OVL Lease Blog

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What are the advantages of leasing an EV from a ‘new’ manufacturer?

21/02/2024

What are the advantages of leasing an EV from a ‘new’ manufacturer?

Remember when Tesla was the ‘new kid on the block’? It was the Spring of 2014 when the Tesla was first available as a right-hand drive in the UK – 10 years later you can barely stop at the traffic lights without seeing one.

Fast-forward to 2024 and we are seeing more new manufacturers entering the UK market – primarily Chinese brands such as BYD and also the American manufacturer Fisker, that are offering some fantastic all-electric options to UK drivers. We get that there may be some hesitance to take a chance on an unknown badge but there are lots of advantages, none more so that when you choose to lease because you are not buying the car and having to think about depreciation. Also, by leasing, you are able to take out a cost-effective maintenance package, another great plus.

We’ve explored some of the advantages here

  • Generally speaking, these new to UK manufacturers’ electric cars are incredibly affordable. Their prices can be comparable to those of petrol-driven cars, giving you a great value for your money. At the time of writing (January 2024) a BYD all electric ATTO, which has a range of 261 miles is available to lease from £296.99 + VAT
  • Electric cars are very efficient. They don’t consume a lot of energy, which translates to lower electricity bills. The tech expertise in China in particular, is amazing and should definitely not be underestimated.
  • As with all electric cars, these models require minimal maintenance because you don’t need to worry about replacing the oil or spark plugs, as well as other costly repairs. A lease with maintenance plan gives even more peace of mind.
  • New electric cars are incredibly safe to drive. They come with a range of safety features, and you’ll never have to worry about engine fires or other related issues.
  • You’ll be a leader, not a follower! Although some customers have a clear idea of what car they want to drive, there is definitely such a thing as brand loyalty, many simply want an efficient, affordable car with great range – there really is no reason not to try something different.

Some other ‘ones to watch’ include:

BAIC Motor Corporation: BAIC has a range of electric cars and specializes in advanced fuel-cell vehicles.

GAC Motor: This company is a subsidiary of GAC Group, and it produces electric, hybrid, and fuel-cell vehicles under the Aion brand.

Fisker:  Fisker Automotive is an American company founded in 2007. The Fisker Karma, was one of the world's first production luxury plug-in hybrid electric vehicles. Available in the UK today the Fisker Ocean has a revolutionary full-length SolarSky roof, you can harvest the sun's rays to generate free energy! Very cool. We are expecting a demo soon so watch this space for our review of driving this EV.

As with any lease decision you should think about:

Range: How far can the car travel before needing a recharge?

Whole Life Cost: Never just look at the monthly rental price – also factor in the cost to charge and maintain. 

Charging: The charging infrastructure in the UK is growing all the time  but it is worth considering if you will be charging at home or work and that there are adequate charging stations on your regular routes.

Our team is here to help you with your decision and run through considerations of Whole Life Cost and more with you – why not contact us and get a FREE consultation to help with your next car decision.

01491 615500

sales@ovl.co.uk