Costs and savings of electric vehicle ownership | Electric Moments from LeasePlan

Little too much shilling for leasing and zero mention of 2nd hand. Though in most cases, buying new almost never makes sense.

Matt Walters was throwing prices around, such as £450 - but neglected to say over what time-span. Was that weekly, monthly, or (unlikely!) annually? - - - One thing I have noticed, across the various EV channels is that all the drivers that enthuse gushingly are YOUNG, working in moderately good jobs, and have no significant financial worries, ie Bjorn in Norway, Andrew Till in the mid-south (who's company buys his car anyway), Mr EV man in Yorkshire, etc. Nowhere that I've seen is there any footage of the older - retired - driver thinking of getting an EV for the first time - who covers comparatively low mileage per annum - and their opinions and considerations. (Like me!). My biggest concern is - is the initial layout justified, vs my potential remaining life-span, when my only income is my pension, or keep the existing fossil-burner, as it will probably last longer than me anyway!

out here, its the poor that lease. dont be poor.

I'm afraid the biggest saving in running an EV is disappearing fast. Rapidly rising electricity costs in the UK mean that 20p+ per kWh prices are here for quite a while yet. My Tracker price was 25p / kWh last week, 10p up on what it was when I got my ID.4 in March. The government has raised the price cap because wholesale prices are up and have made noises that a further rise is likely in the new year. These price rises are driven by the rise in gas prices, a fossil fuel making EV ownership more expensive - ironic, no?

When my ID.4 arrived, the TCO calcs showed it was about the same as my previous diesel Karoq. Now its costing about £40 a month more.

I spend almost £3000 a year putting fuel in my ICE car atm, over 4 years that's £12,000.
Yes, TWLEVE THOUSAND POUNDS.
An EV over 4 years would cost me roughly £1500 to run.
That £10,500 saving over 4 years. To me that's a complete no brainer.

"why would you buy a car" says the man from a lease company.😲

So far there aren't the "Like for like" products being produced. We bought a 69 brand new but pre-registered Citroen Berlingo top spec for £16500? What is the matching electric car? (Recently changed our second vehicle for a 68 Zoe charging via Zappi and PVs).

I would like a Kia Soul EV but I need it to do 170 miles each way with an overnight stay once a month. I think the 2020 generation Soul will be able to do this but it is way way way out of my league price wise! The most I've ever spent on a car is £3300 and I still have it 8 years later! Think I'm going to be waiting a long time! 🙄

Still just too expensive compared to the running costs of my second hand small engines petrol car, especially as I haven't got a drive. Gonna have to sweat my small engine petrol for another few years I think.

But leasing is the only way I see myself affording one anytime in the next ten years the way they don't depreciate.

We had a close look at the little Fiat 500e and it is proper spank botty GORGEOUS. We were smitten but it was just a little bit too small in the boot for our needs.

I would like an EV with 4 wheel drive ( dual motor ) It needs to be smallish, Q2 size maybe. id2 maybe or Ioniq 3. I do 4000 miles a year in a diesel Qashqai costing £400 pa with zero tax. My Qashqai is 7 years old + and 31,000 miles, totally flawless so far. Waiting for the right EV.

'EV's are more enjoyable to drive' - somebody who was never interested in cars before EVs were a thing.

Lots of these people are nissan leaf owners who go on about Tesla being quicker than a Giulia QV/M3 etc... To be honest its irelevant. The Nissan GTR is a great car on a track, but most people wouldn't have it over a mid engined supercar or Porsche 911. Theres a difference between functionally fast and 'fun fast'. I'd rather have fun and be a bit slower than go fast in something that feels so clinical like a Tesla. So yes, EVs are cheaper in the long run and better for the environment, but why would I invest so much money into an asset I find boring?

I'm all for the switch.. I just want an manufacturer to make a decent hot hatch! Only EV that looks like any fun to drive is the Taycan or the I4 and they are too big and expensive. :(

Tried Lease Plan for car lease, rejected by them. Same vehicle Lease arranged by Deelar, no problem and cheaper. Wondering what system they using.

Hi,we had a ev on 24hr test and the dealer refused to give us the charge cable so we went drove home and back total 55ml because we couldn't charge,the missus doesn't want one now. Dealers fault.

So, buy a 2nd hand car, save a load of money up front and per month.

Also, you have to include the total amount spent when charging the car. If you buy anything while waiting for it to charge, that has to be added to the cost of charging.

