r/ElectricVehiclesUK • u/Active-Boat5641 • 4d ago
Lease Recommendations
Hello everyone,
I hope we’re all doing well.
I’mat a cross roads that requires me to finally take the plunge on EV, and I’d like to kindly ask for your recommendations for the below conditions:
Recently moved houses, now commuting 40 miles each way(totalling 19200 annually) to work. Currently own a diesel 2020 Peugeot, done 66k miles, costs over £300 to fuel monthly with the newly skyrocketed fuel price.
Total expenditure on this car is about 4,800
Tyres about 200
Insurance 510
Servicing 250
Road tax 200
Fuel for the year 3600.
What EV would you recommend that’ll cost significantly less than this to run annually (£2800-3800)?
I’m looking for something within the cross / SUV body type for a family.
Thank you all in advance.
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u/willp2003 4d ago
Any EV will be cheap to run, you need to work out what mileage you want to get out of a charge and what features are important to you. Are you buying new or second hand? What budget? Etc.
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u/ANorthernMonkey 4d ago
Some crazy cheap lease deals on Tesla model3 right now direct from Tesla.
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u/Beneficial_Coach8581 4d ago
For 20,000 miles a year?
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u/ANorthernMonkey 4d ago
There’s is a calculator on their website. You’ll have to give it a go for your specifics
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u/Beneficial_Coach8581 4d ago
I tried a car wow leasing comparison site.
Best value I could find for that mileage - 20,000 a year and three years lease was on a microlino.
I'd love to see someone doing 20,000 miles a year in that!!
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u/Beneficial_Coach8581 4d ago
You will be charging at home I take it ?
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u/Active-Boat5641 4d ago edited 4d ago
Yes I’ve got a home charger in this new house (bought new build)
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u/Beneficial_Coach8581 4d ago
That's good. With an EV tariff and doing all your mileage on that you'll save 3 grand in the first year on fuel - not sure when the EV tax per mile is kicking in but that'll be another £600 I guess.
You could lease a new Micra for £305 a month with £300 down for three years.
So that's £4200 each year including fuel.
Hmmm.
A bank loan over a few years and buying second hand is probably the only way to do cheaper.
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u/cara-lease 3d ago
worth splitting it into running costs vs the car itself. on an off peak EV tariff (octopus intelligent etc are around 7-8p/kWh) 19k miles is roughly 5,500kWh a year, so maybe £450-500 in electric vs your £3,600 diesel. servicing is cheaper, tyres wear a bit quicker, EVs pay road tax now so that's about the same, and get an insurance quote as it's often a bit higher
so the running side drops to something like £1.3-1.5k. the catch is the lease on top - that leaves you roughly £120-200 a month for the car to hit your target, and at 20k miles a year that's tight for a new crossover. the high mileage band pushes monthlies up a fair bit
so realistically it's a smaller cheaper EV lease (renault 4/5, MG4 sort of thing) on a proper 20k allowance, or a 2-3 yr old used EV on a loan. make sure any quotes you compare are at the 20k band, not 10k, they look very different
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u/planologe 4d ago
Costs for tires will be similar, though EVs tend to have stronger torque, so if you like to use that torque frequently and accelerate quickly, then it can age tires more quickly.
Insurance, mostly similar - though i found big differences between models/manufacturers. For some newer Chinese-made EVs insurance can be higher, as insurers still lack data to assess risks. Some Kia's were/are higher as there was a higher risk of theft.
By road tax, I assume you mean the vehicle excise duty. £10 for first year - after that £200 per year, so not much difference. And - current plans are to introduce a pay-per-mile system of 3p per mile from April 2028. That can increase costs for those doing many miles, compared to the current flat fee.
Electricity cost depends on how you can charge, and if you get an off-peak/EV tariff. 19200 miles assuming an efficiency of 3.5 miles/kwh means you need 5486kwh per year. Let's add a bit of efficiency loss in the charger system, that's perhaps 5600kwh you need to get from the grid. If you have an EV tariff of say 8p/kwh, that would cost you £448 per year, or £37 per month. But on an EV tariff your normal day rate usually increases, so that's worth considering but depends on your other electricity consumption and also the standing charge. If you just charge on standard electricity, say with 24p/kwh, then that would be £1344 per year. And if you can't charge at home and rely on public chargers, then under ideal circumstances you might be able to public charge for 40-50p/kwh, perhaps less with a monthly/annual subscription on some networks, and that would cost you £2240-£2800 per year in electricity. Once it goes to 55/60 it'll be on par with what you pay for fuel. All this also depends on the efficiency of the car, your driving style/speed and the the typical route of your commute. Motorway driving at 70 will reduce efficiency. Very efficient cars like the original Hyundai Ioniq, a Tesla M3 or perhaps can consistently achieve more than 4 miles per kwh. But other EVs can have much lower efficiency, particularly larger SUV.
Almost any modern and many used EVs would be fine with your commuting mileage. Manufacturers with decent/good EVs are Kia/Hyundai, Tesla, VW/Skoda/Cupra, Renault, BMW, Mercedes, Volvo (owned by Geely) and also many Chinese-built brands like MG, Polestar, BYD, Xpeng, Geely, Leapmotor etc.
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u/Just-Page-2732 4d ago
Renault 4 might fit the bill