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Outright purchase/Lease/PCH/PCP Which one did you use for you EV purchase ?

  • Outright purchase

    Votes: 7 28.0%
  • Business Lease/companie car

    Votes: 6 24.0%
  • Personal Contract Hire

    Votes: 1 4.0%
  • Personal Contract Purchase

    Votes: 9 36.0%
  • Personal Hire purchase

    Votes: 2 8.0%

  • Total voters
    25
1 - 16 of 16 Posts

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SU-EV convert
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Discussion Starter #1
In a context of residuals on EV being anyone's guess, battery technology expected to progress at least to some extent in the next 3/4 years and sub 20k EV being the exception rather than the norm, I am wondering what finance approach people on this forum have taken and why ?
 

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I purchased my Tesla but would recommend anyone buying a new EV today does so through a lease/PCH/PCP of some kind. The technology is changing so fast that these cars will date quickly and IMO it's better to let a commercial company take that risk :)
 

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  1. Nissan LEAF on MyElectric Avenue social trial. 18 months PCP. Around £500 down, £200-ish a month. Almost a zero-cash no brainer (vs. ICE savings) to dip a toe in the EV owning waters. Very happy with 18 month term as for same reason above I think 18 months may have far superior technology at similar value proposition that I'd rather be driving.
  2. Outlander PHEV on company car scheme. This is the one that bothers me, my company has a 4 year term. I think I may struggle to live with this car for 4 years unless it becomes a very short range run-around BEV and occasional petrol towing car, whilst the LEAF is replaced with something meatier in the 2 year timeframe. Or, I leave the company within 4 years and hand it back! I forget the complexities of cost, tax and trade-down payments I receive but its effectively costing me around £300 per month for zero downpayment vs. taking the cash allowance but that includes all servicing, tyres, insurance, maintenance. Cost goes up a bit in years 2-4 if the government stick with their planned BIK tax increases for ULEV vehicles.
 

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Business lease for us. Could have brought it or ballon payment but I just wondered what it would be worth in 3 years?
We would normally shop around but there have been no good deals on outlanders. More than I wanted to spend but isn't that always the way
 

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Good old HP for us, only trouble is after 1 years payments you can now buy a new Ampera for less than I still owe on my second hand Volt:(
 

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  1. Nissan LEAF on MyElectric Avenue social trial. 18 months PCP. Around £500 down, £200-ish a month. Almost a zero-cash no brainer (vs. ICE savings) to dip a toe in the EV owning waters. Very happy with 18 month term as for same reason above I think 18 months may have far superior technology at similar value proposition that I'd rather be driving.
  2. Outlander PHEV on company car scheme. This is the one that bothers me, my company has a 4 year term. I think I may struggle to live with this car for 4 years unless it becomes a very short range run-around BEV and occasional petrol towing car, whilst the LEAF is replaced with something meatier in the 2 year timeframe. Or, I leave the company within 4 years and hand it back! I forget the complexities of cost, tax and trade-down payments I receive but its effectively costing me around £300 per month for zero downpayment vs. taking the cash allowance but that includes all servicing, tyres, insurance, maintenance. Cost goes up a bit in years 2-4 if the government stick with their planned BIK tax increases for ULEV vehicles.
Me too!
 

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3 year PCP for me. I feel a large spreadsheet coming on nearer the time as there's big decisions to make... hand it back, pay the 9k balloon payment for a 3 year old car, or use the money I'm saving each month towards a new PCP or even something completely different. It's all options which I guess it is what it's all about.

My PCP ends in October 2016, so interesting times with new cars & tech coming. I'm watching for news on the expected increased capacity Leaf (that'll sway me towards a new lease), the new Tesla or even an i3 Rex if the sums add up.
 

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You answer your question yourself in the post. For all those reasons the Renault "4" all inclusive 3 year lease made sense to me $2500 down and 190 pcm with battery. I have to assume it will be worth diddly sqat in 3 years and I'll hand it back.
 

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Outright purchase of a 7 month 2,000 mile Leaf Acenta. £14000

In an ideal situation I will keep it for 3 years add 45000 miles on the clock. Best case scenario I get £9500 for the car. Worse case I get £8000.

Best case depreciation £125 a month.
Worse case depreciation £166 a month.

I am saving £150ish a month on diesel anyway so what ever happens with my future valuation of my LEAF I have effectively been driving a free car.
 

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SU-EV convert
Jaguar iPace 2020
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Discussion Starter #12
Looks like I am going for a PCH over 4years for an outlander. By then there might be second hand Teslas model S or maybe even model X to consider
 

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My new employer are looking into the options for me to have an Ampera as a Co car, I shall revert back if I manage to find out the deal/details..
FYI we've seen some deals for the Outlander that make it much cheaper than the Ampera if leasing through a company.

Your employer might want to try Fleetdrive Electric http://www.fleetdrive-electric.com
 

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FYI we've seen some deals for the Outlander that make it much cheaper than the Ampera if leasing through a company.

Your employer might want to try Fleetdrive Electric http://www.fleetdrive-electric.com
Yep, I'm not sure what MMUK are offering but it must be good. Just before ordering my quote via our big corporate portal thingy powered by Arval went from a £60-something per month trade up payment when I originally enquired, to a £44 per month trade down payment at point of order.

They're giving me money back on my monthly car allowance! The lifetime lease cost of the GX4h must be MUCH lower than the comparable Diesel auto which is a £40-60 trade-up depending on manual/auto. That's £100 per month in my pocket. It's actually not as there are some confusing tax scenarios where trade up payments come off BIK, but trade down don't and are taxable & NI-able. Hey-ho, good news for drivers. :cool:

To temper the excitement, I am worried about a 4 year company lease on the Outlander though (which I'm tied to). 4 years is a long time, and I think range and Marque envy might start to niggle around the 2 year plus mark. :(

Answer: A little extreme, but change jobs & hand the car back! :p
 
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