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The 10 best reasons to lease an Electric Car

Posted by: VIP Gateway, 18th Oct 2023

10 Best Reasons to Lease an Electric Car UK

According to UK Government figures, in May 2022 there were more than a quarter of a million EVs on the UK's roads. In addition, sales of plug-in vehicles had reached 327,000 in the previous 12 months. These figures have increased since then as people make more environmentally friendly driving choices.

Despite these figures, you may still be asking yourself the question, “Is it a good idea to lease an electric car?” At VIP Gateway, our team has expertise in electric vehicle leasing. We understand the benefits of leasing an electric car, and we’re happy to share our knowledge with you. We’ll help you answer the question “Why lease an electric vehicle?” by sharing the 10 best reasons to do so.

EVs protect the environment

This is the biggest advantage of leasing an electric car. EVs don’t emit noxious fumes which have an adverse effect on human health, flora, and fauna. This is very different to petrol and diesel vehicles that emit substances such as carbon monoxide, hydrocarbons, and particulate matter. EV’s also don’t rely on damaging fossil fuels to run.

You may have heard that the manufacturing process for an electric car has a bigger carbon footprint than traditional vehicle manufacturing. This is true, but the lack of emissions after this, and the non-reliance on fossil fuels to run, reduce this carbon footprint until a zero emissions balance is achieved.

EVs cost less to run

On average an electric car costs less to run than a petrol or diesel vehicle. You can expect to pay around 8.59p per mile to charge an electric car compared to approximately 12.91p and 13.08p per mile on fuel for petrol and diesel cars respectively.

In addition, servicing and maintenance costs are usually lower for electric vehicles. You do need to factor in higher insurance costs, but even so, running an electric car is the most cost-effective option overall, whether you take out a personal electric car lease or a business electric car lease.

Leasing is more cost-effective than purchasing

Are you convinced about the benefits of driving an electric car but wondering “Should I buy or lease an electric car UK?” If you aren’t concerned about having outright ownership of a vehicle, leasing is a cost-effective choice. So, how much to lease an electric car UK?

The exact cost of leasing an electric car depends on several factors including the amount of your upfront payment, the model and trim you choose, and the mileage allowance you need. You’ll find a variety of leasing options available.

The budget-friendly Gwm Ora Funky Cat is available to lease from around £217.11 including VAT per month for a personal lease, and £180.93 excluding VAT per month for a business lease.

At the other end of the scale is the Porsche Taycan Sport Turismo. This vehicle is available to lease from around £1,181.42 including VAT per month for a personal lease, and £984.52, excluding VAT per month for a business lease.

If you take out a business lease for an EV, you can also save money on benefit-in-kind (BIK) taxation which is significantly lower than for petrol and diesel vehicles. For the 2023/24 and 2024/25 financial years, the BIK rate for electric vehicles is 1%. It then increases at 1% per year to reach 5% by 2027/28.

You stay cooler in summer

If you want to stay cool while stuck in traffic during hot weather, leasing an electric car is a good choice. Batteries and motors generate less heat than a traditional combustion engine. There’s also no exhaust to add extra heat underneath the vehicle while in stationary traffic. This aspect of an electric car is a big positive given that the weather in the UK is likely to keep getting warmer.

Maintenance is easier

There are fewer parts that need attention in an EV. So, it’s no surprise that maintenance is a lot easier than for petrol and diesel vehicles. For example, there’s no exhaust system, and there are no fuel lines. As there are fewer parts to contend with, maintenance processes take less time to complete and tend to cost less money.

This is good news because, if you lease a vehicle, you’re responsible for ensuring it’s well maintained. If you don’t ensure this is the case, you can end up paying additional fees when you return the vehicle at the end of the lease period.

Depreciation isn’t an issue

Like any car, EVs depreciate. So, if you buy a brand-new electric car, it can quickly lose value. Choosing an electric car lease instead means that you avoid this issue. You choose a car that you want and drive it for the length of the lease period. When the lease period ends, and you return the car, you can lease another brand-new car with no concerns about value.

Your driving experience keeps up with technology

Electric vehicle technology evolves on an ongoing basis. This means that when you buy an EV, it can quickly become out of date in terms of the onboard tech. This can be an issue if you can’t afford to buy a new car every couple of years. However, leasing an EV means you always have the benefit of the latest technology because you can lease a new car every couple of years if you choose to.

Battery range is better than ever

If you’re concerned about leasing an electric car because you believe you may not get enough range from the battery, you don’t need to worry. The average range of an electric car in the UK is around 219 miles, and most EVs have a range of between 100 and 300 miles. This is more than enough range for an average driver.

It’s easy to charge your leased electric car before you travel using a home charging point. You can also charge your vehicle during your journey if necessary. According to ZapMap, there are 48,450 charging points in the UK, at 29,062 charging locations, that you can use. The number of charging points continues to increase. There are 42% more now than there were a year ago.

Your journey is quieter

Want to make your day quieter with a less noisy driving experience? Leasing an electric car helps you do this. An EV doesn’t have a combustion engine and the accompanying pistons. It has a motor that’s powered by a battery. This type of system produces hardly any noise compared to combustion engines and pistons, which generate significant noise levels. So, for a quieter drive, choose electric.

EV models are stylish

We choose to buy or lease cars that suit our personality and sense of style. The good news is that the variety of EV styles available has increased considerably. There’s a style to suit everyone, from compact hatchbacks to family estates and luxury models.

If you want to choose the exact trim of your vehicle to match your personality and requirements, we’ll arrange a factory-order electric car lease for you. You may also want to consider our in-stock lease deals. You don’t have complete freedom to choose the design of your lease vehicle because the cars in this range are already manufactured. However, you do get to choose from a large selection of stylish vehicles with the latest tech onboard. You also usually take delivery of an in-stock car within 2-4 weeks of signing the lease.

You can see the clear advantages of leasing an electric car. If you’re considering benefiting from EV leasing, search our range of available cars online to find your perfect deal. You can also call us on 0161 814 9623 or email hello@vipgateway.co.uk if you have any questions. We’re happy to help with any advice and support you need. We also recommend that you read “Electric Car Leasing: A Comprehensive Guide” for more information.