Our Electric Car Leasing Deals

So, you’re interested in leasing an electric car? Leasing an EV comes with many benefits, from flexibility to affordable monthly payments, so it’s a great option for many. But is a car lease deal the best option for you?

Here, we explain how to find the best electric car lease deals and any alternative options to consider (like ours!), so you can make your EV dreams a reality.

Peugeot e-2008 Dashboard

How to find the best electric car lease

Leasing an electric car allows you to get hold of a shiny new EV for a low upfront cost and affordable monthly payments. But how can you find the best deal?

Do your research and compare

If you’re looking for the most affordable electric car lease deal, it’s important to shop around. A comparison site will compare offers from several providers to help you find the best deal. It can also be worth approaching dealerships to ask if they’re able to match or compete with prices.

Decide which EV is right for you

Deciding on the right EV for you and your circumstances can feel like a tough decision. Perhaps you prefer the style of one EV, but another would offer you a faster charge time. If you need to decide which EV would suit you best, you could give our suitability tool a try. Your results will give you a full evaluation of your suitability for driving an electric car, as well as models that fit your range, budget and performance needs. 

Choose how long you’d like to drive it for

You’ll be able to choose the length of your car lease from short-term contracts of as little as a month, through to long-term contracts for as long as three or four years. The shorter your contract, the more flexible it is because you’re not locked in for a number of years – but, your monthly payments will potentially be higher. If you choose a four year lease, you’ll need to factor in the additional cost of an MOT, as well as any servicing that needs doing as a result.

Calculate the best electric car lease deal for your needs

To work out the best deal for your needs, you’ll need to factor in any upfront costs as well as the cost of your monthly payments. You may find that EVs with lower monthly payments come with a higher down payment, so may work out more expensive overall. Make sure to also factor in additional costs, such as MOT and maintenance costs should you choose a four year lease. With this in mind, a car subscription service like elmo could be a simpler and more economical choice – with us, there’s no upfront cost to pay, and any maintenance or breakdown costs are all included in one price.

Citroen e-C4 Shine Edition parked on street

Top tips for saving money on electric car leasing

While a car lease may be a more affordable way to drive the latest, exciting EV, it can still be an expensive commitment. Here’s some of our tips on how to save money on an electric car lease: 

Be flexible on trims

If you’re happy to be flexible about the model of the car and aren’t too fussed about having the latest trim, you could save yourself money. 

Calculate the total cost

Make sure to calculate the total cost of an electric car lease, as well as any extra costs such as insurance. Your payments are based on the EV you choose, the length of the lease and your annual mileage. But there are extra costs to consider. Most leasing companies will ask you to take out fully comprehensive insurance, which needs to start on the same day you receive the car. Be sure to shop around and compare prices across different insurance companies to find the best price. 

You’ll also need to take out GAP (Guaranteed Asset Protection) insurance which covers you if the lease car is written off or stolen. This is to protect you should your insurer only pay out the EV’s current value (with depreciation factored in) and not the full amount left on your lease. 

Save money on charging

To make sure the battery is kept in good condition and to keep costs down on charging, you’ll want to set your EV to stop charging at 80% and make sure your battery doesn’t run lower than 20%.

Vauxhall Mokka-e parked on street

The top deals on elmo’s alternative to electric car leasing

Peugeot e-2008 GT Premium
Peugeot e-2008 GT Premium 50kWh

* Compared against leading lease deals at 10,000 miles a year.

Peugeot e-2008 GT Premium
Fiat 500e La Prima 42kWh

* Compared against leading lease deals at 10,000 miles a year.

Browse all of our electric car subscription deals

An electric car subscription like ours at elmo bundles up all your driving needs into one affordable monthly cost so you can say hello to a shiny, new EV with everything included. Car rental, insurance, maintenance, tax and breakdown cover are all included as standard – you can’t get more low-maintenance than that! Why not browse our electric car subscription deals today to get you started?

FAQs

Is there a best time of year to take out an electric car lease?

When it comes to electric car leasing, the best time of year to get a good deal is when new models are released. This is because funders consider the residual value of the vehicle when they calculate the monthly rental cost. So, the newer the EV model, the better the resale value is for the lease company when your agreement ends. While new models can be released at any time of year, most are released during March or September, so this may be the best time of year to take out an electric car lease.

What’s the difference between leasing and subscribing?

Leasing and subscribing are both great alternatives to buying an electric car outright. While they work in a similar way, they do have their differences. 

If you want to avoid the upfront costs of buying an electric car, leasing can be a good option when making the switch to greener driving. But if you’re not sure whether leasing is the right choice for you, an electric car subscription could be the perfect solution! An EV subscription can be more flexible than car leasing, allowing you to make changes as and when you need to without having to pay a hefty fee. If you’re trying to decide between car leasing or a subscription, we’ve compared leasing vs subscription in our useful guide. 

You may find a subscription is cheaper, with the essentials like insurance and breakdown cover being included in one package. You’ll have the flexibility of not having to commit to a long-term contract and being able to try out several EVs before you settle on the right model for you. Alternatively, however, you may prefer to commit to a car lease which effectively works like a car rental – giving you the opportunity to drive an electric car over a period of up to four years. Which is the better option really depends on you, your lifestyle and financial situation.

Why are electric cars so expensive to lease?

Electric cars are generally more expensive to lease than petrol or diesel cars. This is mostly because they are produced in smaller numbers and use more expensive technology, so supply often doesn’t meet demand. This means that you’re likely to pay a higher monthly lease rate for an EV than you would for a petrol or diesel car. 

Does an electric car lease include insurance?

Car insurance is not included in an electric car lease, so it’s the driver’s responsibility to insure their shiny, new EV. When leasing a car, you’ll need to take out a fully comprehensive policy, and if you use the EV for business use then it will need to be insured for work purposes as well. 

Ready to subscribe to your own EV?

Here at elmo, we offer a flexible alternative to electric car leasing so you can discover all the benefits of driving an electric car. Browse our full range of electric cars available on subscription today.

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Peugeot e-2008 in black parked on road

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Peugeot e-2008 Dashboard

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Any Questions?

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