► The best electric car leasing deals in the UK
► From compact EVs to larger electric cars
► The best electric car lease deals under £400
A glance at the list of best electric cars might reveal that, as technology has advanced, zero-emissions motoring could now be a viable option for you. But, despite increased production, competition and advances in technology, the outright cost of a new electric car might still prove to be too high.
Fortunately, if you’re sold on electric cars but not on handing over one lump sum of cash, there are myriad electric car leasing deals around that could provide a more manageable way into EV ownership – and one that could allow you to sample and enjoy the electric car lifestyle without committing in earnest and ending up stuck with something that doesn’t suit you.
Whether you’re looking for one of the best small electric cars, the best electric SUV, or even one of the cheapest EVs around, you can usually find a suitable leasing deal for somewhere in the range of £250-£400. And, to make things easier for you, we’ve compiled a shortlist of the best electric car deals from our car leasing partner, Leasing.com.
What is car leasing?
What is often referred to as leasing is formally known as Personal Contract Hire. Car leasing is just like any other lease agreement you may enter: it entails an upfront initial rental, followed by monthly payments throughout the duration of the lease, which is usually between two and four years.
Unlike a Personal Contract Purchase (PCP), where you can opt to buy the car at the end of the contract, with a lease you simply hand the car back to the company you leased it from. It’s basically long-term rental.
It has its advantages, such as lower monthly payments than a PCP deal – Personal Contract Purchase – and it provides an easy way into a new car that can be changed relatively regularly. There are downsides though, such as higher long-term costs compared to PCP, and that you can’t buy the car when the lease comes to an end. You also need to be mindful of the costs incurred by exceeding any agreed mileage, and those resulting from any damage.
If you like the idea of changing your car every few years or so, and you want minimal ownership hassles and complication – and if the finances stack up – leasing can be a sensible way to get into a new car.
The best electric car leasing deals for £200-£400
MG MG4
Price per month: £262
Initial rental: £2,359
Contract length: 24 months
Annual mileage: 6,000 miles
The MG4 was the third of the brand’s electric cars to hit the market and, much to the surprise of everyone, it transpired to be a superb EV. So much so, in fact, that it easily rivals far more expensive competitors.
We spotted a leasing deal for the entry-level 51kWh model of the MG4 EV, which can cover up to 218 miles on a single charge, that costs £262 per month. The only potential pitfall is an annual mileage limit of 6,000 miles, but it doesn’t cost much to increase that if it’s too restrictive for you.
View all MG Motor MG4 leasing deals
Read our full MG Motor MG4 review
Peugeot e-208
Price per month: £290
Initial rental: £2,613
Contract length: 48 months
Annual mileage: 5,000 miles
The smartly styled Peugeot e-208 is a great electric hatch, and a sensible starting point if you’re looking to make your first step into the world of electric power. It’s just like a normal 208 but electrified, and it has a useful claimed range of 224 miles, a 0-62mph time of 8.1 seconds, and plenty of kit as standard.
The cheapest leasing deal we found started at £290 per month, with an initial fee of £2,613. The 5,000-mile annual limit might be too little for many, though, but upping it to 10,000 miles is possible for around an additional £35 per month.
View all Peugeot e-208 leasing deals
Read our full Peugeot e-208 review
MG ZS EV
Price per month: £283
Initial rental: £2,548
Contract length: 48 months
Annual mileage: 8,000 miles
If you’re looking for an affordable electric car that’s a bit more spacious and practical, look at the MG ZS EV. The entry-level variants come with a 51.1kWh battery that grants a range of 198 miles, as well as highlights such as generous interior space, a 470-litre boot, and stacks of kit.
To lease, expect to pay £283 per month for a deal with an 8,000-mile limit. There are also other electric SUVs around for similar money, including the Hyundai Kona Electric – so you’ve a few options if the MG ZS doesn’t suit you.
View all MG ZS leasing deals
Read our full MG ZS EV review
Fiat 500 Electric
Price per month: £288
Initial rental: £2,594
Contract length: 48 months
Annual mileage: 6,000 miles
Buyer seeking a bit more style and charm could opt for Fiat’s characterful all-electric 500, in either hatchback or convertible form. The neatly designed city car is packed with pleasing details, pleasant to drive, and available with a range of up to 203 miles.
We found a lease deal for the long-range version, which also has a more powerful 116bhp motor, for £288 per month after an initial payment of £2,594. An annual mileage limit of 6,000 is standard for that deal but higher mileage limits are available.
