How France Is Bringing EVs To Low-Income Homes With Monthly Leases From €54

The three-year lease comes without a down payment, making it an exceptional deal for driving an EV if you reside in France and meet the eligibility requirements

December 16, 2023 at 06:01

 How France Is Bringing EVs To Low-Income Homes With Monthly Leases From €54

The new Citroen e-C3, one of the cheapest electric sub-compact models in Europe, has just slid into even sweeter territory for low-income customers in France. Thanks to the government-backed “social leasing” initiative, aimed at giving low-income families a taste of electric mobility, the e-C3 can be had for as little as €54 ($59) per month, locking in a three-year contract without the need of a down payment.

The 2024 Citroen e-C3 was introduced in October with a single electric motor producing 111 hp (83 kW / 113 PS) and a 44 kWh LFP battery offering a range of 320 km (199 miles). The French supermini has an advertised starting price of €23,300 ($25,428), although Citroen will be launching an even cheaper version in 2025 with a shorter range of 200 km (124 miles) and a €19,990 ($21,813) price tag. Interestingly, the special lease offer is for the longer-range version as it will be available from January 1st, 2024.

It’s just one of 8 Stellantis brand models that qualify

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 How France Is Bringing EVs To Low-Income Homes With Monthly Leases From €54

The Citroen e-C3 is one of the eight Stellantis models included in France’s “social leasing” program, as listed below. According to L’argus, some of the prices, specifically for the Opel Mokka Electric, Opel Corsa Electric, and Citroen e-C4, include the cost of the home charger, but not the installation fee.

Stellantis has also confirmed that a small electric model from Fiat will join the program at the end of 2024. This is likely to be the upcoming Fiat Panda EV, which will be a sibling to the Citroen e-C3 and is expected to be offered at a similar price point. Additionally, a selection of used cars newer than 42 months old will be available for lease as more affordable alternatives.

The only EV from a non-Stellantis brand confirmed to participate in the program is the upcoming Renault Twingo E-Tech. Given the promised sub-€20k ($22k) price tag, it’s likely that the new Twingo will be one of the most affordable options in the program. Additionally, the upcoming Renault 5 E-Tech and the VW ID.2 could also join the pack when they arrive in 2024 and 2025 respectively. Unsurprisingly, no Chinese models are included in the list.

What is Social Leasing?

The social leasing program was initially was announced in October 2022, with more details coming to light in October 2023 ahead of its launch in January 2024. French President Emmanuel Macron originally mentioned lease payments of €100 ($109) per month, but it appears that automakers have managed to reduce this amount even further. Alongside the low monthly fees, a significant feature of the program is the absence of a down payment, which is subsidized by the French government.

More: Tax Incentives, High Interest Rates Mean Leasing An EV Is The Cheapest Way To Drive A New Car Today

To qualify for “social leasing,” you must be a resident of France, have an annual income of up to €15,400 ($16,815), travel more than 8,000 km (4,971 miles) per year, and live at least 15 km (9 miles) away from your workplace. Meeting these criteria will enable you to enjoy a favorable three-year lease contract with the option to purchase the EV at the end. The contract also covers insurance costs, making it possible for cancellation in the event of death, disability, or unemployment.

 How France Is Bringing EVs To Low-Income Homes With Monthly Leases From €54

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