Top 10 cheapest electric cars on PCP finance until the end of March
Last updated: Mar 1, 2023
MG is leading the way in the UK for electric vehicle affordability with each of its MG4, MG5 and ZS models available for under £300 a month until the end of March.
The average monthly PCP price across the top 10 deals is under £400 at £371 a month.
The plate change month of March is usually one of the busiest times of the year for dealerships in the UK and Smart Home Charge has compiled some of the most compelling retail offers available on the latest EVs.
These PCP offers are only available to customers that buy on finance directly from the car manufacturer at a franchised dealer.
The APR rates are admittedly a bit high on all these highlighted models in the top 10 at the moment due to the overall increase in the cost to borrow money right now.
Even High Street banks are struggling to offer personal loans at a lower APR rate as a result of the Bank of England setting higher interest rates as a way to tackle inflation in the economy.
As always, there is the caveat that each of these vehicle offers requires a deposit, 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 to make things slightly more affordable.
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Model | Monthly Payment | Deposit | Final Payment | Term | APR | Offer ends | Mileage | Deposit Contribution |
£ 299.00 | £ 8,512.89 | £ 13,972.50 | 48 | 8.90% | 31/03/2023 | 8,000 | £ - | |
£ 299.00 | £ 8,997.00 | £ 13,995.00 | 48 | 8.90% | 31/03/2023 | 8,000 | £ - | |
Nissan Leaf 39kWh 150PS N-Connecta with EVSE Cable | £ 358.00 | £ 5,000.00 | £ 16,141.00 | 36 | 5.99% | 03/04/2023 | 10,000 | £ 500.00 |
Vauxhall Corsa-e Anniversary Edition 11kW Electric 50kW/136PS Auto | £ 374.60 | £ 4,900.00 | £ 13,695.00 | 48 | 8.90% | 05/04/2023 | 6,000 | £ 1,500.00 |
£ 399.00 | £ 5,622.38 | £ 16,250.00 | 36 | 8.90% | 03/04/2023 | 6,000 | £ 600.00 | |
£ 401.17 | £ 7,900.00 | £ 15,074.70 | 36 | 8.40% | 31/03/2023 | 10,000 | £ 1,000.00 | |
£ 409.00 | £ 6,521.40 | £ 14,411.25 | 36 | 7.40% | 31/03/2023 | 9,000 | £ 500.00 | |
£ 449.00 | £ 6,082.47 | £ 18,152.00 | 36 | 8.90% | 03/04/2023 | 6,000 | £ 1,650.00 | |
£ 449.00 | £ 7,447.19 | £ - | 48 | 9.70% | 03/04/2023 | 10,000 | £ - |
MG4, ZS and MG5
Chinese-owned MG has been dominating the value end of the UK’s EV market for the last couple of years.
Leading the charge is the new MG4, which is going head-to-head with the likes of the VW ID.3 and Cupra Born, but at a lower price point.
The offer highlighted here at £269 a month for the standard range 51kWh model is one of the best value EVs you can buy in the UK.
Charging the MG4 EV standard range takes just over eight hours using a 7kW home charge point. At a 100kW rapid charge point, the MG4 EV standard range will charge from 10-80% in around 32 minutes.
The £299 a month ZS was given a facelift in 2022 and the 51kWh version can travel up to 198 miles (WLTP) on a single charge, which is 35 miles more than its predecessor.
The MG5 is also priced from £299 a month so it’s possible to opt for a crossover SUV or estate car, depending on what you prefer.
The long-range MG5 is also the best option for those looking to do bigger trips at a more affordable price. It has a total WLTP range of 250 miles - 36 miles longer than the entry-level model.
The Peugeot e-2008 is also worth a special mention as it has one of the biggest discounts in the lead-up to March out of the top 10.
The e-2008 is priced at £449 a month but comes with a £1,650 deposit contribution when funded through Peugeot’s own new car finance.
The Vauxhall Corsa-e also comes with a chunky £1,500 discount until the end of March for those looking for a deal on their new EV.
Once you've chosen your next EV, why not compare which EV charger you would like to install, compare charging costs and arrange an installation.
