Honda is reducing the new competitive lease price of its all-electric Fit EV to $259 a month.

According to the company’s new price package, the Honda Fit EV will be available on a three-year lease term for $259 a month, with no down payment, unlimited mileage, routine maintenance, collision coverage and a 240 volt EV home charging station equipment, beginning June 1, 2013.

Originally, the Fit EV had a three-year lease for $389 a month and was limited to 12,000 miles a year.

The new reduced lease price and unlimited mileage term also will be applied to existing Fit EV customer leases going forward starting in June 2013, the company said.

“Now it’s the only EV on the market with no down payment, unlimited mileage, collision coverage and a free home charging station, giving customers an unprecedented value that only Honda can provide and a compelling reason to get off the barrel and onto the grid,” stated Steve Center, vice president of environmental business development at American Honda Motor.

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