Slate Might Be On The Verge Of Pricing Itself Out Of The EV Market | Carscoops

      It appears that Slate Truck may struggle to compete with the Ford Maverick.

      Slate Auto's electric truck could lease for more than $500 each month.

      The elimination of EV tax credits has increased the truck's price.

      Rivals like Ford's Maverick might provide more affordable leasing options.

      The primary appeal of Slate Auto’s electric pickup truck was intended to be its price, which was expected to start under $20,000 in the U.S. However, the removal of the federal EV tax credit has led Slate to raise the estimated starting price of the truck, making leasing it potentially quite costly given the limited features offered.

      While the company has yet to finalize the price for the model, Cars Direct suggests that the monthly lease could exceed $500. This estimate is based on a projected price of $27,500, which when calculated over a standard 36-month lease with no down payment, would amount to approximately $468.

      When adding the first month's payment and an estimated acquisition fee of $700, the total would effectively rise to about $500 monthly, before taxes and additional fees. If the EV tax credit had still been in place, the comparable monthly payment would have dropped to $341, resulting in a significant difference of $127.

      It is important to mention that the actual lease prices for the truck may vary. The estimate provided by the publication was based on a money factor of 0.00292 or 7 percent APR, with an assumed residual value of 55 percent.

      If Slate Auto hopes for its straightforward EV to succeed, it must persuade numerous customers to choose it over a Ford Maverick. Currently, it’s possible to lease a 2025 Maverick XLT AWD with the EcoBoost engine for as low as $289 monthly for 36 months, with $3,709 due at signing.

      It is worth noting that leasing a hybrid version of the Maverick tends to be more expensive, typically starting around $430 per month depending on the location, and this usually does not include a substantial upfront payment of over $3,000, which raises the effective monthly payments to more than $500.

      Sources: CarsDirect