View all All-electric Fiat 500 leasing deals
Read our All-electric Fiat 500 review
Volkswagen ID.4
Price per month: £337
Initial rental: £3,039
Contract length: 24 months
Annual mileage: 8,000 miles
The Volkswagen ID.4 is a good choice if you’ve a bit more to spend and need something with increased capabilities. It offers up space for four adults, a large 543-litre boot, a range of up to 328 miles, and a vast array of standard features.
We spotted a 52kWh model, with a range of up to 223 miles, on offer for £337 a month. The initial rental was £3039 but, pleasingly, the annual mileage was a higher-than-normal 8,000 miles.
View all Volkswagen ID.4 leasing deals
Read our Volkswagen ID.4 review
Renault Megane E-Tech
Price per month: £366
Initial rental: £3,290
Contract length: 48 months
Annual mileage: 6,000 miles
The Megane E-Tech is Renault’s answer to the likes of the Cupra Born and Volkswagen ID.3. You might think it a crossover at first glance but the pictures are a bit deceiving; the all-electic Megane’s about the same height as a Ford Focus.
Renault’s also pitching it as a bit of an EV for enthusiasts, and it does have shades of warm hatch to it. It’ll do 0-62mph in a respectable 7.5 seconds, for example. It’ll also cover up to 280 miles on one charge, which is pretty good going. Put down £3,290 and you could drive one for £365 per month, with a 6,000-mile annual limit.
View all Renault Megane E-Tech leasing deals
Read our Renault Megane E-Tech review
Volkswagen ID.3
Price per month: £393
Initial rental: £3,539
Contract length: 48 months
Annual mileage: 5,000 miles
The Volkswagen ID.3 is worth investigating if you’ve looked at a few of the less expensive electric hatchbacks and come away unimpressed. It’s a very modern and neatly finished car, and one that’s also good to drive and quick – so if you’ve been looking for something a bit more rounded and premium, it might prove ideal.
Getting an ID.3 leasing deal in this budget can be tricky, though; we found a 58kWh model, with a claimed range of 260 miles, on offer for £393 per month. However, the annual mileage is just 5,000 miles. Bump that up to 10,000 and you’re immediately paying more like £430 per month. In either case, some of the less costly alternatives might suddenly seem more appealing again.
View all Volkswagen ID.3 leasing deals
Read our Volkswagen ID.3 review
Peugeot e-Rifter
Price per month: £395
Initial rental: £3,550
Contract length: 48 months
Annual mileage: 5,000 miles
If you have multiple children, you might quickly hit the practicality limits of many a mainstream hatch, SUV or estate. In such instances, when you need something hugely practical, a van-based solution such as the Peugeot e-Rifter can just the ticket.
Five- and seven-seat models are available and, in the five-seat version, a whopping 775 litres of storage space is on offer with all the seats in place. Plus, as you’d imagine, there are myriad storage points. The range of up to 172 miles might be restrictive for some, though, but if you’re looking for an immensely spacious family runabout, this could be it. Leasing.com has one up for grabs for £395 per month, but the annual mileage limit is just 5,000 miles.
View all Peugeot e-Rifter leasing deals
Read our Peugeot Rifter review
Are there any additional costs besides the lease payments?
It depends on the particular deal and leasing company you’re looking at. Unless it’s specified, as a general rule of thumb, expect to pay for insurance and maintenance. VED should be rolled into the monthly costs you’re paying, though, but do remember to check.
On the servicing front, given that you might not have the car for long or cover a huge number of miles – and given that we’re talking about EVs, which have lower servicing demands – the servicing costs should be low.
Despite author PJ O’Rourke’s claims that the world’s fastest cars are hire cars, don’t think you aren’t liable for excessive damage a lease car incurs while in your possession. At the end of a lease, an assessor will look over the electric car and judge its wear and tear accordance with the guidelines set by the British Vehicle Rental and Leasing Association.
Mileage is important, too. Leases can be had with different annual mileage, with many falling into a 5,000-10,000-mile range. The higher the mileage limit you choose, the higher the monthly charges tend to be because more mileage on a car speeds up depreciation, and depreciation is effectively what a lease covers.
If you exceed the annual mileage allowance, the lease company will charge you for it when you hand the car back. Unlike wear-and-tear, excess mileage charges are calculated at the discretion of the leasing company and are applied in pence per mile. Make sure you’re aware of these charges and remember to factor them into your potential overall expenditure. And, lastly, don’t forget to consider aspects such as EV charging and running costs.
Our advice? Leasing an electric car can be a great way to run an EV – and a good way to sample the benefits of electric motoring – but do your research, make sure the number stack up, and shop around before you commit.