What are the benefits of leasing an electric car?
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.
Firstly because 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 vehicle, not the full value and the interest that comes with it. But secondly, because leasing 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 electric vehicle is your way of driving greener, sooner, through a lower and more flexible funding structure. The growing range of electric vehicles 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have the hassle of selling on an asset or the concern of tying up funds in an investment that could quickly become outdated.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 continually 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 vehicle 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-installed 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 vehicle 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 vehicles are a significant part of the problem.
Choosing an electric vehicle allows you to drive guilt-free - producing little to no tailpipe emissions no matter how far or frequently you get behind the wheel.