There’s been lots of speculation about the residual values of electric cars such as the Nissan LEAF, but now we know what the actual figure will be.
Independent experts CAP have predicted that the Nissan LEAF, European Car of the Year, will retain 47% of its on the road price (after the £5000 government incentive) after three years and 30,000 miles – better than hybrid and diesel-engined rivals.
This has resulted in the cost of ownership falling even further, with low depreciation adding to the savings made from using cheaper, cleaner electricity as a fuel. Charging the Nissan LEAF’s batteries costs around £2 and the car has a range of more than 100 miles according to official figures.
In addition, electric vehicle drivers do not have to pay for a tax disc, are exempt from the London congestion charge and can park for free in some cities.
Company car drivers can save even more, as the Nissan LEAF does not attract any Benefit-In-Kind liability, potentially saving thousands every year in tax. For example, a company car driver (based on earning £45,000 including fuel benefits) paying 40% tax and swapping a Vauxhall Astra 2.0 CDTi SE auto for a Nissan LEAF will find an extra £301.53 in their pay packet every month – that’s the equivalent of being given a rise of almost £5,000 a year.
To make electric motoring affordable for private buyers the Nissan LEAF is now available on a Personal Contract Purchase (PCP) scheme, with the residual value being underwritten by Nissan.
It means buyers can be an ‘electric vehicle pioneer’ and pay the same in monthly finance as a conventional hybrid or diesel car – but still make those massive savings on running costs.
With a deposit of £3,850 for example, the Nissan LEAF can be had for just £397.17 per month. After three years the car can be handed back, refinanced or the customer can buy another Nissan. This is based on the price of £23,990 (after the £5,000 government grant), and this would leave an optional final payment of £9758.
The Nissan LEAF has a residual value of 47% (after the £5,000 government grant), compared to 39% for a Toyota Prius T-Spirit, 33% for a Ford Focus 2.0 TDCi Auto, and 31% for a Vauxhall Astra 2.0 CDTi Auto.