Electric cars are becoming increasingly popular, and that’s no surprise. They react to the drive, are inexpensive to operate and very good for the local air quality. And if you are a company car driver, you are very tax efficient. In fact, we think there are few downsides, especially given the variety of models available for leasing.
That was not always so. Not so long ago there were only a handful of cars to choose from. These days there are electric models in just about every body style you can think of. In addition, electric vehicles are offered with a variety of power levels and battery sizes, just as there are typically several engines in gasoline and diesel models.
Why isn’t everyone sitting in an electric car? The price remains a critical barrier. Yes, they cost less to run than a motorized car, but initially they have a higher purchase price. This is where leasing becomes the ideal choice.
Leasing an electric vehicle is the answer
If you look at the cost of a vehicle on a monthly basis – instead of the large flat fee required to buy a car – many electric vehicles offer comparable leasing costs; That’s before you start considering operating costs, where EVs have a significant advantage.
For example, lease a Volkswagen e-Up! 32 kWh with a similar (if not better) specification than a Toyota Yaris 1.5 Hybrid Excel for £ 193.03 per month versus the Yaris for £ 197.92 per month. It’s a similarly sized car, both models being good for city driving, but the e-Up! will cost you a lot less thanks to the cheapness of home charging and lower maintenance costs.
Taking a closer look, the popular and stylish MINI Hatch is available with either an electric or gasoline drive. The Cooper S model – where the electric range begins – sees monthly leasing costs of £ 236.91 for the 1.5 liter gasoline model.
For the electric MINI Cooper S, monthly leasing costs start at £ 260.22 per month, both on a 48-month personal lease. While the gasoline MINI is cheaper to rent, many drivers are conveniently saving the £ 23 difference on fuel costs alone each month, and many could save that each week.
The above comparisons are based on compact cars. So what happens when we look at bigger machines? Well the price difference is increasing, but not by much. The VW T-Roc 1.5 TSI EVO R-Line – one of the most popular models in the family SUV class – starts at 259.62 euros per month.
If we look at a comparable Kia e-Niro 2 64 kWh that has a range of up to 300 miles, prices start at £ 286.21 per month. As with the models above, to keep comparisons fair, the specs are similar, as are the car’s physical size and performance / performance metrics. As with the MINI comparison, the £ 27 difference in cost of choosing a Kia e-Niro versus a VW T-Roc can easily be reclaimed in fuel costs each month.
And the list goes on. There are electric cars as super minis, city cars, family hatchbacks, station wagons, compact SUVs, mid-range SUVs, large SUVs. . . really everywhere. Prices are close to what you could pay for a gasoline, diesel, or hybrid model, but with the added benefit of being able to top up in the comfort of your home and spending a lot less fuel.
Upfront costs at lower operating costs
For example, it costs around £ 10 to fully charge a Kia e-Niro at a home rate (based on 16 P / kWh – although this can be reduced slightly on smart or low-rate tariffs), and that comfortably puts drivers 280 miles below real ones Conditions. According to the official fuel consumption, 25 liters of fuel are required to cover the same distance in the T-Roc. With a broad average of 130p per liter for gasoline, motorists pay more than £ 32 to travel the same distance.
Many electric cars now have a range of around 200 miles on one charge, which is significantly more than most motorists cover in a day. Even the smallest models can comfortably cover more than 100 miles on a single charge, and these electric vehicles can only take 20 minutes to charge.
Larger EVs with greater range will double the charging time, but can also travel around 300 miles before needing to be charged. For anyone claiming that 300 miles is too short for a reasonable range, a driver would sit at 110 mph on a freeway for three hours at 110 mph, seeing a driver cover 210 miles, at which point it is recommended to take a break.
One of the greatest advantages is that many EV drivers can wake up with a fully charged car every morning and not have to bother or redirect to a gas station. Many will rarely cover more than 300 kilometers in a day, and most drivers would only need to charge their EV less than once a week – the average daily mileage in the UK is around 20 miles per day.
Electric cars are not for everyone, we know, but you would be surprised how many more drivers would be comfortable in an electric car than in a gasoline or diesel alternative. And you’ll be surprised at how much more money is in your bank account every month: electric cars aren’t going to break the bank – they should save you money in the end!
If you are interested in electromobility and would like to find out more about the advantages of leasing, contact one of the dedicated experts at Intelligent Car Leasing on 0344 387 2727.
