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Fisker Ocean electric SUV will lease cheaper than a Tesla Model 3

Fisker is ambitiously promising a sub-$400-a-month payment through a flexible lease program.

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Fisker Ocean electric SUV

At this point, we've basically seen the whole SUV aside from the interior.

Fisker

It looks like Fisker is getting really serious about launching its first electric car, the Ocean SUV. Well, there was the Karma, but that's from a different Fisker era.

The company said on Wednesday that it plans to offer the Ocean for a surprisingly affordable $379-a-month lease payment. Details surrounding a purchase option weren't available, but Fisker said it's going to focus on the lease program. One catch: a $2,999 down payment.

Big Land Rover vibes.

Fisker

The rather cheap payment is also after an interested person pays the $250 reservation fee. Preorder books are open as of Wednesday, Fisker added.

Even looking past the on-paper $379 payment, the total lease cost is still cheaper than any rate Tesla is currently running on the most affordable Model 3. As of this writing, Tesla asks for $1,214 down on a Model 3 Standard Range with a monthly payment of $519 a month and 10,000 miles allotted per year. It'd take only a little over a year to make up the difference in down payments between the two.

Further, Fisker says this flexible lease program will not include any long-term contracts. Want an Ocean for a year? Cool. A month? That's fine too. Several years? Also fine, says Fisker. On top of that, the company promises 30,000 miles annually with this lease program and it'll bundle insurance quotes from its dedicated smartphone app or its website.

Once a customer reserves their Ocean SUV, they'll have the chance to select from five options packages next year. Fisker plans to show customers these at certain "experience centers" opening in 2020 in shopping malls, airports and the like. In 2021, they can use the mobile app to schedule a test drive, and at any point, they can get their $250 deposit back.

Seriously, it's a good looking SUV.

Fisker

Right now, the plan is to start production of the Ocean EV at the end of 2021 with a range between 250 and 300 miles. It'll be about as long as typical compact crossovers and supposedly come with a solar panel roof to add a small trickle of electric driving range daily. Fisker is also proud of the fact it plans to use totally sustainable materials for the interior, such as old T-shirts, plastic water bottles and even material from discarded fish nets left to rot in the ocean.

We'll see the Ocean debut in the metal on Jan. 4, 2020. If things go right, the next couple of years could be big for this EV startup.

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