It’s a nice little way to jam citizens into a vehicle they could otherwise not afford
E-Vive la France! France has launched a new “social leasing” program for drivers to lease electric vehicles (EVs) for as little as about $43 monthly, in some cases, for six months.
President Emmanuel Macron first announced the program back in October. Thanks to a subsidy from the country’s government, the initiative comes with no down payment for those who are eligible, as well as free charging, as reported by Electrek.
In order for French residents to qualify for the social leasing program, they must have an annual income of less than €15,400 (about $16,650), travel more than about 5,000 miles per year, and live at least 15 kilometers (a bit over 9 miles) away from their workplace.
Those eligible for the program are offered a three-year lease contract with an option to purchase the EV at the end of the leasing period. The leasing contract even covers insurance costs and cancellation fees because of unforeseen circumstances.
Um, how many make less than that and can afford to drop $43 a month? Plus insurance? Upkeep? That’s $1387 a month gross, before all the taxes. When I first read about this I was thinking it was a way to get some EVs into the pool as pre-owned, but, how many can actually take advantage? Unless there are a lot of really, really poor French folks. Maybe it’s for all their illegal aliens? Or seniors who work part time? Because no one can afford the purchase price at the end of the lease.
The lowest cost EV in the U.S. is the Nissan Leaf. They are offering $289 a month, 36 months, with $2669 down (that won’t include things like tax, tags, dealer fee). It doesn’t say what the yearly mileage is, I suspect 10K a year. That’s with excellent credit. The car must be turned in well maintained. So, what happens with France’s program?
Getting more people to drive EVs is a huge win for the environment since they run on electricity instead of burning dirty fuels like gas or diesel, which helps keep the air cleaner and reduces pollution that heats up our planet.
How many of these folks actually had a fossil fueled vehicle to start with? At least in the U.S., there’s virtually zero chance of getting a loan unless your gross is at least $1800-$1900 a month. Even buy here pay here won’t touch it. So France would be replacing no car with one that requires mining in Africa by kids? Huh.
Read: French Government Rolls Out Lease Subsidies For Low Income Citizens To Get EVs »
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