Top 9 Reasons To Lease An Electric Car

When deciding on a new car, buyers often have trouble deciding whether buying or leasing is better. The other big decision car buyers face is whether to get an electric car. Affordable electric car lease deals make leasing an EV an attractive option for many reasons. Here are some of the reasons EV leasing may be the best choice for your car needs.

1. EV Leasing Protects Against Depreciation

We all know that new cars depreciate rather quickly. Electric vehicles are no exception. In fact, EVs tend to depreciate faster than traditionally fueled cars. Why is this good news for leasers? Manufacturers make electric vehicle lease deals by offering low finance rates and raising the residual value of the car at the end of the lease. This offsets the typical depreciation that an EV buyer may face after they own the car a couple years. Of course, the driver can simply return the car and enter into a new lease at the end of the EV lease term. That way, they continue to enjoy all the benefits of driving the newest EVs without the depreciation that car owners face.

2. Be First to Get the Latest Technology

Electric vehicles are still evolving and improving. Drivers who buy their EVs are sure to see advanced technology hit the market while they own their EVs. People leasing EVs can capitalize on EV lease deals on cars with the latest technology. When that lease expires, they can enter in a new electric vehicle lease for a car featuring technology advancements once again.

3. Battery Degradation Is Someone Else’s Problem

The best EV lease deals look even better when you consider the savings the driver receives by not having to worry about battery replacement. Electric vehicles are powered by lithium ion batteries. Use of the EV will cause battery degradation over the years. One manufacturer warns that battery degradation may be as much as 40% over a period of eight years. If an EV lease is a standard two- or three-year lease, battery degradation is minimal with normal use.

4. Always Have the Best EV to Suit Your Driving Needs

If the distance drivers need to drive during a typical day changes drastically, the EV they have purchased may not be up to the task. For example, if the job now requires them to drive to a new location or pick up a different sales route, the EV the driver purchased may leave them searching for charging stations along the way. Driving distance is one of the key factors to consider when purchasing an EV. If the needs change, the person who bought an EV may be put in a difficult situation. However, leasing EVs means that the driver can match the car with their current and expected driving needs. If those needs change over the years, the drivers are likely to find new electric lease deals to fill those needs.

5. Grab Incentives and Bonuses More Often

Manufacturers and car dealerships love to give incentives and bonuses for new car purchases and leases. Typically, the driver enters into new leases more frequently than a car buyer buys a new car. This frequent change in cars has many benefits including the ability to gobble up those new electric car lease deals.

6. Businesses can Expand Easily with Leasing

An electric car business lease gives small- and medium-sized companies affordable options to expand with ease. A business EV lease allows the business to upgrade even on a tight budget. In addition to amazing deals, businesses can reclaim some or possibly all the VAT paid on an EV lease.

7. Get that Great New Car More Often

Some people lease just because they like the feeling of always having a new car. Short lease terms means that person is never far from driving their next new car. If you have always been one to buy a car and hold that same car for many years, why not try the thrill of leasing and getting that brand new car every two to three years? You may enjoy it!

8. Let the Manufacturer Pay for Any Repairs

With a lease, you may never have to worry about car repairs again. Check for an electric vehicle lease that comes with a manufacturer’s warranty that covers the life of the lease. If the lease is a longer term, you may be eligible for an extended warranty. The worry and headaches that come with car repairs may be over.

9. Lower Your Monthly Payment

Buying an EV can be costly. The down payment and monthly payments on a new EV can prevent many people from entering the EV market. However, with EV lease deals, many more people can afford to drive EVs. The lease payments are more likely to fit comfortably in a person’s monthly budget than buying an EV.

How can EV leasing work for you? Come to us to explore your options for leasing a new EV. You won’t be disappointed in the many ways we can help you save money while enjoying the latest technology.