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Most EV Drivers Choose To Lease Instead Of Buy

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Are you surprised by the title? We’re not — 100% not surprised. Why buy a new car technology as it rapidly improving year after year when you can lease? That is one of the biggest problems carmakers are facing today as they try to sell EVs, and so far, they haven’t come up with the solution needed.Most EV Drivers Choose To Lease Instead Of Buy

It should come as to no surprise that many or even most electric vehicle (EV) drivers would rather lease than own an electric car. The reasons why are many but we can easily point to two obvious factors:

1) The state of the economy still doesn’t favor consumers.

2) The electric car options will be much better in a few years. Why buy a $30,000 or more EV when you can lease and then buy a much better $30,000 or more EV in a few years?

According to Bloomberg New Energy Finance (BNEF), 80% of fully electric car drivers lease their cars and 55% of plug-in hybrids (PHEV) are leased*. For $220 per month or even sometimes as low as $100, you can lease an electric car. These are hard deals to pass up.

Used to building a new car every 5 years and updating it yearly, the industry hummed along for decades. But consumer affordability has not kept up with inflation. Owning a gas car also implies living with fluctuating gasoline prices. Owning a new technology (an EV) seems risky, though — so hey, why not lease?

EVs came along with the promise to give us an affordable and cleaner energy solution for our mobility needs. They’re already doing so for many people, with more promise around the corner.

https://cleantechnica.com/2018/01/06/ev-drivers-choose-lease-instead-buy/