Electric vehicles are increasingly popular, with many manufacturers rolling out the latest EV models rapidly. These cars combine technologies and eco-friendly qualities to provide customers with fantastic driver experiences.
With the huge amounts of electric cars on the market, you might be wondering whether to lease an EV or not.
Read on as we discuss some of the reasons why you should lease an electric car.
Why You Should Lease an Electric Car
The following are some reasons why you should lease an electric car today.
Table of Contents
Lower costs of running
Electric cars run on powerful batteries; therefore, you only have to worry about electricity costs instead of petrol. Electricity is cheaper than petrol, and it is estimated that the cost per mile in an electric vehicle is about three to four times more affordable than one mile in a petrol vehicle.
Leasing an electric car is a great way to reduce running costs while enjoying an enhanced range and state-of-the-art features.
They take longer to charge than filling up your fuel tank, but your pocket will not mind the difference.
In most cases, when you lease an electric car, you receive a home charging kit with an overnight charging option. Also, since electric vehicles are increasingly commonplace, you’ll find more and more charging points set up at supermarkets and public car parks.
Lower depreciation risks
Cars are depreciating commodities, and electric vehicles depreciate even faster than conventional petrol vehicles. To combat this, automakers offer electric car lease contracts with low finance rates while increasing the car’s residual value at the lease’s close.
This eliminates the depreciation associated with EVs, and the driver can return the vehicle at the close of the lease without worrying about the depreciation faced by car owners.
Additionally, due to the high demand for electric vehicles, manufacturers are constantly churning out new models with faster charging, enhanced performance, newer features, and a better range. This lowers the value of older models for persons who purchase EVs, making it easy for leased cars to be bought at the end of their terms.
However, with a car lease, you can enjoy all the perks of the latest models of EVs by simply upgrading to another lease once your current lease is over. This way, you can avoid the economic risks of owning an EV that is surpassed by newer technologies and with limited resale value.
Easy to maintain
Electric vehicles are generally easier to maintain than fuelled vehicles. While you still have to conduct vital safety checks, electric vehicles come with fewer moving parts than traditional cars, lowering the likelihood of damage.
EV brake pads and other parts utilize regenerative braking, which makes them last longer. Most leasing firms allow customers to include servicing or maintenance packages as part of the lease contract. This covers the costs of parts and maintenance.
Maintenance is typically limited to:
- The battery
- Fluid, wipers, and windscreen
Better for the environment
Another reason you should lease an electric vehicle is that it is better for the environment.
Electric cars help lower your carbon footprint since they do not produce high amounts of greenhouse gases like diesel and petrol vehicles.
So, by leasing an electric vehicle, you are helping to reduce environmental pollution because they don’t burn petrol or diesel to enable engine combustion.
Additionally, EV charging points are powered by renewable energy sources like solar, wind, and hydropower. Electric vehicles will still be operational when the world moves on from this oil phase.
In a way, you are investing in the future.
Before EV advancements, it was difficult to cover over 100 miles on one charge in your electric car. However, improvements in EV battery technology have grown in recent years, and customers now worry less about “range anxiety”.
EV car manufacturers like Tesla can cover around 400 miles on a single charge, allowing you to travel long distances without charging.
Other EV manufacturers like Hyundai and Audi e-Tron also offer 259 to 279-mile range vehicles.
Therefore, while the earliest EV market didn’t cover much range, the latest crop of electric cars continues to surpass expectations. They have quickly become the more viable option for drivers.
Electric cars are fast becoming the new norm for drivers. Purchasing an EV is a substantial financial commitment, but you can enjoy the latest electric car models at very affordable costs with a car lease.