7 Reasons to lease an electric car

30/04/2021

7 Reasons to lease an electric car

Whether you want lower running costs, or you want to do your bit for the environment, these reasons to lease an electric car will help sway your mind.

This issue of whether you should lease an electric car will become increasingly important in years to come.

That's because the government has decided that from 2030, no new diesel- or petrol-powered cars will be sold in the UK.

So, despite how much you love petrol or diesel performance, you will be driving an electric car in the future.

Lower running costs

Aside from leasing an electric car, or EV, one reason that may attract you is to enjoy reduced running costs.

This is probably the best reason for switching to battery power and with growing numbers of public chargers in the UK makes the issue of recharging easier.

Currently, there's no road tax to pay when you have an electric car, and in some cities there's no need to pay congestion charges to enter a clean air zone. For London's congestion charge, you will be saving £15 every day.

You will have to charge your EV at home or use public charging, but it still should be cheaper to run than a combustion engine.

One motoring organisation has revealed that a 100-mile trip in a petrol car will cost around £12.50.

In an electric car, the same journey costs £2.50. That equates to a fuel saving of £1,500 a year if you cover 15,000 miles.

Electric car ranges are improving

One of the biggest restraints for people switching to EV's was the lack of range.

Unless you opt for a plug-in hybrid, that is a car with a battery and a diesel- or petrol-powered engine, then your electric range was restricted.

Most hybrids today will return 35 miles on battery power alone, but a few years ago most electric cars did not travel much over 100 miles on a single charge.

This raised the issue of range anxiety, but more cars will travel over 300 miles - and some will do more than 400 miles.

Lower maintenance

The cost of maintaining a diesel- or petrol-powered car can mount up, but with an electric car, the low maintenance costs really are a big asset.

There are still vital safety checks to carry out, for example, checking the tyre pressures, but these vehicles have fewer parts so there's less chance of something going wrong.

The servicing costs for an electric car are also more affordable, and most leasing companies will offer the maintenance element as part of their monthly leasing charge.

The cost of buying an electric car

Another handicap to investing in an electric car is the price of buying new.

While battery technology continues to improve, EV's are still an expensive alternative.

One way around this is to consider leasing an electric car with agreed monthly payments and an initial payment to help spread the EVs cost.

Leasing does carry some benefits, for example, there's no need to worry about the depreciation of the new electric car – that is something for the leasing company to worry about.

Benefit-in-Kind (BiK)

There are tax incentives for anyone thinking of leasing an EV as their company car.

The benefit in kind rate, or the company car tax, for the 2021/22 financial year is just 1%.

For the financial year 2022/23, it will rise to 2% but this still makes leasing a zero-emissions car a sound choice for business users.

Alternatively, the BiK rates for diesel- or petrol-powered alternatives can be up to 37% because the rate is calculated on the vehicle's CO2 emissions.

Impressive levels of performance

One common misconception about electric cars is that people believe they are slow and ponderous.

That is simply not the case, and all electric cars offer excellent levels of performance.

From a standing start, they will accelerate much more quickly than a petrol-powered equivalent.

Lease an EV from the Tesla range, and you can be looking at a 0 to 62 mph sprint time of just 3.5 seconds.

Electric cars are growing in popularity

Leaving aside the fact that we will all be moving into electric cars, they are growing in popularity and becoming more sophisticated.

Some of the electric cars unveiled in 2021 for leasing are incredibly impressive, such as the Volkswagen ID.3 and the ID.4.

The revamped Hyundai Kona Electric is also excellent, as is the Audi e-tron.

Tesla has set the bar in this sector for stylish and comfortable cars, and if you like quirky looks then try the Honda e.

Another reason for their popularity is that EVs don't have a gearbox so there's no clutch or gears to change. This makes commuting and driving around town with its stop-start frustrations, easier and less stressful.

Reasons to lease an electric car

For most people, the reasons given here will be good enough for encouraging drivers to make the switch to leasing an electric car but you also get to enjoy better handling because the battery sits lower and electric cars are very safe. For more help and information about leasing an electric car, contact the friendly team at Tilsun Leasing today on 03330 040 888.

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