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Electric, battery-powered and hybrid cars are growing in popularity on UK roads. This has been propelled in recent years by our collective environmental consciousness, far improved product development by brands and manufacturers and a wider appreciation for the unique driving performance offered by electric-powered cars.
However, despite this growing interest, the perceived expense of going electric leads many of us to write off choosing an electric car as a possibility. Leasing an electric or even a hybrid will minimise the required initial investment and will allow you to spread the lease cost into affordable monthly payments.
Unlike other funding methods, leasing allows you to finance your electric motor based on its depreciation value rather than its total buying cost. So, you could drive away your perfect electric car for less than you thought! We provide lease deals on a huge range of makes and models, including purely electric and fully electric cars. This includes Tesla, Nissan, Renault, Mercedes-Benz, BMW, Audi, Volkswagen and Jaguar.
Demand for electric cars is undoubtedly on an unstoppable upward curve. Plus, more of us each year are choosing leasing as the funding method of choice for our new cars. So what makes electric car leasing such a winning combination; not just for our purse strings, but also for our driving pleasure and environmental consciousness?
1) Maximise your buying potential
One point is unavoidable: electric cars come with a substantial price tag. Leasing is a funding method that has always been a means to improve accessibility to newer, safer and better cars by making them more affordable. And electric cars are no exception.
The overall cost of a lease can be less than other funding methods - due to the fact your finance is based on the depreciation value of the car, not the full value and the interest that comes with it.
Leasing also allows you to personalise how you divide up that cost. Want to pay more upfront and reduce monthly payments? No problem. Would rather put as little down as possible and cover more each month thereafter? That's an option too.
So, leasing an EV is your way of driving greener, sooner, through a lower and more flexible funding structure. The growing range of electric cars currently available means all driving tastes and budgets are catered for
2) Avoid the burden of buying new
Leasing an electric car allows you to change into a newer model every few years. With frequent manufacturer changes and facelifts being common in the automotive industry as a whole, but the continually improving electric car market, in particular, leasing will give you the chance to always benefit from the latest designs and technological developments. You won't have the hassle of selling on an asset or the concern of tying up funds in an investment that could quickly become outdated.
Battery range is one thing always on the lips of manufacturer development teams with competition rife over who can come out on top when it comes to charging your electric car. Never be behind the curb: leasing allows you to swap out of your car easily every few years, and swap straight into a newer, better model.
3) Reduce running costs
Depending on your driving routines, choosing an electric car lease deal could mean you very rarely have to venture to a fuel station to top up. Whether through a home charging point, a public charging point or on the mains, you can recharge your electric car fully from the comfort of your own home without having to worry about Co2 emissions and the effects on the environment.
But that's not the biggest victory: consider running costs. According to Thatcham Research, KeeResources & manufacturer data, when comparing the electric BMW i3 to the petrol BMW 318i the 'fuelling' costs for the latter are nearly four times dearer - BMW i3 costing 3.7p per mile, BMW 318i costing 14.3p per mile.
Consider also the tax benefits afforded to electric cars and that the servicing and maintenance costs involved come in at roughly 23% less than their combustion-engine counterparts (source: cap hpi).
Together, that could create a substantial saving on your running costs!
4) Join the drive for lower carbon emissions
For many of us, this is the primary driver for choosing to lease an electric car. We are becoming increasingly aware of the damage done by our growing contribution to carbon emissions. And combustion-fuelled cars are a significant part of the problem.
EV leasing allows you to drive guilt-free - producing little to no tailpipe emissions no matter how far or frequently you get behind the wheel.
As well as all of the benefits highlighted above, there are additional incentives for businesses and their employees in going electric. The British Government have consistently released funding grants and tax relief for businesses choosing to make the switch to electric cars.
What this means is that company cars producing 0g km of CO2 will, from April 6th 2020 onward, avoid any Benefit in Kind (BIK) tax. This does then increase gradually by 1% year on year but remains vastly lower than it ever has been before, and significantly less than any combustion fuelled alternatives.
Not only can businesses demonstrate effective corporate social responsibility by adopting a greener fleet, but they could make great savings on their running costs and save their employees vast sums in BIK. All this without submitting to the higher buying prices typical of electric cars as leasing provides a flexible, cost-effective alternative funding option.
If range is top of your list when considering an electric lease car, here are our top selections for you:
If you want to keep a tight budget while still choosing an electric lease car, here are our top selections for you:
If your electric lease car must also be able be small and easily manoeuvrable, here are our top selections for you:
If your new electric lease car must come with the thrill inseparable from cars within the high performance category, here are our top selections for you:
