9 benefits of electric car leasing

Date Posted 7th July 2022
Read Time 7 min read

As you would expect, electric vehicles are being touted again as one of several solutions to the global crisis in the current ecological climate. While there are environmental benefits to leasing an electric car, there are practical and economic benefits too.

We’ll give you some tips on how you might make the right choice when considering which car might suit you, your family and your lifestyle. So, what are the perks of leasing an electric vehicle?

1. Let’s start with the money

Electricity is cheaper than petrol or diesel. If you compare the pence per mile of a petrol car to an electric vehicle, you’ll now be paying over seven times more for a car that runs on fuel.

According to data from Zap Map‘s Journey Cost Calculator; the price per pence of electricity currently stands at 25p per kWh, whilst petrol and diesel are at 173p, and 187p per litre, respectively.

In terms of business, if you lease an electric car through your company – you’ll pay zero tax in the UK. When you consider the amount of tax required to drive a company car, electric is an alternative that helps you, your business and the environment.

The final point is that you’ll pay less for servicing and general maintenance. The compact and straightforward nature of the electric engine results in much less needs to prod around. 

Generally, you will not wear many parts out on an electric car, which can make a massive difference to your sanity and your pocket.

2. The environment

By leasing an electric car, you are protecting the environment and helping the UK to hit its carbon emissions target. Your electric vehicle will output zero emissions, making it tax-free but ultimately a source of zero pollution.

The fact is, the more electric cars that are on the road, the less impact we’ll see from climate change, and that gives us more scope to start reversing the damage. 

There are issues with batteries that reach their end of life, and there will be an environmental cost for disposing of them, but work is underway to recycle these batteries.

The simple fact is that removing all fossil-fuelled vehicles will create a better environment in the long term.

3. Easy home charging

We are seeing homeowners install charging points for their current or planned electric car lease. Plus, by law, all new builds are required to have charging points fitted as standard, making EV charging at home an easy option. You plug your car in when it needs fuel the same way as your phone.

You might be worried about how this might impact your bill. Well, electricity providers are on the case, and they’re offering cheaper electricity rates through the night on specialist tariffs for electric vehicle drivers, so you won’t have to worry about plugging in your car and being charged the same rate as you would running another device for such a long period.

We know there’s concern around longer journeys for many motorists and how you would make that work. We’d advise you not to let that put you off leasing one. Electric cars will only grow in popularity, so charging stations will become more common. 

They’re relatively easy to find anyway, and with the best vehicles boasting a range of 300+ miles in a single charge, you’re not going to have to worry about planning for a charge on your lease vehicle.

In addition, the government has recently announced extra funding for electric charging infrastructure, and in a recent analysis revealed the UK cities with the fastest EV charging capabilities.

4. Leasing over buying

It’s no secret that electric cars cost a fair amount of money. Not all of them, but some of them. As electric vehicles become mainstream, prices will undoubtedly come down.

The benefit of leasing is that it gives people who might not have the funds to buy an electric car outright the chance to drive one and reap the benefits.

And, since the marketplace is changing rapidly and new and exciting vehicles are hitting the market at a rapid pace, leasing a car means you aren’t tying yourself to a vehicle for too long.

5. Be an early adopter

Have you ever seen an electric vehicle? Lots of them look like something out of space. They’re an absolute thrill to drive. With a lease, you could be one of the first people to drive these great cars.

As we’ve already said, electric cars are the future. Lots of people already know this, and they’re living with the thrill of early adoption. If you lease an electric vehicle, you can be part of that trend.

6. Leasing is hassle-free

Lots of people might be concerned with the hassle of buying an electric vehicle. Electric vehicles are still a relatively new concept, and you might be worried that if you purchased one, you would struggle to sell it if you needed to.

Leasing an electric vehicle removes the risks that come with that. At the end of your lease agreement, you hand the car back over, and you can walk away, or you can choose to lease something else.

7. Maintenance is easier

Like any other vehicle, electric vehicles have to pass an MOT at three years old. If you lease a new car, your lease will likely be three years, which will mean that you won’t have to pay to put the vehicle through an MOT or deal with any hassle regarding getting things fixed.

Aside from that, because electric vehicles are essentially big computers, this means fewer moving parts. That means that electric cars are easier to maintain.

And, because they aren’t as messy as traditional motor vehicles, they have less wear and tear under the bonnet, which means they don’t depreciate as quickly as ordinary cars do, so you’ll be driving a flashy, expensive car for the entirety of your lease.

8. You don’t have to lease a fully electric vehicle

If you’re not sure yet whether or not you want to go the whole way with an electric car lease, you can choose to lease a hybrid vehicle instead.

Hybrids use a mixture of petrol and electricity to get you around. They usually have a really low range, which means you can’t use the electric part of it whilst you’re driving long distances, but they’re perfect if you use your car mainly to drive around town and run errands.

Many people feel safer driving hybrids because it removes the worry of running out of charge and not finding a charging port when making a long journey.

9. Leasing is the best way to drive an excellent car for a fraction of the price

If you’re still concerned about leasing – and we know many people are because they think they’re not investing in anything – you need to remember that most cars are not investments. The minute you drive your new car off the forecourt, it depreciates, and it is doubtful you are ever going to make money on a car you bought. 

There are very few cars that retain their value well. The truth is, most of the vehicles you have ever bought, you’ve had to either scrap or sell for a fraction of what you paid for them. This isn’t the housing market, where you’ll make money when you come to sell up a few years from now, so don’t feel pressured or trapped into buying a car.

Leasing is a great way to overcome this issue because it means you get to drive a great car without worrying about how you’ll afford another one in a few years. Interested? Apply Now for a decision in minutes, with no impact to your credit score.

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