i is to practically give it away. Even then, the Mitsubishi’s one advantage won’t last much longer…and if sales continue to be terrible, neither will this EV.

Source: Green Car Reports

About the Author

A writer and gearhead who loves all things automotive, from hybrids to HEMIs, can be found wrenching or writing- or else, he's running, because he's one of those crazy people who gets enjoyment from running insane distances.
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  • I still don’t get the 100% electric vehicle that costs $10,000 more than a prius c that’s electric AND has a gas engine – so you won’t get stranded…

    Until they sell an electric vehicle for half the price of a hybrid (or one that travels the same distance as a regular car – with a full tank of gas) I dought people will buy them… Plus, battery replacement is expensive right? So the older the car gets, the less people will want to buy it used… I just don’t get it!

  • Vic C

    You’re right, you don’t get it.

    Years of evidence indicates battery replacement is not an issue in a well-designed system. A few cells look bad, out of over a hundred. Teslas can automatically cut off and flag a bad cell, and the driver notices nothing. Everyone else except Nissan agreed the pack needs liquid cooling; Nissan is paying the price for their short-sightedness.

    Speaking of short-sightedness, you, like most consumers in this country, don’t get TCO. Per-mile costs are a fraction of gassers (based on driver reports from the field); maintenance is a third (again, from actual user experience). Hybrid costs may actually be higher than average, from having two complete drive systems.

    Even with old cars, a pack which is below par for road use can be sold for stationary applications. GM and Tesla have both begun trials with end-of-“life” batteries put to productive use as grid levelers, for emergency backups and peak shaving.

    Oh, and this is all besides instant, high torque and quiet operation. Without shift gaps. And better handling too, for the Honda and Tesla. Right?

  • Soon enough, air lithium batteries or something even more sophisticated from Asian intelligentsia (some 1000 x times larger than ours) and more efficient Solar cells, Wind Turbines, even high efficiency motors already available in Japan, lighter, cheaper hemp bodies, (See Lotus, University of Alberta) and a change in attitude by Americans no longer willing to do the long distance burning bottom, white knuckled drives as the much cheaper, faster Asian electric bullet trains are introduced?
    Gasoline prices to be driven by bids in Yuan higher than U.S. peons can afford? Remember: They have the numbers to bid even oil and gasoline out of our reach, especially against the U.S. Dollar that the Feds weaken by massive printing every day.
    The day of the three moving part power train and replicable, practically priced batteries is almost here. The paradigm shift, away from oil intensive jet flights is here now, America’s laughing stock attempts at high speed trains to be supplanted by Japanese, Chinese, and European examples and technologies inevitably.
    Americans can no longer demand over 70% of the world’s resources. The new Pan Eurasian Reality competes with us and wins far too often, signalling an extraordinary downsizing for America and American peons. They simply cannot earn enough to live their current lifestyles.
    We crammed ourselves into the small Asian 4 bangers, and will adapt to the electric bullet trains as well. We will let go of our past and seek a new 21st century sustainable lifestyle and move on from there. No choices!

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