Buyers 'overcharged' when taking out lease plans on EVS

LEASING companies have been accused of overcharging for deals on electric vehicles.

- Tristan Shale-Hester

According to green transport organisation Transport & Environment (T&E), leasing offers for EVs are 57 percent more expensive on average than for their equivalent petrol models. For example, leasing an electric Peugeot e-208 costs approximately £509 a month, but the petrol model is offered at £329.

The group says that leasing companies typically charge customers for the expected loss in value of a vehicle over a three or four-year lease, with higher prices meaning they expect EVs to lose more of their value. However, T&E says its analysis shows that EVs have similar resale values to diesel and petrol vehicles, so more expensive EV lease deals are "unjustified". The group analysed 2.7 million used car prices and found EVS do not depreciate any faster than petrol or diesel cars.