Curious about electric cars but not ready for a long-term commitment? Learn about the benefits and drawbacks of short-term leasing an electric car and get tips for making the most of your experience.
Why lease an electric car?
You may be hesitant to make the switch to driving electric due to many concerns, the cost, the lack of charging infrastructure and the range anxiety of certain electric models. If this is the case, then short-term leasing of an electric car could be a great way for you to test out the technology and get an individual assessment of whether it’s right for you, without making any long-term commitments.
The advantages
Electric cars can still be quite pricey in relation to ICE cars, but with an electric car lease, you pay a much smaller monthly fee for the same car. This makes budgeting much simpler in the short term. And let’s not forget about depreciation. All new cars lose value over time, but if you lease an electric car, you won’t have to worry about that.
Extra benefits such as breakdown cover and vehicle tax can be had for a single monthly fee too and are sometimes thrown in with the lease terms.
With a lease, you can then see for yourself, that running an electric vehicle is cheaper than a combustion engine car. In fact, British Gas found that EVs can be up to 70% cheaper to run than combustion vehicles. That’s a significant saving over the long run!
Another advantage of leasing is the flexibility it offers. With short-term leasing, you can try out different electric car models without committing to a long-term contract. This is particularly useful for those who are new to electric cars and are still figuring out which model is right for them.
Finally, short-term leasing of an electric car is a great way to contribute to a healthier planet. By driving an electric car, you’re doing your part to reduce harmful emissions and make a positive impact on the environment.
The drawbacks
However, there are also drawbacks to short-term leasing an electric car. For example, these leases often come with mileage limits, so you may need to be mindful of how far you’re going to be driving the car. Additionally, depending on your location, electric cars may not be widely available for such lease deals, which could limit options.
Another potential drawback is the need to plan routes carefully to ensure you have access to charging stations, especially if you don’t have a home charger installed. While the charging infrastructure for electric cars is improving all the time, it can still be a concern for those who are new to driving electric.
Finally, short-term leasing does not offer the same ownership benefits that come with buying a car, including the ability to sell the car for a profit. This means that leasing may not be the best option for those who are looking to make a long-term investment.
Short-term leases in particular localities
As a member of Co-Wheels car club, you can use an online booking system to easily reserve any of their vehicles with just a few clicks, just hop in and go! You’re covered for insurance, cleaning, servicing, and even refuelling as long as you make sure you leave at least a quarter tank for the next driver.
With Co-Cars you only pay for the hours you drive, plus the mileage, with a 24/7 network of vehicles just a stone’s throw from you. they’re committed to a sustainable future. The fleet is composed of electric and low-emission vehicles, so you can enjoy the thrill of the open road without harming the planet.
At TripTo, they’re not just providing access to electric vehicles, but revolutionizing the way we charge them too, by installing local electric charge points, so you can recharge the cars easily when not in use. Membership has grown in a number of towns served, with more vehicles being added to meet the demand. More and more people are taking a stand against climate change and air pollution by ditching their petrol cars and hopping into shared electric vehicles.
Subscription services
Now, you might already know that subscriptions are a pretty simple concept, you pay a monthly fee and get access to a car without actually owning it. Plus, with most subscriptions only lasting a few months, you can try out an electric car and see if it’s a good fit for you. Subscriptions work like leasing, except it bundles a lot more services into one fixed monthly cost.
For example, Cupra, the SEAT offshoot offers a subscription for their Born electric car. For the £699 monthly fee you get insurance, roadside assistance and maintenance included.
With Genesis Flexibility you can get an 18-month term for a G80 2.2D RWD Premium for £715.00.
Mocean from Hyundai, includes insurance, maintenance, road tax, and roadside assistance. Prices start at an incredible £419 for a KONA ELECTRIC SE CONNECT 39KWH MY23.
Through Care by Volvo, you can get a Volvo C40 Recharge Core for under £700 per month, and the longer the contract, the better the deal.
Pivotal from Jaguar/Land Rover is another option, offering the Discovery Sport, Jaguar F-PACE or Range Rover Evoque with prices starting from around £850 per month.
Third-party car subscriptions
Elmo only does electric cars. Its options are well-priced compared with larger companies, and its range is improving. You can get a FIAT 500e Icon 42kWh from £429/mo for a 12-month term, which includes insurance, servicing and maintenance, breakdown cover, tax, congestion charge autopay and a carbon offset donation.
Onto is different from other providers as it bundles the cost of public charging into the monthly payment via key partnerships with providers of charge points. For example, a Branded Fiat 500
Icon Hatchback comes with Insurance & road tax, breakdown cover & servicing for £339 /month
without charging and for £399 /month with charging at their 14,000 plus public chargers.
Short-term leasing of an electric car is a great way to experience the benefits of driving an electric car without committing to a long-term contract. However, it’s important to weigh the advantages and drawbacks carefully to determine whether short-term leasing is right for you.
