Got questions about electric cars and home chargers? We’ve got you. Here we’ll answer all your questions so you can hit the road with your new car.
Are electric cars cheaper to lease?
Electric vehicles (or EVs) use newer technology than internal-combustion engines. This makes EVs a little more expensive to lease, compared to petrol or diesel models. However, that’s not to say that leasing an EV is expensive.
The overall cost of electric cars is coming down all the time. Within the next year or so we can expect the price difference between electric cars and diesel or petrol models to be pretty much the same. The electric version of the popular Peugeot 208 is available for around £320 per month.
In comparison, it’ll set you back around £235 a month if you want to lease the entry-level petrol version. That’s before you’ve factored in the reduced fuel costs.
While upfront electric car costs can be more expensive, this is offset by cheaper day-to-day running costs. Charging an EV at home is the best way to save more. Plus, you have less frequent and lower servicing costs.
So, how much can you save charging at home? It depends on the electric car you drive and the size of the battery, but it can cost from £2-4 during ‘off-peak’ hours, or as much as £25 for large batteries during peak times. Peak hours are usually between 7 am and 11 pm.
If you usually spend around £200 per month on petrol, you may find yourself saving a significant amount of money on fuel. These savings could be put towards your monthly lease costs, allowing you to afford a larger or more premium electric car.
How to save money on EV leasing
Looking at the whole picture, electric vehicles offer outstanding value over the long-term. They offer drivers a cheaper and more efficient way of getting around.
As the choice of electric cars available to lease increases, so do the number of leasing offers. So whether you’re looking for a Tesla Model Y lease, an MG ZS lease or a Volkswagen ID3 lease, we’ve got you covered.
Electric vehicle home charging
If you’re looking to lease an electric car, one of the most important factors to consider is charging. For the best EV experience, you’ll want to know you can charge easily and inexpensively.
We’ve partnered with Rightcharge, an EV charger comparison website. Rightcharge is the simple way to sort your home charging and save money. First, they recommend the right home charger and let you book a trusted installer in your local area.
Then, they find you the best energy deal - pulling these tricky tasks into one seamless place and unlocking hidden savings.
Simply select your make and model of car, Rightcharge will help you with the rest.
To find the perfect home charger and EV-friendly tariff, click on the link below.
Book your charger installation
Saving money with your home EV charger
In addition to saving on your home EV charger cost and installation, you can also make savings by utilising the features of certain home chargers.
By comparing installation costs in your local area with Rightcharge, you avoid unnecessary fees associated with your charger installation. Instead, you get the best deal on your installation. Which will be carried out by our hand-picked network of Government-approved installers.
All home EV chargers must now be equipped with ‘smart charging’ features. Smart charging means you can schedule charging to happen during what’s called the ‘off-peak’ period - usually between 10pm and 8am.
And with the right energy tariff, ‘off-peak’ electricity costs much less.
Every charge point and tariff Rightcharge recommend lets you schedule your charging, so you can start saving money.
You can make savings of up to £10 per charge on selected models.
As we mentioned above the electricity tariff you are on can make a big difference. So, as with all household bills, it pays to shop around. Going for the cheapest off-peak tariff could be an option for most EV owners, but it’s also worth considering where you’ll be keeping the car.
Will you be charging at home, or will you have access to charge points at your workplace?
If you work irregular hours and are unlikely to be home during standard off peak hours selecting an overall lower price tariff during peak hours may be the way to go.
How to pick the right EV?
Choosing the right EV will depend on your budget, your preferred body style, driving style and tastes. The availability of electric vehicles available in the UK continues to grow,
and with tens of new models and variants confirmed for the coming years, motorists will soon be spoilt for choice. As well as established electric car manufacturers such as Tesla,
new EV manufacturers such as Polestar and Volkswagen’s dedicated EV brand, ID, are helping to bring electric car lease deals to the mainstream.
Manufacturers like Tesla who led the way in the early years of the EV revolution are still strong players, but new manufacturers are entering the market and established car manufacturers are bringing their latest EV’s into production.
Polestar, MG with its budget conscious models and Volkswagen’s dedicated EV brand, ID, are helping to bring electric car lease deals to the mainstream.
There are three types of electric vehicle on the market:
Battery electric vehicles (BEVs): also known as pure electric cars. These are the cleanest cars on the road and generally powered entirely by a rechargeable electric battery. BEV drivers can charge their car at home or at one of the UK’s growing number of public charge points.
Hybrid electric vehicles (HEVs): this hybrid car uses more than one source of power. A HEV typically combines an electric battery with a conventional petrol or diesel engine. The engine will usually also charge the electric battery meaning that you don’t have to manually recharge the battery, although the battery range in hybrid cars may be limited.
Plug-in hybrid electric vehicles (PHEVs): a plug-in hybrid car combines a battery and electrical motor with an economical petrol or diesel engine. The electric battery is typically used on shorter journeys only before the conventional engine kicks in during longer journeys. However, because the electric battery can be plugged-in and recharged at home or public charge points between trips, the electric range of plug-ins is often longer than hybrid cars.
Here at Leasing.com we make searching and comparing leasing offers on BEV, hybrid and plug-in electric cars simple. Start your search here.
Do all electric cars use the same plug?
No, home chargers for electric vehicles will use what is known as a ‘Type 1’ or ‘Type 2’ plug. Type 1 plugs are most commonly found on older electric vehicles and Type 2 plugs are found on all new EV models released after 2018.
Popular EVs that use a Type 1 plug:
Nissan Leaf (to 2017 model)
Mitsubishi Outlander PHEV
Popular EVs that use a Type 2 plug:
Nissan Leaf (2018)
An untethered charger (one that doesn’t come with a prefixed cable) is recommended to charge an EV at home if you drive a car that uses a Type 1 plug as your next new car is likely to come with a Type 2 plug.
Not having a prefixed cable already attached to your charger will save you having to replace your entire charger when you change your car.
An untethered charger is also recommended if your car has a Type 2 plug, because of the increased flexibility it provides. Particularly with shorter term leasing deals, when you come to change or upgrade your electric car, you can easily upgrade to the latest plug type as technology advances.
Got more questions about your home charging options? EV experts are just a phone call away. Get in touch with the Rightcharge team.