Last Updated on: 22nd November 2023, 05:27 pm
Electric cars are where the future of motoring is heading, but if you live in an emissions-controlled area it makes sense to adopt one now. To help you along the way, we’ve rounded up the best electric cars you can secure now on a finance deal from just £300 per month.
Alternatively, if you don’t like the idea of buying on finance, you can always shop on the used market for a low-milage EV. There are thousands of affordable zero-emission cars for sale in UK bound – we found a reasonably low mileage Mk1 Nissan Leaf for just £9,000 and a SEAT Mii Electric for a shade under £14,000. That’s the same money as a deposit for some finance deals.
However, many buyers find it a less daunting to buy an electric car on a finance deal than to pay cash for one. EVs are much more expensive than their petrol-powered counterparts because the materials that make up their electric motors and battery packs are still very pricey.
That extra cost at the point of production is passed onto the consumer, driving up the price – and spreading that cost over the term of a finance agreement doesn’t feel like such a heavy financial blow. The Peugeot 208 is a prime example. It’s available with both a traditional petrol engine and an electric motor, but the petrol model is around £10,000 less than the EV to buy with cash.
Scroll down for our round-up of the best EVs for around £300 per month. We’ve included a mix of Personal Contract Hire (PCH) and Personal Contract Purchase (PCP) deals. The former system works like renting – you put down a deposit and pay monthly instalments. Then, at the end of your term, you hand the car back to the dealer.
PCP agreements are more complicated. Again, you pay a deposit and monthly instalments but, once you reach the end of your term, you can pay an optional final payment (called a balloon payment) to transfer the ownership of the car to you.
MG 4: PCP deal from £306/month
Over the past few years, MG has progressed in leaps and bounds. The MG 4 is the company’s most recent offering – and it’s an absolute corker. It’s designed to take on the Volkswagen ID.3, but it massively undercuts it on price. It also has a maximum range of 281 miles, a thoroughly modern interior and surprisingly good handling.
MG ZS EV: PCP deal from £333/month
The MG ZS EV was the brand’s first electric car after its rebirth – and it’s a very practical vehicle. It has a decent range of 273 miles, a spacious cabin, plenty of standard equipment and a five-star Euro NCAP safety rating, making it an ideal eco-friendly family runabout. It isn’t as exciting as the MG 4, but the sacrifices you make in road manners are compensated by the added usability.
Renault Zoe: PCH deal from £296/month
The Zoe has come under lots of fire for its recent zero-star Euro NCAP safety rating, which is a real shame because it’s a great electric car that’s available on a zero percent finance deal. It also has a maximum range of 238 miles and a good level of standard equipment, including support for 50kW DC rapid charging that can charge the battery to 80 percent capacity in just over an hour.
Vauxhall Mokka Electric: PCH deal from £330/month
The Vauxhall Mokka trades on its good looks. It’s angular on the outside, funky on the inside and, as an added benefit, it’s available on a zero percent finance deal. It’s also very comfortable and rather fun to drive, although it will struggle to meet its claimed 209-mile maximum range, especially in the winter months. Still, if all you need is a car to get you around town, it could be perfect.