Love electric cars, drive them everyday at work, but we can sugarcoat this as much as we want but the fact remains....electric cars are expensive and out of reach for MOST motorists. Like for like example - Fiat 500 petrol base model £13,425, electric equivalent £20,995. Most Fiat 500 owners are female 17-60 yrs of age. They’re not buying the electric version, in fact nobody’s buying it. Petrol still flying out the door. So an electric car is a luxury item at the moment. Probably just as well given the infrastructure is no way near to supporting mass population of electric car owners. 5 years we may be getting somewhere, but I think most people are waiting for hydrogen.

Most people think.... Investing in crypto is all about buying coins and holding, till it rises, 🙅 come on it takes much analysis to be a successful crypto trader.
I've made $16,000 in two weeks of trade.

"u should compare a x car with the car of the same class." no. i will compare the cheapest new electric car that suits my needs with the cheapest new gas car that suits my needs. ive decided that the Spring and Twingo don't suit my needs since 20kW fast charging and probably less than 100 miles of highway range simply isn't acceptable. the VW eUp might but its not avalible. therefore, the next cars i can look at are the Corsa E and the Zoe which has a starting price i can't afford while the cheapest gas car that suits my needs(lets say Kia Stonic) is something i can afford. therefore, getting a new electric car = failed. i did buy a used one tho.

I don’t understand people considering a Polestar 2 as an SUV or even crossover. I think it’s much more comparable to a saloon/hatchback. It only rides a couple of inches higher.
A bit of marketing spin from LeasePlan?

Tank you for doing this series on the benefits of EV leasing and or ownership. Please consider having your correspondents in the USA and China do similar video's. Lease Plan does have operations in the USA.

Typically if you lease a car you are paying the lions share of the depreciation on that car. In other words it's significantly more expensive than buying a 3 year old car which will be perfectly fine for many years. My mobile phone is 6 or 7 years old and it's still fine, so I've got cheap phone contract that doesn't include the phone. Make sure you do the maths for yourself.

Another excellent and informative video. I joined the EV driving fraternity just over 3 months ago with a Hyundai Kona and the experience to date has exceeded my expectations. I have solar panels and a home charger so, as Andrew Till said, "I'm living the dream"! 👍😁

I got the Kona on a 2-year lease and will be leasing my next EV, with the Polestar 2, Tesla Model 3, Hyundai Ioniq 5 and Kia EV6 all on the shortlist. That said, there is going to be a much greater choice of EV's by the time I'm in the market - so who knows what's going to come along and take my fancy!

The dealers average service was about $600-$800 for my diesel but only $136 for my BEV and the interval is now 20K miles. And there is no maintenance of glow/spark plugs, injectors, motor & transmission mounts, etc. Electricity is 1/4th the cost of diesel, brakes last far longer.

I am coming up to 65 years, no way am I going to spend my life savings on an EV be it lease or buy outright, my dev car has another 70000 mikes to go and I can afford to run it I can have a range of 550 miles and tow my caravan . I get it if you're just starting out driving that's the way it's going to be, but for me, I will stick with my dev car it's cheaper for me.

Nice to see Mr. EV on the show who now has an Ioniq 5.

Please please just forget the rest, buy a Tesla.

If you're REALLY comparing a Fiesta to a Polestar 2 then you're such a dummy that you're probably not safe behind the wheel of ANY car..........!!!

I still don't understand leasing. The interest rate is higher than a personal loan, there's restrictions on mileage and the slightest damage you get pounced on by the lease company for repair prices. Of course, this guy would be pro-leasing.

Would love to have an EV but overall much more than an ICE car. Even with the gov abusing the tax/benefit system.

For those that qualify for the UK Motability scheme, an electric vehicle makes even more sense. Everything is paid for except the fuel and if the fuel is electricity then it is a bargain. Hyundai, Kia and MG are the stand outs on that scheme.

Bottom line, the general £10k purchase price difference between electric and ice cars can fuel an internal combustion engined car at 50 mpg for 82,000 miles and that difference is not including electricity costs. The car would have generally been sold long before 82,000 miles is achieved and thus there are no savings whatsoever with current electric car purchase prices.

The issue is not an EV being more expensive than a petrol car of the same caliber, it's the fact that there are almost no EVs in the cheap car cathegory.

