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Leasing a battery electric vehicle (BEV) is on average 18% cheaper than funding a new vehicle on personal contract purchase (PCP).
According to 2022 pricing data across Leasing.com’s top 15 most popular BEVs, leasing was the cheapest and most cost-effective option on 13 of those models.
Across the list, the highest cost difference was 31%, with the average difference in cost being 18%.
The highest saving came in at £9,108 for Audi’s all electric e-Tron, with the average saving across the board netting out at £2,313.58.
One key example used as a benchmark for the BEV market is the Tesla Model 3. The Tesla has a list price of £42,935, however, when leased over four years, the total cost comes in at £25,445.77. Compare that against a PCP cost of £30,384, and leasing will save drivers 19% over the life of the contract.
The largest saving overall though, was found when comparing costs for an Audi E-Tron. On PCP, the Audi works out at a total cost of £43,420.14 at the end of a 48-month contract. On lease, the same make and model comes in at a total cost of £34,311.50. A total saving of £9,108.64.
An interesting headline and, of course, this result does not take into account variables such as costs for refurbishment prior to handback on a lease or indeed, more importantly, any equity on a PCP deal. A little misleading then if not put in the right context. Imagine the situation if you had taken a lease out 3 years ago compared to a PCP. You would be significantly better off now if you had taken a PCP given the 30% inflation on used car prices.