With nearly 60,000 sales during 2018 you can see that the demand for electric cars is on the rise. Sales are growing year on year. Last year’s sales were a new record, but that will probably be beaten in 2019. In the first four months of this year there were 18,000 sales. If that continues for the rest of the year, there will be 72,000 electric cars sold.
Because sales are on the rise, there’s much more interest in leasing electric cars. There are more deals, lower prices and a wider choice of cars. But how do you find the best prices and what can you get with your budget per month?
Cars can you lease between £150 and £500
Everyone has a budget, so before looking at cars it’s good to know what you can afford. EVs are still quite expensive and will cost more than their petrol or diesel rivals. Using a Car Lease Comparison site is a great way to check current prices and find good deals. It can really save time and the hassle of dealing with lots of companies as well.
So what can you get for your budget as a personal customer between £150 and £500?
Budget Below £250
£156 per month for the Renault Twizy.
£220 per month for the Kia Soul.
£240 per month for the smart ForTwo Coupe.
£245 per month for the smart ForFour.
Budget Below £300
£285 per month for the Hyundai Ioniq.
£297 per month for the BMW i3.
£298 per month for the Volkswagen e-Golf.
Budget Below £500
£310 per month for the Renault ZOE.
£320 per month for the Nissan LEAF.
£412 per month for the Hyundai Kona.
Paying a Premium to Go Green
As you can see from the prices above, you will still pay extra to go green. You can get the petrol version of the Hyundai Ioniq around £70 cheaper per month. However electric cars are much cheaper to run, with running costs around one-fifth of those of petrol cars, so the total cost of ownership of an EV is typically lower. And if you look for a car at the right time you’ll probably save more than the prices above.
Top Tip to Get the Best Price
If you would like to save money and get the best price, consider getting a longer contract. The difference between a two year and four year contract can be huge. Take the Renault Twizy for instance. If you were to go for a two year contract with 10,000 miles per year, it would cost £253.99 monthly.
Changing that to a four year contract will save you nearly £100 per month. Over the course of two years it will save you around £2,352. That’s a massive saving. It would only cost you £1391.76 more having the Twizy for four years than having it for two years.
Why Lease Your Car?
There’s a number of reasons why it’s better to lease instead of buying your car. One of the main reasons to lease is that you will not be losing money. Buying a car is a bad investment. The moment you drive a car off the forecourt it loses value. It then continues to lose value the more you drive it and the longer you have it. Here’s 10 reasons to lease your next car:
• You get to drive a brand new car every two, three or four years.
• Be under the manufacturer’s warranty for most (if not all) of your contract.
• Not have to worry about selling your car in the future.
• Possibly drive a better car than you could afford to buy.
• Know your car is reliable and not likely to break down.
• Avoid losing money from depreciation / residual value.
• Be in control of your spend and budget with monthly fixed payments.
• Avoid having to deal with MOTs!
• No balloon payment at the end (unlike PCP).
• Not have to haggle with car dealers!
However one of the main reasons to lease an EV rather than buy one is that by the end of your lease the battery performance of the latest models is likely to have progressed significantly, so you won’t be stuck with out of date technology.