NATIONWIDE Vehicle Contracts has launched a used electric vehicle (EV) business contract hire (BCH) proposition, with exclusive stock provided by Lex Autolease.
The Manchester-based broker expects to feature deals on high-end BEVs that are especially popular with business users, including the Audi e-tron, BMW i4, Jaguar I-PACE, Mercedes-Benz EQA, Tesla Model 3 and Y, and Volvo XC40 Electric.
Nationwide will also cater for drivers who use their company car for both business and family purposes with vehicles such as the Hyundai IONIQ 5, Vauxhall Mokka-e, Hyundai KONA, and Nissan LEAF.
Up to 40% take up on used PCH
The BCH proposition follows the success of Nationwide’s used personal contract hire (PCH) product, which has seen BEVs consistently represent around 16% of Nationwide’s contracts, with peaks of up to 40% in some months.
All vehicles under Nationwide’s used EV leasing programme with Lex Autolease, a Broker News partner, have a four-year/50,000 miles limit and most are approximately three-years/30,000 miles. When customers enquire, they are provided with the specific age and mileage of the vehicle they are considering.
Additionally, Nationwide offers image packs for each vehicle, allowing customers to view the car before placing an order. Each vehicle’s pricing is adjusted based on its condition to ensure fairness and value.
Cost-effective option for businesses
Nationwide believes that competitive pricing, the availability of desirable stock compared to new EVs and inclusive comprehensive maintenance packages, which cover both servicing and breakdown cover, will make its used EV BCH offering attractive to businesses.
“We’re excited to roll out our new, electric business contract hire used proposition, building on the great results we’ve seen with our personal contract hire used scheme. This move came together perfectly with Lex Autolease bringing us an opportunity we just couldn’t pass up — exclusive access to some fantastic used electric vehicles. It’s really about giving our customers what they want and need, especially businesses looking for cost-effective and sustainable vehicle options. The interest we’ve seen so far is very encouraging and we’re eager to see how this new venture helps us grow and continue to meet the evolving needs of our customers.”
Lex Autolease to roll out used EV leasing proposition to more brokers
The deal between Nationwide and Lex Autolease is part of the broker funder’s plans to enhance confidence in EVs and it will be rolling out its used EV leasing proposition to more brokers.
“We are investing in initiatives that educate customers, dispel myths, and use data to highlight the real-world benefits of EVs. Our brokers play a crucial role in working alongside us to amplify this message, helping to reassure customers through trusted guidance. To support this, we are rolling out our used EV leasing proposition to brokers enabling them to provide a wide array of accessible EV options for their customers. By empowering brokers and consumers with knowledge, Lex Autolease aims to drive the transition to sustainable motoring.”
Lex Autolease currently also provides EV stock to loveelectric,The Electric Car Scheme, DriveElectric, Gridserve and AFL.
Nationwide was the Best Volume Broker at the recent Broker News Awards 2024.
Read more about brokers and the used EV market
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Sarah Tooze has been an automotive journalist for more than 15 years, specialising in the fleet and transport sectors. She has held senior positions at industry-leading B2B titles Fleet News and Smart Transport, and led campaigns championing motorists as consumer editor for online used car marketplace Heycar and motoring advice website HonestJohn.co.uk. In 2017 she won the Newspress Automotive Business Journalist award.
