Welcome to DrivingElectric’s information to leasing an electrical or hybrid automobile within the UK. The instances when folks would raid their metaphorical piggy financial institution to pay for a automobile are lengthy gone.
Nowadays, finance is king, and whereas Private Contract Buy (or PCP for brief) stays extremely popular, patrons are more and more turning to leasing as an easier and extra reasonably priced option to get a brand-new automobile on their driveway each two or three years.
There is no future worth, balloon cost or rate of interest to fret about: you merely make a hard and fast month-to-month cost each month during a set time period and drive the automobile as should you personal it – though you by no means do. As soon as the time period is up, you merely hand the automobile again to the leasing agency, and may then begin once more with a brand new deal on a brand new automobile.
You’re anticipated to maintain the automobile in good situation, get it serviced when wanted and stick with an agreed most yearly mileage, however when you’re clear on these factors from the outset and are comfortable the month-to-month funds suit your price range, there are few downsides to leasing.
For a extra detailed breakdown of the method, learn our explainer on how automobile leasing works, then try our usually up to date rundowns of the perfect electrical automobile lease offers and finest hybrid-car lease offers on provide within the UK proper now.