Top 10 cheapest electric cars on PCP finance
Last updated: Nov 8th 2024
While there might be a lingering perception that electric vehicles (EVs) are more expensive than their petrol and diesel counterparts, you might be surprised at what you can get for under £300 a month.
Smart Home Charge has compiled a list of the top 10 lowest priced EVs with personal contract purchase (PCP) new car finance. PCP finance leaves the door open for customers to buy the vehicle at the end of the contract with a “balloon payment”, or trade it in against another EV if they wish. All these offers factor in the current plug-in-vehicle grant where applicable, which was recently reduced from £2,500 down to £1,500. It’s actually a move Smart Home Charge agrees with and as can be seen in the offers below, it hasn’t negatively impacted the affordability of some of the latest models available.
There is the caveat here too that each of these offers requires a deposit (just like most new car finance offers), but hopefully if you’re ready to make the switch to EV, you’ll have a petrol or diesel model that can be part-exchanged.
Model | Monthly Payment | Deposit | Final Payment | Term | APR | Offer ends | Mileage | Deposit Contribution |
£199.00 | £6,763.00 | £13,668.00 | 36 | 0.00% | 31/03/2022 | 6,000 | £- | |
£219.00 | £6,427.01 | £14,183.29 | 36 | 4.90% | 31/03/2022 | 10,000 | £1,000.00 | |
£249.00 | £4,495.00 | £13,224.00 | 36 | 4.90% | 31/03/2022 | 6,000 | £250.00 | |
£253.84 | £8,700.00 | £12,780.95 | 42 | 5.50% | 31/03/2022 | 8,000 | £- | |
£259.00 | £7,481.48 | £11,950.00 | 48 | 5.90% | 31/12/2022 | 6,000 | £400.00 | |
Vauxhall Corsa-e SRi Premium 11kW Electric 100kW/136PS Auto2 | £269.00 | £4,398.20 | £12,089.00 | 48 | 5.90% | 04/05/2022 | 8,000 | £1,750.00 |
£279.00 | £4,331.74 | £11,579.70 | 48 | 1.90% | 31/03/2022 | 8,000 | £- | |
£299.00 | £7,986.86 | £14,095.80 | 48 | 5.20% | 31/03/2021 | 10,000 | £- | |
£299.00 | £4,319.20 | £14,044.50 | 36 | 4.90% | 31/03/2022 | 9,000 | £750.00 |
Renault Zoe takes the top spot
The top spot for the most affordable EV in the UK right now goes to Renault Zoe supermini at just £199 a month. Not only do you get a potential zero emission driving range of 239 miles, but it’s also 0% APR, so you’re paying no interest over three years to fund it. The Nissan Leaf hatchback isn’t far behind in second place priced at £219 a month with a 4.9% APR. The Japanese car manufacturer is also offering an additional incentive of £1,000 towards your deposit for any orders placed before the end of March.
The Fiat rounds out the top three with its now fully electric 500. The more affordable 24kWh version highlighted here has a range of 112 miles which is still plenty for city driving and there’s an additional bonus from Fiat in Q1 of £250 towards your deposit contribution.
It’s not just smaller models that are becoming more affordable, with larger EV crossovers like the Hyundai Kona, MG5 and Mazda MX-30 all making an appearance for under £300 too.
The only thing left to sort now is how you’re going to charge it and luckily you’re in the right place to compare EV chargers and charging costs, as well as arrange an installation.
Last updated: Nov 8, 2024
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