It seems the Slate Truck could have a hard time competing with the Ford Maverick
by Brad Anderson
2 hours ago
- Slate Auto’s electric truck may lease for over $500 per month.
- Removal of EV tax credits has pushed the truck’s price higher.
- Competitors like Ford’s Maverick may offer cheaper leases.
The big selling point for Slate Auto’s electric pickup truck was always going to be its price, promising to start at under $20,000 in the United States. However, the removal of the federal EV tax credit has forced Slate to jack up the truck’s estimated starting price, and it may also be shockingly expensive to lease, considering how few features you get.
While the company has yet to confirm a final price for the model, Cars Direct speculates that it could cost upwards of $500 per month. The outlet has come to this conclusion by estimating a $27,500 price tag, which, over a typical 36-month lease with no money down, could work out to be $468.
Read: Slate’s Affordable Electric Truck Just Got A Whole Lot More Expensive
Add in the first month’s payment and an estimated acquisition fee of $700, and this will effectively jump to near $500 per month, before taxes and fees. Had the EV tax credit still been around, the equivalent price would drop to $341 a month, a hefty difference of $127.
However, it’s worth noting that actual lease prices for the truck may be different. The publication based its estimate on a money factor of 0.00292 or 7 percent APR and assumes a residual value of 55 percent.
This or a Ford Maverick?
If Slate Auto wants the back-to-basics EV to be successful, it’ll have to convince many shoppers to buy it instead of a Ford Maverick. It’s currently possible to lease a 2025 Maverick XLT AWD with the EcoBoost engine for as little as $289 per month over 36 months with $3,709 due at signing.
Admittedly, leasing a hybrid version of the Maverick is more expensive. Depending on location, the hybrid Mavericks generally start at around the $430 per month mark, and that usually doesn’t account for a hefty $3,000+ payment due at signing, bringing effective monthly payments to over $500.
