We saw the Cadillac ELR a year ago in Detroit and have been waiting for more details. Now Cadillac has announced the ELR plug-in hybrid coupe will be available for "ultra-low mileage" lease customers for $699 a month with $5,999 down.

Meanwhile, it is also announcing a deal for those who purchase the $75,000 ELR. While the price may be steeper, Cadillac is throwing in a free 240-volt home charging station for those who snatch the deal early. The Cadillac ELR, which shares its mechanical structure with the Chevrolet Volt, features a 1.4-liter four-cylinder engine paired with a lithium-ion battery.

It produces 40 more horsepower than the Volt, but takes longer to charge and can't drive as far on electric power alone. The ELR takes five hours to charge and has an EV range of 37 miles. Total driving range is 340 miles.

Buying the ELR ends up costing more than double the Volt. But it comes standard with remote vehicle diagnostics, roadside assistance, Bose premium 10-speaker sound system, CUE infotainment, and upgraded materials. The 2014 Cadillac ELR is now on sale nationwide.

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