Leasing an electric car, instead of purchasing outright, can be a great way to drive the latest, technologically advanced cars on the market. Leasing can provide access to a greater choice of vehicle and peace of mind to a new electric car buyer, offering a more affordable option as well as allowing drivers to hand back the car once the lease is over with the potential of upgrading to the latest models.
We think that leasing an electric car is a great option and here are seven reasons why:
Leasing electric cars avoids high upfront costs
Leasing an electric car is a great way to drive away in a brand new car without the drawbacks of purchasing one. As the electric car market is still in its infancy, many models do come with a higher initial purchase price than their equivalent petrol or diesel models. By leasing an electric car, this initial outlay can be avoided. Leasing also means that your monthly costs are fixed throughout the term making it easier to budget.
Leasing allow you to keep up to date with the latest technology
Electric car technology is developing all the time. Ranges are improving and charging technology is changing. Every year, we’re seeing new and improved makes and models on the market with enhanced specifications and tech features. By leasing an electric car, you don’t need to worry about missing out on the latest models. Minimum lease durations are around two years for individuals and typically around three to four years for businesses. Once your lease is up you can simply hand back the car with the potential to get your hands on a brand-new model and keeping your early adopter status.
Take the hassle out of selling by leasing an electric car
Being able to hand back the car at the end of your term is one of the things that makes leasing so attractive to electric car drivers. The market for second hand electric cars is still very small in the UK so because you never own the vehicle, there’s no risk on the final resale value and no hassle to try to sell it on. This will all be taken care of by the lease company. Leaving you to think about what model you want to choose next.
More environmentally friendly
Fully electric cars have no exhaust emissions and are therefore helping everyone breathe a little easier, while you reduce your carbon footprint. Read more on the environmental impact of electric vehicles.
Having fewer moving parts, electric cars can be very easy and cheap to maintain. Better still if you take out an optional maintenance package available with most lease deals you won’t even need to think about it. Our lease partner, DriveElectric, offer optional maintenance packages to cover the manufacturer recommended servicing and tyres. This allows you to choose your dealership of choice leaving you with complete control over where and when your car is serviced and maintained.
Leasing an electric car means lower running costs
As an electric car doesn’t run on petrol or diesel fuel, they're cheaper to run.
Electricity is much cheaper than traditional motor fuels costing around £2.80 for 100 miles. Not only that, VAT on electricity for domestic customers is only 5% (businesses still have to pay 20% VAT on electricity) compared to 20% at the pump. The amount you can save each month is considerable.
There’s also a number of other benefits for electric car drivers such as grants for charge points and savings to be made on tax and congestion charges. For company car drivers, there’s also no Benefit in Kind company car tax to pay in 2020.
Advice available from the UK’s electric car leasing specialist
If you’ve never driven an electric car before, making the switch may seem daunting. To make it easier, EDF Energy has teamed up with DriveElectric to offer our customers an electric car leasing solution. The company has placed over 3,000 pure battery electric cars and vans on the road in the UK and are well placed to provide you with all the help you need to find the best electric car to suit your needs. This experience has also led to better buying power which ensures competitive lease costs for our customers as well as far less administration for you.
With such expert help at hand there’s never been a better time to consider making that switch.