THE RAC has partnered with broker funder Hitachi Capital Vehicle Solutions to create affordable leasing deals on electric cars, with aims to make access to brand-new EVs easier.
The RAC says its data reveals that 78% of drivers believe the prices of pure-electric cars are too expensive. However, with market-competitive leasing deals, combined with running cost savings, the RAC believes will make a wide range of EVs available to customers at a more affordable cost than ever.
Looking at running costs as well as leasing costs, the new RAC deals show that it can cost considerably less to run a new electric car than a petrol or diesel one.
A new dedicated website has been set up by the RAC and Broker News partner Hitachi Capital Vehicle Solutions, so customers can see potential costs up front. Top deals are available on in-stock vehicles too, meaning drivers can have their new car within just a few weeks.
According to the RAC, savings can be more than £1,000 year for EV drivers compared with petrol or diesel alternatives. For example, driving 10,000 a year will cost around £1,180 for a vehicle capable of 50mpg and fuel at 131p/litre. In contrast, an EV charged off-peak at 7p/kWh, covering the same distance, will cost around £170.
As well as more than £1,000 a year in fuel savings, EVs are tax exempt, saving more than £150 per year, and that’s before factors such as congestion charging or low emission zones are considered.
Every EV leased through the new RAC/Hitachi Capital Vehicle Solutions partnership comes with breakdown cover as standard, and the RAC’s patrols come with both van-fitted EV Boost for an emergency charge when required, and equipment to tow vehicles with all four wheels up, avoiding the need for a tow truck in most cases.
Sarah Winward-Kotecha, RAC Director of EVs, said:
“We know from RAC research there’s a growing desire among drivers to go electric but that the high upfront cost tends to be the biggest barrier to take-up, so we’ve teamed up with Hitachi Capital Vehicle Solutions to help people make the switch more easily and more affordably.
“Using the RAC’s manufacturer relationships, combined with Hitachi Capital Vehicle Solutions’ expertise and buying power, we’re able to offer some of the most competitive leasing deals available. Some of these are extremely compelling, so much so that a customer can lease a brand-new EV from as little as £227.99 a month. All customers need to do is find the best insurance for them.
“We’d urge any driver thinking of changing their vehicle to think about all the costs they’ll pay for the period they have the car, as with an electric model there are substantial savings to be had.”
Typical RAC EV leasing offers
The rentals below are based on a three-year agreement – 10,000 miles per year – on a 6+35 profile.
|Monthly PCH rental cost
|Nissan Leaf 110kw N- Connecta 40kWh 5dr Auto
|Vauxhall Corsa-e 100kW SRi Nav Premium 50kWh 5dr Auto (7.4kw charger)
|Hyundai Kona Electric 100Kw Premium 39kWh 5dr Auto
|Hyundai Kona Electric 150kW Premium 64kWh 5dr Auto
|Peugeot e-2008 100kw GT Premium 50kWh 5dr Auto
|Mercedes EQA AMG Line
|Mercedes-Benz EQC AMG Line
|Mercedes EQC AMG Line Premium
Jon Lawes, managing director at Hitachi Capital Vehicle Solutions, added:
“By partnering with the RAC we are confident that more people than ever will realise that getting into an electric car is far easier and more affordable than they might have thought.
“We’ve worked closely with RAC to create a site that allows drivers to find their perfect car easily by browsing a range of competitive offers with flexible initial rental, term and mileage options. It was clear to us that they were the natural choice to work with to help make the switch to electric a reality for drivers, particularly as they’ve pioneered breakdown solutions which give drivers complete peace of mind when it comes to driving an electric car.”