Best EV deals for August 2024

The UK’s electric vehicle market continues to grow at a rapid pace with new models, brands and offers available to cater for a range of budgets.

Car manufacturers are continuing to incentivise and push heavily to meet Zero Emission Vehicle mandate (ZEV) targets, which means they’re supporting dealerships and leasing companies to increase EV sales across the UK.

The work being done to highlight EV affordability is most apparent with a model like the Honda e:Ny1.

According to the latest data from Auto Trader, the e:Ny1 has gone from the 254th most sought after new car in the UK in June, to seventh place just a month later.

The Japanese brand is strongly supporting its new electric SUV with a discount of £3,500 when financed at 0% APR through a personal contract purchase (PCP) at a Honda dealership. It puts the monthly payment down to £359 for a brand new electric SUV.

The e:Ny1 is becoming so popular that we’ve highlighted it twice, also within the salary sacrifice offer table, where it’s available from as low as £329 a month.

The below offers highlight some of the stand out models available right now.

Each of these offers can be found either through Drive Electric, the Electric Car Scheme or by going directly to car manufacturers and their dealer networks.

Top 3 personal contract hire lease deals

Pictured left to right: BYD Dolphin, MG ZS EV, Hyundai Kona Electric

Drive Electric has some special offers running that put these EVs in reach for under £355 a month.

The BYD Dolphin is a particular stand out at around £300 a month and a 265 mile WLTP range. These vehicles are in stock now, so there’s going to be very little wait, compared to some other new EVs.

The MG ZS is another practical option that is absolutely packed with modern standard equipment, like adaptive cruise control, satellite navigation, a 360-degree parking camera and more.

Drive Electric has also got its hands on some pre-registered Hyundai Konas. It essentially means that the dealership is the first registered owner, so it's technically a used car, but they will generally only have delivery mileage on them still.

Pre-registrations will happen when a car manufacturer is looking to move a certain number of models in a given quarter. It can mean dealerships will take a larger amount of stock at a discount and this can then be passed on to customers or leasing companies.

As a result, the Kona is another smart choice at £353 a month, with deliveries in August this year.

All examples are from Drive Electric

Top 3 salary sacrifice deals

Salary sacrifice schemes can be run through your employer to create a tax-efficient way to access the latest EVs.

Funding an EV in this way lowers an employee's monthly take-home pay, meaning they also pay less in income tax and National Insurance each month.

We’ve already mentioned the Honda e:Ny1 at just £329, which means employees can secure this new EV through salary sacrifice for even lower than new retail customers at the dealership.

It’s another signal to explore the different funding options available beyond what you might necessarily consider.

The Tesla Model 3 and Mercedes-Benz EQA are examples of how salary sacrifice can also open up choice to more expensive or luxury EVs.

There’s no doubt that Tesla and Mercedes are heavily supporting new EV sales with incentives and low APR finance, but salary sacrifice does not require a deposit.

So while there are also some great retail offers out there for Tesla and Mercedes, it still requires thousands of pounds to access. That’s fine if you already have a vehicle to part-exchange (or some savings), but it’s something to think about when weighing up your options.

All examples from The Electric Car Scheme and based on a 40% taxpayer

Top 3 car manufacturer retail offers

It’s always worth checking what the latest offers are because Honda has actually increased it’s discount on the e:Ny1 from £3,000 off last month, to £3,500 off now.

The Ford Capri is also back, now in the form of an all-electric coupe SUV. It’s actually got the greatest WLTP range out of any of these models highlighted here, at 389 miles and it’s available at £425 a month on just under 1% APR finance.

New Chinese brand Omoda is now out of the gates in the UK with its 5-family SUV. New customers have to put down a £500 deposit and they can access 0% finance to bring monthly payments down to £424 a month.

Once you’ve chosen your next electric vehicle, please have a look through your options to charge at home (if you can) and we can help you buy an EV charger, new or pre-loved and a hassle-free installation.

All examples from car manufacturer retail offer websites