6.7.2021RAC leasing service makes EV driving more affordable
British automotive services company the RAC has launched an electric vehicle (EV) leasing service to make switching to a brand-new EV easier and more affordable.
Having joined forces with Hitachi Capital Vehicle Solutions, the RAC now offers a range of popular EV models currently available in the market, at prices starting from just £227.99 a month. The new service was inspired, in part, by an RAC Report, which found that more than three-quarters (78%) of drivers believed the prices of pure electric cars are still too expensive.
“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,” said RAC director of EVs Sarah Winward-Kotecha.
“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,” Winward-Kotecha continued.
Drivers using the new RAC leasing site can also select a service and maintenance plan to be even more certain of their costs. In addition, the top deals featured are based on in-stock vehicles, enabling customers to have their new car delivered in just a few weeks.
While the deals offered by the RAC are competitive compared to other forms of finance on EVs, they can also work out cheaper than popular petrol models, particularly when factoring in savings on fuel. EVs are also exempt from car tax, meaning there’s a further saving of nearly £500 over three years, which equates to £163 a year. This means that between fuel and car tax, EV drivers can be over £1,300 a year better off than those in petrol or diesel cars.
As a result, when taking all running costs into account over the most common lease period of three years, the RAC believes it can work out considerably cheaper to run an electric car than a similar sized petrol one.
“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,” said Winward-Kotecha.
Moreover, RAC leasing deals come with breakdown cover as standard, giving drivers the opportunity to benefit from the RAC’s van-fitted EV Boost emergency charging system, should they run out of charge on a journey or encounter an out-of-order charge point. And, if something more serious goes wrong, RAC patrols have the equipment in their vans to be able to tow stricken EVs with all four wheels off the ground, meaning customers wouldn’t have to wait for a separate tow truck. The RAC All Wheels Up recovery system is unique and is technology that is not offered by any other UK breakdown provider.