Thinking of leasing an EV

johnbhoy70

Good morning guys.

Need another car for the wife and i'm coming round to the idea of leasing a new Corsa Ultimate EV even though we could stretch to a 3 year old second hand outright but as it would be first experience leasing and of EV I'm tempted to keep my funds  as we've possibly got a few outgoings coming up next few months.

She's in a new role  in NHS and working week is not very structured yet with regards to meetings,etc. We're almost 99% she doesn't qualify for salary sacrifice but not overly fussed about that tbh. We're pretty sure 8k will cover the commute for the days she needs to go in and the weekend stuff with the kids etc. If it gets close she could always use mine as a backup. Not ideal but it's an option. The couple of quotes i've had and looked at from leasing.com are between £180 and £200 per month for 8k over 2 years if we go with bigger deposit (12 months payments) at start.

Quote-

They show P11D value (list?) as approx 32,985. Looks a bit high to me but hey i haven't a clue.

Initial rental £2185.38 followed by 23 x £182.11. 

Not paying bigger deposit and just paying the initial month would make it approx £144 more  over term i think. 

A lot of things to consider tbh but my initial thoughts are-

Bigger deposit would require GAP insurance back to start. I've read on here ALA are very good and it shouldn't be excessive cost wise. 

Maintenance package.  They offer this at £19.25 per month extra and i'm in a bit of a quandry with this one especially with our recent luck with our old cars. I think the service schedule for this car is 8k and then after another 16k. So i would get away with 1 service over 2 year lease but not sure if i'd be cheaper getting a local dealer to just do one over term. Also read i need to be careful what's actually included in these things. 

Charging/ charging point- I'm currently with EON NEXT on price pledge but i think we would just jump on to one of their EV deals. I think i'm looking at about in region of 1k for a home point and with our own driveway don't qualify for anything towards it. 

Any thoughts would be great and apologies for the longish post but my head is swimming with stuff and just wanted to get them down as we need to do this pretty quickly because of our lifestyle. 

sheslookinhot

Consider minimum (3 months) initial rental. No need to be giving your savings away.

Badboi

Be aware the service intervals will be mileage OR time based, whichever is shortest (typically an annual service time period is set for the car) 

johnbhoy70

Thanks for the comments so far guys. I think this Corsa is service at 8k or 1 year and then every 16k or 2 years after, again whatever first. That's why i'm not sure over a 2 year deal at 8k miles per year  a maintenance package with them would provide value as opposed to a one-off at an authorised dealer. I'll need to shop about. 

Also, with regards to comment about initial payment. The options are 1,3,6,9 and 12 months. I''l double check but i think the overall cost difference between the extremes of 1 month down payment and 12 was only circa £150 over term so not a huge differential tbh. Thanks again for the replies

WellKnownSid

If mileage is marginal, up it to, say, a more realistic 10k+ and see what the quote is. Pointless paying for a car you can’t use.

If they are keen (it is a £32,000 Corsa!) the figures may be reasonable.  I once got a new 208 up from a quoted 5k to 15k miles a year and it was less than £20 a month extra.

johnbhoy70

WellKnownSid said:

If mileage is marginal, up it to, say, a more realistic 10k+ and see what the quote is. Pointless paying for a car you can’t use.

If they are keen (it is a £32,000 Corsa!) the figures may be reasonable.  I once got a new 208 up from a quoted 5k to 15k miles a year and it was less than £20 a month extra.

Thanks Sid. True. Based on the info we have just now i think 8k would be fairly comfy. Plus if in the unlikely event it came close then mine would be a backup. Would be inconvenient not majorly so. Very interesting point you make though as with all the info i'm taking in i hadn't considered mileage as a negotiation tool. That'll be why said to me on the phone he could raise mileage but not lower when he emailed quotes. Glad i started on the low side,

johnbhoy70

Actually just back from our local Vauxhall dealership for a browse and spoke to a guy for a while. I showed him my quotes and he's getting back to me. When i mentioned maintenance he mentioned first service with them was only £54 as most times they're barely doing anything. That would be compared to package in deal of nearly £500. So many factors like driving style,etc come into play there though and it would be our first EV so a bit of unknown there tbh

born_again

Brand new Corse e £19.995
On Autotrader.
If looking at any Stellantis EV. Check Autotrader. Massive savings can be had over list form their dealer.

johnbhoy70

Thanks eventually found it. Yeah guy we spoke to today i think said one pre-reg forecourt today had depreciated down to approx 18/19k from 32k odd. 

Even if we lose out slightly financially on a lease deal as opposed to residual value after 2 years when  buying then we're not too fussed as it's a trial into the world of leasing and EV's. 

WellKnownSid

johnbhoy70 said:

When i mentioned maintenance he mentioned first service with them was only £54 as most times they're barely doing anything. That would be compared to package in deal of nearly £500. So many factors like driving style,etc come into play there though and it would be our first EV so a bit of unknown there tbh

Did you actually have a test drive?  24 months is a long time with a car you find uncomfortable or impractical - always worth checking.

Not sure I understand the 'factors like driving style come into play there' comment - the first service is going to be a new cabin filter.  The second service is going to be a new cabin filter and they might grease the doors.  The third service is going to be another cabin filter...

If you want your brakes to last ten years, try to use them at least once a week.

johnbhoy70

No we actually didn't. I wasn't actually sure they'd be open when we turned up. It was more just to show my wife the car. I think it would just be a first service on that particular car if we hand back below 16 k miles and under 2 years. I'm guessing if we went 3 years we could be looking at MOT and second service depending on registration date. Just get it collected earlier/ on time  to avoid that I assume. I think schedule is 8k/ 1 year and then every 16k/ 2 years after that. 

With regards to driving style all I meant was I had heard braking can maybe take a bit of getting used with regards to battery charge. All new to this tbh. Thanks for replying by the way