I’ve had my Model S nearly six years now and think it had depreciated less than my previous Merc E class did in five years (both bought new). My wife also now has an EV and our full rate household electricity bill, excluding heating which I’m afraid is still oil, is less than our monthly petrol bill alone used to be. OK I still get free trip charging on the Model S, but most of our charging is at home. Maintenance is almost trivial. But the arithmetic does mostly depend on the taxation of fuel.
I always say I won’t go back, but we miss our comfortable covertible and there’s no suitable long-distance fast-charging convertible EV that I know of so I may be forced back!
Posted on my wife’s account.

Why buy a car? Maybe to save getting stuffed for a couple of grand if I hand the car back with a scratch on it!?

We replaced my wife’s petrol i30 (on PCP) with an electric Ioniq (on PCP). The monthly PCP cost for the Ioniq is almost double that of the petrol car but it still works out cheaper for us per month, just because we’re not shelling out so much for petrol and servicing. It’s such a good EV I got one too! The overall cost is much cheaper with an EV.

What’s with this annoyingly stupid trend of missing the “the” before the car name?! It’s the Leaf, the ID.3, the polestar not Leaf, ID.3 and Polestar!!!

Thick and of a Grand a month!! The new Working From Home tribe are the kind of people who MIGHT have got an EV, but now, with them hardly driving anywhere....
It's amazing how blazé they were about the monthly costs. Obviously aimed at mid-level Execs with company car allowances.

the price of energy is riseing. In few years it will be more expensive to drive electric car. too bad

One friend of mine had technical problem in his electric car. Not sure which company it was but rather not Tesla. He went to the local repair shop and they told him they need to pay money to connect to the producer's system to check the computer/car. Imagine. The producer of car invented a way to earn money from external companies which repair the faulty car of the producer. The cost was 180 EUR to 1 connection to the system of the car's producer. This is how they earn now. Not via oil and maintenance, but by charging for internet connections :)

“Why buy a car?” Equity!! I’d rather spend the £450 a month on the understanding that come the time, I will get a return. That is how (this) economy works.

Practicality like he says , what about those in the camping and caravan community PHEV at the moment not full EV

Sir, could you approach the subject of drivers who make 30k or more yearly. For me it seems like going electric in such cases is just too expensive. Thank you.

Guys, is it me or electric cars are just maintaining the price as they are used?
The skoda city go i can find used for 13-16.000 euros in my country. The "cheap" EVs are the ones are the ones that have ~16kwh batteries (doing ~100km) and they are in the 7-10.000 euros range.
The used e-golf is 18-20.000+ euros. To me it seems crazy how these cars are keeping their prices so high.

Here's the 'problem' for me, I'm a low mileage user, so fuel savings don't add up to an awful lot, looking at a direct comparison of Renault Kangoo ice vs ev and the ev works out at nearly 20% extra per month for total costs of leasing type arrangement and running costs. If I where to buy then after approx 10 years I might break even, as I tend to keep vehicles for this long that makes more sense even if I was to write off the value.
Which begs the question, "why wouldn't I buy a ev?"

lease's are the biggest scam on the public since PCP with the vast majority of cars it's just cheaper to buy them with a loan and sell the car when you want.

Why buy a car? Because I don't want to join the tribe of city-boys and girls who dawdle round my local Devon lanes in their 'All Terrain' supercharged SUV's keeping 3ft from the banks because they're afraid of acquiring a microscopic scratch in the paintwork, lest the likes of Matt claim that's 4K worth of damage.

'A car is like a mobile phone'... I buy my handsets outright, a year or two 'out of date', sim-only, because I am not so much of a fashion-victim that I feel inferior if I don't have a phone which has a million bells-and-whistles that I never use. If I did want to use one of its half-cocked features for something, I'd buy a proper tool to do it instead.

With the invention of the assembly-line, Henry Ford brought the price of the Model T down to 4 months of the average US wage. It seems Western manufacturers don't want to make that 'mistake' again. They, the dealers, the finance companies, the insurers, the marque repair shops, all want us on the hook, for cash flow. It's in none of their interests to produce , sell, or allow the open maintenance of a 'people's car'. We're going to have to wait for the Chinese to do it, and hope to God that they don't get clobbered by tariffs.

Oh, by the way. If I buy a car from you, I am not a 'consumer'. I become an owner. If you're good enough, I may become a customer, too. Thank you.

Just watching the top gear episode from last year about the Honda e and Chris Harris just ignores the running costs when saying about the cost of the car.

So let get this right If I buy a new car £30*000 in 4yrs time the price go's down to £23*000 what chances have I got to sell my car I will loos so much money wtf

I have been enjoyed, so thank you for delivering.