The demand for electric cars, trucks, and SUVs is on the rise as drivers seek alternatives to expensive gasoline. Automakers are responding to this trend by introducing new electric vehicle models at a fast pace.
When considering an electric vehicle, a crucial choice is whether to go for an electric car lease or purchase it. While all car buyers face this decision, it can be more complex for electric vehicles.
So, if you are getting an electric car, is it a good idea to lease one? Keep reading till the end to know.
What do you mean by Leasing an Electric Car?
Leasing an electric car refers to a type of vehicle financing arrangement wherein you rent the car for a specific period, like 1 to 3 years and pay for it monthly. You don’t own the car when you lease, but you get to use it during the said period. The lease service provider will set a mileage limit for you; you may have to pay an additional fee for exceeding this limit.
When the lease term ends, you may buy the car outright, extend the lease, create a new lease, or return the car ultimately. The concept of leasing an electric car is growing in popularity as it is a cost-effective option among most car buyers. Also, people who want to drive a new car often may find this option beneficial.
Reasons To Lease an Electric Car
With electric cars’ rising popularity, many wonder if leasing is better than buying them outright. So, here are a few reasons why electric car subscription is a good idea.
Experience Faster Vehicle Upgrades
Conventional cars tend to undergo minimal changes from year to year, but the technology that goes into electric vehicles is advancing at an unprecedented rate. Leasing an electric vehicle allows you to upgrade to a new car every two to three years, which means you can benefit from improved battery durability, range, and other features.
You Can Remain at the Cutting Edge
An Electric car subscription allows you to upgrade to the latest technology immediately after your current lease expires. All you need to do is return your old car to the original dealer or any other franchised dealership of the same brand. You can then negotiate a lease on an updated model and enjoy the newest features and capabilities.
Avoid Battery/Warranty Issues
Lease a car on Quiklyz to get lease agreements for electric vehicles that typically span two or three years. During this period, it is unlikely that you will encounter any issues that are not covered by the automaker’s new vehicle warranty. Owning a vehicle for a longer period increases the risk of being responsible for an out-of-warranty repair bill.
Avoid Depreciation of a New Car
The high demand for electric cars, especially in the used car market, has resulted in many models retaining their value remarkably well. However, when you choose an EV car subscription, you don’t have to concern yourself with depreciation, and the models can be offered at much more competitive rates.
Reduced Running Costs of an EV
A major advantage of owning a battery-powered car is its low operating expenses, aside from the advantages of leasing over buying an EV. Charging your electric vehicle at home or using public charging stations, frequently located in supermarkets, can lead to significant savings. Additionally, electric car owners are exempt from paying vehicle tax with EV car lease and can avoid charges in emission-free zones.
Electric cars have another significant advantage in their easy maintenance. While you still need to perform essential safety checks and monitor tyre pressure, electric vehicles have considerably fewer moving components than traditional petrol or diesel vehicles, which reduces the probability of mechanical issues. Servicing an electric vehicle is also cost-effective, and many leasing companies allow you to include maintenance in your monthly EV car subscription payment.
Acquiring a new car can be a significant financial burden, particularly if you want to drive the latest model or need a vehicle that fits your professional or business requirements. Leasing offers the most affordable way to get a brand-new car, enabling you to pay a low initial payment and monthly rentals instead of paying tens of thousands upfront or burdening your business with an asset it may not be able to afford in the future. Whether your company requires a single car or a fleet of electric vehicles, leasing is an ideal option to budget for, thanks to fixed monthly payments. Additionally, employees who drive electric vehicles can benefit from reduced company car tax payments in the coming years.
As electric cars become increasingly popular in the motoring industry, now is an ideal time to consider leasing one. Electric vehicles offer reduced costs, advanced technology, and excellent environmental benefits, but are these factors enough to persuade you to drive one? Lease a car on Quiklyz which provides a perfect opportunity to explore the benefits of electric vehicles, with access to the latest models equipped with state-of-the-art tech features, including an enhanced battery range. EV car lease enables you to try something new without over-committing yourself.