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Discussion Starter · #1 ·
I'm thinking about replacing our 30kwh Leaf with a new Kia E-niro.

I would plan to keep the car for three years, and I'm not sure whether to lease the car or buy the car.

The model I am looking at is the 4+ in yacht blue. With the extra cost of the paint, the RRP is £39,990. Deducting the £3,000 grant gives a total cost of £36,990.

I did speak to a dealer to check what deal might be available, and I got the impression I might be able to get the metallic paint included. I was also going to ask for the 3 year service plan (which normally costs £479). But assuming I only got the metallic paint, the cost would be around £39,395

Does anyone know if any other dealer is offering a better deal for this model of car? I'm also not sure how much flexibility (or willingness) there is to do any better deal on the car? I assumed there wouldn't be much as I know there used to be a very long lead times on the e-niro. but as an aside, the dealer told me there was 34 cars due to arrive into the UK next month which are currently available in this colour.

The alternative option is to lease the car. This would cost around £400 inc VAT on a 36 month lease (no deposit). Which makes the total cost over three years to be £14,400. I don't think that lease price is amazing but it seems to be about the market rate.

If I go with buying the car outright rather than leasing, then the residual value of the car would need to be more than £22,000 after three years, else it would be better to lease. Plus of course I don't have to outlay nearly £40k on the car upfront.

Does anyone have any view on what the best option would be? Interested to hear your view.

 

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I am in a sort of similar quandary but I have decided that the lease is preferable for me. Chiefly because I think that:
  1. General EV range and tech will improve over the course of 3 years
  2. The price of EVs will come down considerably, owing to greater production and adoption, potentially making a new 4+ equivalent much cheaper to buy in 3 years
  3. The lease deals I'm interested in include maintenance and servicing which I wouldn't get from owning
I feel that the first 2 points would reduce second hand value disproportionately (compared with ICE for instance) leading to huge devaluation. More than normal devaluation.

I recognise the benefits of owning (clawing some money back), but I just can't justify the monthly cost of it.

Anyway, just my opinion. What the hell do I know?! :p
 

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I'm thinking about replacing our 30kwh Leaf with a new Kia E-niro.

I would plan to keep the car for three years, and I'm not sure whether to lease the car or buy the car.

The model I am looking at is the 4+ in yacht blue. With the extra cost of the paint, the RRP is £39,990. Deducting the £3,000 grant gives a total cost of £36,990.

I did speak to a dealer to check what deal might be available, and I got the impression I might be able to get the metallic paint included. I was also going to ask for the 3 year service plan (which normally costs £479). But assuming I only got the metallic paint, the cost would be around £39,395

Does anyone know if any other dealer is offering a better deal for this model of car? I'm also not sure how much flexibility (or willingness) there is to do any better deal on the car? I assumed there wouldn't be much as I know there used to be a very long lead times on the e-niro. but as an aside, the dealer told me there was 34 cars due to arrive into the UK next month which are currently available in this colour.

The alternative option is to lease the car. This would cost around £400 inc VAT on a 36 month lease (no deposit). Which makes the total cost over three years to be £14,400. I don't think that lease price is amazing but it seems to be about the market rate.

If I go with buying the car outright rather than leasing, then the residual value of the car would need to be more than £22,000 after three years, else it would be better to lease. Plus of course I don't have to outlay nearly £40k on the car upfront.

Does anyone have any view on what the best option would be? Interested to hear your view.

I decided to buy outright, since I intend to keep the car for 10 years or so. There are some good deals around on brand new cars of the original 4 series, but like you, I couldn't find much on offer for a new 4+. My dealer claims that dispite lockdown, they are simply flying our of the showroom as fast as they can get deliveries. As long as demand iremains this bouyant (for many years to come?) then I would not expect to see much discounting on this particular model.
 

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I decided to buy outright, since I intend to keep the car for 10 years or so. There are some good deals around on brand new cars of the original 4 series, but like you, I couldn't find much on offer for a new 4+. My dealer claims that dispite lockdown, they are simply flying our of the showroom as fast as they can get deliveries. As long as demand iremains this bouyant (for many years to come?) then I would not expect to see much discounting on this particular model.
They're definitely still flying out despite lockdown, as you say. The demand is huge at the moment leading to long waiting lists, but that's only a result of extremely limited supply. I think the demand will only increase but I think that the supply will overtake it massively now that other manufacturers are making affordable 250 mile+ EVs. That's when we'll see discounts on the likes of the E-niro and Kona. At the moment, there's simply no need for them to discount.

If keeping your car for 10 years, I think buying is definitely the right thing to do, as you have done. You'll presumably pay it off in 4 or 5 years and have 5 further years without capital costs.
 

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Discussion Starter · #5 ·
They're definitely still flying out despite lockdown, as you say. The demand is huge at the moment leading to long waiting lists...
Just to be pedantic, the Kia dealer I spoke to yesterday said there isn't a waiting list. For example, there are 34 cars which are the 4+ version in yacht blue arriving in March, all of which don't yet have customers.
 

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affordable 250 mile+ EVs.
Well everything is relative. I need an estate or SuV for transporting my labarador, and a new Niro or Hyundai is half the price of a Telsa Model X or Audi eTron.
I'm hoping its the shorter range EV's and PHEVs that will depreciate much faster as technology advances...
 

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I went for a lease for 3 main reasons:
  • This was my first EV and I treated it like a trial. Before COVID we'd have been driving a lot more trips, long trips especially. Now it seems silly to think an EV wouldn't have been fine for us but it does feel like a big plunge beforehand.
  • EV technology will explode over the next 3 years so who knows how competitive or valuable 2020 models will be by that point. Prices will drop, range and choice will go up.
  • I got a great deal via salary sacrifice due to the tax changes (£360/mo including servicing, insurance, tyres, breakdown cover).
 

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Just to be pedantic, the Kia dealer I spoke to yesterday said there isn't a waiting list. For example, there are 34 cars which are the 4+ version in yacht blue arriving in March, all of which don't yet have customers.
I think this probably proves my point more than anything. People (like me) who found last year that the E-niro was the only car that seemed to tick most boxes, waited rather than bought in 2020 and will now be able to choose from the Ariya, Enyaq, ID4, face-lift MG ZS EV, and probably others in 2021. Kia and Hyundai will find their market share significantly diluted and will perhaps have to discount their cars.
 

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We went through all the pros and cons mentioned above, and the final deciding factor was uncertainty on the residual value and ease of sale if we bought outright. We decided to lease a 4+ metallic which was £310/month on 9+23 @ 8000miles p.a.
So, £10k in rough terms. Would it be worth just under £27k in 2 years? Time will tell.
 

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I've just gone for a 3 year lease on an E-Niro 3.
I couldn't afford to spend 30 odd K on an outright buy and leasing was the best available deal.
I think were at the very early stages of a rapidly changing market. In 3 years time I wont worry about having to sell or hang on to outdated technology. (Or MOT & repairs)
I'm retired so I'd rather put aside a sum from monthly income rather than rely on large sums and interest rates.
Its not neccessarily the cheapest option but it suits us.
 

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At that price I would lease. It’s likely depreciation will exceed the lease cost, so leasing will work out cheaper. No guarantees of course, but you are effectively derisking your purchase.
 
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