When automotive talk turns cheap, the most common vehicle that comes up is the Tata Nano, which currently holds the title as the Cheapest New Car in the World and is only available in India. So, Americans, how would you like to snag a brand-new electric car for the low, low price of just $865 right here in the United States? If you happen to live in Oklahoma, you can do just that... sort of.
There's plenty of fine print, naturally. For instance, the electric car in question, the Kandi Coco, is really a Low Speed Vehicle (or LSV) that is capped by law to a top speed of 25 miles per hour and restricted to roads with speed limits of 35 mph or less. And yes, it's made in China and looks something like half a Smart Fortwo. Still, the Coco carries an MSRP of $10,599 and you may be able to score one dirt cheap thanks to a couple of available state and federal rebates.
The first deduction comes from the federal government and cuts the price by $4,435. Next, the State of Oklahoma deducts another $5,299 from the starting price for a total rebate of $9,734. Do the math, and that equals one Kandi Coco for $865 – but only if you live in Oklahoma, and only if you make the purchase before the end of the year. Now... go out and get that giant red bow before it's too late. And don't forget about the free EV option.
[Source: Kandi via Automobile Magazine]