EVs hit price parity with petrol on monthly lease - Octopus

MANY electric car models now cost the same as – or even less than – petrol cars on a monthly lease according to according to EV specialist Octopus Electric Vehicles

Prices were compared between Octopus Electric Vehicles and Leasing.com. Based on a 48-month lease term, 3 months upfront and 5,000 miles per annum. The median monthly lease price for an EV is now £369, compared with £409 for the median petrol car.

Autotrader data recently showed that new electric cars are now cheaper than petrol on average for the first time.

“This is a real line-in-the-sand moment for drivers. For years, people assumed EVs were the expensive option – but the market has changed dramatically.”

Gurjeet Grewal, CEO, Octopus Electric Vehicles Tweet

“Today, many electric cars are cheaper to lease than petrol, diesel or hybrid alternatives. And when you add lower charging and maintenance costs, the savings become even clearer. With petrol prices rising again, more drivers are looking for ways to cut costs and future-proof their finances. There’s never been a better time to make the switch.”

Octopus says that drivers can now go electric and save upwards of £1,600 over the course of their lease on monthly payments in additional to avoiding volatile petrol prices and benefiting from lower running costs.

Octopus Electric Vehicles also bundles in added extras such as servicing, maintenance, repairs and a discounted home charger.

Popular EVs now beating petrol rivals on price

Model	Monthly lease	Petrol / Hybrid equivalent	Monthly lease	Total lease saving
Dacia Spring EV	£199	Dacia Sandero	£225	£1,248
Vauxhall Frontera EV	£279	Vauxhall Frontera Hybrid	£303	£1,152
Citroën ë-C3	£279	Citroën C3	£294	£720