Is It Better to Lease an Electric Vehicle?

Electric Vehicles are fast becoming a popular choice among consumers. Although the battery-powered alternative to conventional cars is still evolving, as more manufacturers are stepping into the EV game, the pros of driving an EV are beginning to draw in customers. As an eco-friendly alternative that works perfectly on roads integrated with charging stations, the electric vehicle may eventually completely replace cars that use internal combustion engines.

But should you buy or lease an electric vehicle? There are benefits to both, but given the high prices and yearly improvements when it comes to performance and innovation, leasing an electric vehicle may actually be a better idea than buying.

What are the benefits of leasing an electric vehicle?

While purchasing a brand new electric vehicle may sound like an amazing idea, better and more innovative EV's are coming out every year, and electric vehicles are still very expensive to buy. Keeping these in mind, here is why you should lease an electric vehicle instead:

Lower monthly payments: Instead of buying an expensive car and paying large monthly installments, you could still drive around in a powerful EV at a third amount you would have to pay if you purchased your car. Monthly payments are typically much cheaper than loan repayments for leases, giving you the opportunity to enjoy riding an EV without worrying about money.

Running costs won't bother you: EV's, even though initial costs are high, have lower running costs, as charging the battery is far less expensive than buying fuel regularly. EV owners typically have to rent batteries anyway, and leasing the whole car gives you the opportunity to spend less money overall per month on your car.

Enjoy flexibility and choices: Most lease agreements last between two to four years. Unless you renew your lease at that point, you won't have to use or pay towards that car anymore. Since newer and better electric vehicles are being released every year, you can enjoy a greater variety in the cars you drive over the years, within an affordable price range.

Lower rate of depreciation: Electric Vehicles are related to lower running costs, parts and accessories costs (as they have a lower number of moving parts), and the lithium-ion batteries will not affect the car's performance for the first four to five years. As long as you lease newer EV's for no more than four years at a time, your lease towards your car could actually work in your favor financially.

Electric vehicles could be the cars of the future, and the best way to experience them for yourself without putting a dent in your budget is by leasing. If you live in Goldsboro, Greenville, Kinston, or Rocky Mount, then visit our Deacon Jones Nissan dealership in Goldsboro, NC, to find out more about leasing an electric vehicle!

Source: Nissan