Honda on Monday announced that it would be slashing the leasing price of 2013 Fit EV from $389 a month to $259 beginning June 1. The lease terms include no down payment, unlimited mileage, routine maintenance and collision coverage. Additionally, owners will receive a 240-volt EV home charging station from Leviton, which they'll be able to keep after their lease expires.

The 2013 Honda Fit is available on a three-year lease and the new pricing will affect new and existing owners alike. Honda notes that the new lease terms make the Fit EV one of the most affordable electric vehicles currently available in the U.S.

"The Fit EV already is a benchmark electric vehicle with a leading-range rating, fun-to-drive dynamics and excellent packaging," said Steve Center, vice president of Environmental Business Development at American Honda Motor Co., Inc. "Now it's the only EV on the market with no down payment, unlimited mileage, collision coverage and a free home charging station, giving customers an unprecedented value that only Honda can provide and a compelling reason to get off the barrel and onto the grid."

The Honda Fit price cut is the latest in a string of EV markdowns that include the Nissan Leaf, Chevrolet Spark EV and Fiat 500e. All three recently announced $199 a month leases in an effort to build momentum for the fledgling domestic EV market. However, the deals from Nissan, Chevrolet and Fiat each come with a mileage limit: 12,000 per year.

Honda also announced that it would be streamlining its online application for the 2013 Fit to make it easier to obtain the vehicle. Still, it's important to note that the car is far from widely available. Prospective owners can only purchase the EV in one of eight states: California, Oregon, New York, New Jersey, Massachusetts, Maryland, Rhode Island and Connecticut.  

Aside from the revised lease terms, Honda hopes to further sweeten the pot with a solar power option at no upfront cost. The carmaker offers solar panels through a partnership with SolarCity.