Mercedes-Benz EQS SUV goes on sale in Germany, prices start at 110,658 euros

More

U.S.-assembled 2023 Volkswagen ID.4 priced from $37,495

More

BMW grows the i4 portfolio with the introduction of the BMW i4 eDrive35

More

UK orders open for the all-new Jeep Grand Cherokee 4xe Plug-In Hybrid

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

Should you lease your first electric vehicle?

EV-Leasing
The vast majority of the motoring public will at some stage have come across the possibility of leasing their vehicle although many of us prefer to buy them out right. The fact that gasoline/diesel cars are pretty much at the forefront of their technology means that buying a vehicle would not necessarily lead to you missing out on significant technological advances. However, is the same principle relevant to electric vehicles?

A recent report in the US suggested that up to 70% of electric vehicles are leased as opposed to 20% of gasoline/diesel vehicles. This is a significant difference in the ownership pattern for electric vehicles although there are a number of reasons why this has happened.

Cost

It is common knowledge that electric vehicles at this moment in time can cost significantly more than their gasoline/diesel counterparts at purchase. The fact that there are significant ongoing cost savings is not always appreciated by the motoring public therefore a number of people have looked to lease their electric vehicle in the short term. If you are unsure about electric vehicles then perhaps leasing is an option you should consider and then move onto your own fully purchased vehicle when prices fall?

The reality is that the cost of any new technology always begins relatively high and then falls as and when technology improves, volumes increase and base prices fall. This is something which the electric vehicle market has yet to hit but it’s something which is certainly on the radar in the medium term.

Technological advances

If you look at the electric vehicle of today and compare it with the electric vehicle of 10 years ago they will be like chalk and cheese. The technology we have today is well advanced from that of 10 years ago, although interestingly many experts believe we have only just scratched the surface of new and improving electric vehicle technology. As technology is moving so quickly in this particular field the likelihood is that there will be significant improvements within 12 months, two years, five years, etc. By leasing your vehicle in the short term you give yourself the potential to switch to a more high-tech vehicle in the longer term when the technological advances will most certainly begin to slow.

One thing which is becoming more and more apparent, and will help electric vehicle motorists in the long-term, is the fact that many electric car manufacturers are now working together. We have seen licensing deals by the likes of Tesla Motors, Nissan and Renault are now interlinked and this is most certainly a trend which is moving industry wide.

Leasing prices

If you take a look at the electric vehicle market you will see some exceptional value in the leasing sector with the likes of Honda, Nissan, General Motors, etc all reducing their leasing prices. Indeed the Honda Fit EV is now a scarce commodity in California after the company reduced the monthly leasing charge leading to higher than expected sales. If leasing is seen as the way forward by electric vehicle manufacturers then we will likely see more competition in this particular area in the short term.

A significant increase in leasing activity will eventually lead to a significant increase in outright sales activity when the trust, technology and efficiency factors start to reach the top end. In the meantime there is every chance that we could see demand for the leasing of electric vehicles improve yet further.

Jul 16, 2013Mark Benson
Cadillac ELR Will Have All-LED Exterior LightingEurope’s Largest Electric Bus Contract Awarded to BYD
You Might Also Like
 
Toshiba to Build Electric Vehicle Motors in Texas
 
Ford Adds New Jobs in Advanced Electrification Center in Dearborn
Mark Benson

Keep in touch with Mark through his web site where you can discuss your questions and queries with the 5,400 strong EV community.

July 16, 2013 Electric Car Newselectric vehicle, electric vehicle leasing, electric vehicles, lease electric vehicle, leasing
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
Recent News
Mercedes-Benz EQS SUV goes on sale in Germany, prices start at 110,658 euros
August 9, 2022
Skoda announces raft of updates and enhancements for ENYAQ iV
August 9, 2022
Audi S1 e-tron quattro Hoonitron to make US debut during Monterey Car Week
August 9, 2022
Lucid Air Shows Its Darker Side with Introduction of New “Stealth Look”
August 8, 2022
Fisker Establishes Process for Qualifying US-Based Fisker Ocean Reservation Holders to Retain Eligibility for $7,500 Federal Tax Credit
August 8, 2022
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
Mercedes-Benz EQS SUV goes on sale in Germany, prices start at 110,658 euros
August 9, 2022
Skoda announces raft of updates and enhancements for ENYAQ iV
August 9, 2022
Audi S1 e-tron quattro Hoonitron to make US debut during Monterey Car Week
August 9, 2022
Subscribe

Sign up for our newsletter to receive the latest news and event postings.

Get in touch

Email: [email protected]

Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
DMCA.com
2021 © ElectricCarsReport.com | All Rights Reserved.