EV Leasing For First-Time Electric Drivers: What To Expect

EV Leasing For First-Time Electric Drivers: What To Expect

Electric vehicles (EVs) are an unstoppable phenomenon which are gradually taking over the motor vehicle market. Inevitably they are the future of motor vehicles and although they already represent one of the biggest technology shifts the industry has ever seen, the development of EVs is still ongoing, very fluid, and very exciting. As a progressive vehicle driver you may be looking to make driving affordable and convenient, while at the same time benefitting from zero emission driving and new technology, which makes leasing electric vehicles a great option for you. But as a first-time EV driver, this transition can be daunting.

The challenges posed by transitioning away from petrol and diesel vehicles

Many people don’t like change and often take the safest option, particularly with something as everyday and commonplace as driving a car. After all, our car is vital to us, for business, family and lifestyle needs. Range anxiety is a big issue for people reluctant to make the switch to EVs. We are used to pulling up at a petrol station and filling the tank as much or as little as we need, and we know how long that will last us. The thought of running out of battery charge in an EV terrifies us, particularly as we don’t know where the nearest charging station is, or how much charge we will need to get to where we need to be.

We have also heard about the large upfront cost of purchasing an EV. As a developing technology, this cost is gradually coming down, but currently isn’t at the level we can justifiably afford. Which is a frustration because we have climate concerns and want to do our bit to reduce climate change via a zero-emission EV. The solution to range anxiety is learning about battery sizes, the UK charging network and options for home and workplace charging, and then taking the plunge on EV driving. And the solution to large upfront costs is EV leasing.

The benefits of EV leasing

When assessing the benefits of EV leasing as someone new to both EV driving and vehicle leasing, you are looking at two separate things; the benefits of EV driving and the benefits of car leasing. So let’s do just that. The benefits of EV driving include:

• Zero emission driving

• New and exciting technology (vehicle performance, safety features and in-car tech) that is still improving

• Lower everyday fuel costs compared to petrol and diesel cars

• Lower service and maintenance costs due to fewer moving parts and simpler vehicle design and construction

• Grants and incentives to make the switch to EV driving

• An expanding UK charging network, plus options to install home chargers or use workplace chargers

• All major motor brands now include EVs in their core range

• The benefits of EV leasing, rather than purchasing an EV include:

• Lower upfront cost – usually you just pay a deposit which is equal to 3-6 month’s leasing fee

• You are always driving a brand new vehicle and benefitting from the latest technology

• Affordable monthly payments

• Flexibility over the length of your lease term

• No depreciation or disposal worries as you don’t own the car and can hand it back at the end of the lease

How leasing works

The leasing process is very simple. With a Pink Car Leasing EV leasing agreement you:

• Choose a vehicle

• Pay a deposit

• Agree a lease term

• Agree an annual mileage (this is how the leasing company calculates the depreciation value)

• Agree a service and maintenance package

• Enjoy exclusive use of the vehicle for the duration of the lease term

• Return the vehicle at the end of the lease with the option to choose a brand new vehicle for another lease agreement.

It really is a very simple process and our experts at Pink Car Leasing can talk you through the benefits of car leasing and how it works.

What to look out for when considering the switch to EV leasing

However, there are some things to consider as a first-time EV driver who is also moving into car leasing:

• The contract – Make sure you understand what is included in the leasing contract and what isn’t. For example, insurance isn’t usually included and you will have to arrange this yourself, but road tax usually is.

• Mileage – Keep a record of your mileage and monitor this against your limit restrictions. If you exceed these restrictions you could face extra charges.

• Wear and tear – At the end of the lease you could face extra charges if there is excessive wear and tear to the vehicle. The detail of what is deemed ‘excessive’ will normally be included in the contract.

• Range – Just like with petrol and diesel vehicles, your driver behaviour can influence how much battery charge is used for a journey and therefore what kind of driving is fuel-efficient. It will take some time to adjust your routines and perhaps lifestyle to adapt to EV driving, but this is very quickly achievable. If you have a home charger you can leave the vehicle charging overnight on a cheaper electricity tariff. Or you may have the option of charging the vehicle while at work. You can also learn about your local charging network and start to charge the vehicle while shopping, or at the gym. Range anxiety is the biggest obstacle for many people but is easily overcome with research and a small amount of adaptability.

Contact Pink Car Leasing for help with EV leasing for the first time

If you are attracted by the sustainable, quiet, comfortable and tech-heavy image of EV driving, then there are no barriers to making the switch to EV driving. At Pink Car Leasing we have some of the best EV leasing deals in the UK, so talk to our experts about the leasing process and the benefits of EV leasing and make the switch today.