The RAC has launched a new leasing service to make switching to a brand-new EV easier and more affordable.
The RAC has joined forces with Hitachi Capital Vehicle Solutions to offer a wide range of the most popular EV models currently available on the market.
RAC say that while the deals offered by the RAC are competitive compared to other forms of finance on EVs, they can also work out cheaper than popular petrol models, particularly when factoring in the savings on fuel.
For example, 10,000 miles of petrol for a car capable of doing 50 miles per gallon would set drivers back in the region of £1,179 a year at the current UK average price of 131p a litre in stark contrast to equivalent electricity cost of around £167** – a saving of more than £1,000 (£1,012) a year.
And, as EVs are exempt from car tax, there’s a further saving of nearly £500 over three years which equates to £163 a year. This means that between fuel and car tax, EV drivers can be over £1,300 a year better off than those in petrol or diesel cars.
As a result, when taking all running costs into account over the most common lease period of three years, the RAC believes it can work out considerably cheaper to run an electric car than a similar sized petrol one.
Drivers using the new RAC leasing site can also select a service and maintenance plan so they can be even more certain of their costs.
RAC leasing comes with breakdown cover as standard which gives drivers access to the RAC’s van-fitted EV Boost emergency charging system should they run out of charge on a journey or encounter an out-of-order charge point.
RAC patrols also have the equipment in their vans to be able to tow stricken EVs with all four wheels off the ground which means customers don’t have to wait for a separate tow truck.
RAC director of EVs, Sarah Winward-Kotecha, said: “We know from RAC research there’s a growing desire among drivers to go electric but that the high upfront cost tends to be the biggest barrier to take-up, so we’ve teamed up with Hitachi Capital Vehicle Solutions to help people make the switch more easily and more affordably.
“Using the RAC’s manufacturer relationships, combined with Hitachi Capital Vehicle Solutions’ expertise and buying power, we’re able to offer some of the most competitive leasing deals available.
“We’d urge any driver thinking of changing their vehicle to think about all the costs they’ll pay for the period they have the car, as with an electric model there are substantial savings to be had.
Jon Lawes, managing director at Hitachi Capital Vehicle Solutions, said: “By partnering with the RAC we are confident that more people than ever will realise that getting into an electric car is far easier and more affordable than they might have thought.
“We’ve worked closely with RAC to create a site that allows drivers to find their perfect car easily by browsing a range of competitive offers with flexible initial rental, term and mileage options.
“It was clear to us that they were the natural choice to work with to help make the switch to electric a reality for drivers, particularly as they’ve pioneered breakdown solutions which give drivers complete peace of mind when it comes driving an electric car.”
Image: courtesy RAC