2nd May 2020
How to Choose Your Car Lease Company & What to Look Out For
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Electric cars and hybrids have been gaining popularity both globally and in the UK in recent years, thanks to low running costs that don’t hurt your wallet, and low CO2 emissions that don’t hurt the planet. What’s more, this trend shows no signs of abating, as EVs and hybrids alike have proven themselves to be cheap to run, and the technology continues to improve. But did you know an electric car lease can be an affordable way to drive these environmentally-friendly cars, saving even more cash in the long-run?
With the UK banning new petrol and diesel car sales from 2040, more and more manufacturers are prioritising production of electric models. Read on for our guide that explains everything you need to know about the electric car revolution before getting behind the wheel of a low or zero emissions car.
An EV or hybrid car lease is exactly like any other car lease contract. You agree to a monthly payment plan for the vehicle of your choice, and this is determined by your credit score. You can choose a contract length that suits you – from 24 to 60 months (two to five years). You can also choose a finance type that includes contract hire, personal contract purchase (PCP),hire purchase or lease purchase, depending on what suits your needs best.
At Hippo Leasing, we go one step further to get you into the electric car of your choice – we are able to find hybrid car and EV lease deals for drivers with bad credit, while we can also offer no deposit contracts.
Although the fact remains that the value of electric cars is a lot higher than that of conventional cars, the government is accelerating its bid to drive Britons into zero emission electric vehicles. Hence, government schemes have been put into place to allow acquiring EVs to be made more affordable.
For quotes and further details on your leasing options for the wide range of hybrid and electric car lease deals available here at Hippo Leasing, browse our cars below and speak to our team members who are happy to help. Chat with us, email us on [email protected] or simply give us a call on 01254 956 666 to speak with a member of the team about Hippo’s EV and hybrid lease deals.
How do electric cars work?
Unlike petrol or diesel cars that run off a traditional internal combustion engine, electric cars are powered by electricity stored in a charged battery pack. This works to power the motor and turns the wheels.
Hybrids are a combination of the combustion engine and the electric motor – you can find hybrid cars that are charged by a plug, or hybrid where the petrol engine can charge the electric motor’s battery.
Charging your electric vehicle
Your EV can be charged either through a mains socket, a specially-fitted home wall box, or at a public charging station.
You can get either a 3kW charger or a more expensive 7kW home charging station for your electric car. A 7kW charger will give a full charge in 3-4 hours, half the time it’d take than if using a 3kW unit.
Electric cars can plug into your home’s domestic 13 amp power supply. Although this takes much longer than using a dedicated charging point,most first-generation electric car buyers have generally charged their cars at home.
However, this is set to change with the increase of charging points in malls, workplaces and service stations. Using a public charger usually is the fastest and most rapid way to charge your car, with charging times generally taking only 30 minutes.
Running costs of electric cars
Despite electric cars being generally more expensive to buy, their low running costs mean they’re still an attractive alternative. Battery power is substantially cheaper with lower fuel costs of £931 per year, in contrast to a steep average expense of £3,033 for a petrol-powered vehicle.
Maintenance costs are also much lower as the engines are simpler and help the car brake, saving on brake pads. In the UK, annual maintenance costs are 10% lower than for petrol or diesel cars.
MG MOTOR UK