Leasing an EV: A Cheap Route to a New Car

If you’ve been tempted by the idea of going electric but put off by the high price of new models, leasing could be the way forward. Right now, some of the best deals on the market are for electric cars, and it’s easy to see why.

Some leasing companies are offering some very competitive monthly rates. Instead of worrying about resale prices yourself, the risk sits with the leasing company. That means in some cases, you can get behind the wheel of a brand-new EV for less than £250 a month – and simply hand it back at the end of the term without any concerns about depreciation. A couple of good options at the £250 a month mark is Ford Puma Gen-e, the Renault 5 and Cupra Born/VW iD3. There are also some options at around the £150 a month mark but these are much shorter range EVs like the Dacia Spring and the Leapmotor T03. Both make perfect city cars. It doesn’t take a long time to find some amazing deals on the market at the moment.

Another benefit of leasing is flexibility. Contracts usually last two to four years, so you’re not tied into a car for too long. Given how quickly the EV market is evolving, with better ranges and faster charging appearing each year, leasing allows you to upgrade more often without being stuck trying to sell an older model.

Of course, leasing isn’t for everyone. You’ll need to keep an eye on mileage limits, and there are penalties for excess wear and tear. But if your driving is fairly predictable and you like the idea of swapping into something new every few years, it can be a very affordable route into EV ownership.

With government grants, cheaper running costs, and electricity still undercutting petrol and diesel at the pumps, leasing offers a neat way to try electric without the long-term risks. If you’ve been waiting for the right moment to make the switch, the current crop of leasing deals might just be it.