The all-electric Mitsubishi i-MiEV
, which costs £24,045 after the UK government’s £5,000 Plug-In Car Grant (PICG) and first registration fee, is now available for just £239 per month.
T he Mitsubishi i-MiEV was the first mass produced pure EV to enter the global stage and as such was also the first to the UK market back in 2009.
The EU specification model has been on sale since January 2011 to coincide with the UK government’s Plug-In Car Grant (PICG)
Since 1 st
January, nearly 170 vehicles have been operating on the UK’s roads driven by a whole host of different customers from private retail customers and corporate fleets to public sector organisations. Out of the sales thus far, contract hire and leasing customers are responsible for approximately 10%.
The i-MiEV costs £24,045 after the UK government’s Plug-In Car Grant (PICG) and first registration fee, and is now available for just £239 per month, (excluding VAT) based on a rental period of 60 months (five years).
For a rental period of 47 months the monthly price is £279, and for 35 months it’s £350.
In addition to the new contract hire and leasing rentals, both retail and business user customers can benefit from a 0% APR Finance option. This offer is available on both regulated and non-regulated finance plans, with and without final balloon payments.
A minimum post grant deposit is required on both plans. For retail customers, this type of proposition means that ownership passes upon signing the agreement and for business users, the vehicle is an asset on the balance sheet and lower monthly payments aid cash flow. For example, for the 47 month plan, the initial deposit is £5,871, with a final payment of £6,000 (excluding VAT).
I ndependent residual value advisors, CAP, have predicted the Mitsubishi i-MiEV will retain 43% of its on-the-road price after the £5,000 government incentive PICG and after three years and 30,000 miles – which is better than most combustion-engined rivals.
The ultra-low running costs of the i-MiEV are also a key advantage over other cars, with additional incentives including ‘fuelling’ for as little as £1.05 per full charge (if using Economy 7 tariff), low servicing costs and minimal downtime. The i-MiEV is also exempt from road tax, is free from the London Congestion Charge and is entitled to free parking in some London Boroughs and cities such as Milton Keynes.
Company car drivers will further benefit as the i-MiEV is not subject to Benefit-In-Kind tax. Furthermore, businesses will benefit as they can write-down the vehicle’s full value in the first 12 months.