Car leasing has been a very popular option for businesses and corporates especially in a cost sensitive market like India. But the world is changing and so is the automobile industry. The emergence of electric vehicles has brought in a new avenue for both individuals and corporates. The main concern with electric vehicles was the upfront cost but leasing the EV has become a prominent option instead of buying one.
In this article we’ll discuss several key reasons why EV leasing makes more financial sense for most drivers and reasons for buying one.
Cost Savings:
The most compelling argument for EV leases is potential cost savings. Electric cars do not require costly, which is a huge monthly expense eliminated. The maintenance costs of EVs are also much lower given their fewer moving parts and minimal fluids. Typical service for an EV includes tire rotations and cabin air filter changes. Brake jobs are nearly eliminated thanks to regenerative braking systems. With so few mechanical components, there is very little service on EVs outside of consumable items.
Additionally, most electric vehicles qualify for a government subsidy or tax credit that can discount the purchase price or lower monthly payments. When you combine low operating costs with available incentives, EV leases can provide noticeable savings over gas-powered car leases.
Performance Benefits:
Electric vehicles provide instant torque delivery for superior acceleration. The lack of gear shifts also allows for smooth, consistent power delivery. While range was once a concern, most modern EVs can travel 200+ km on a single charge. At-home and public charging stations are becoming more prevalent too. For city commuting and daily driving, range anxiety is no longer an issue for most consumers. EVs also require no warmup even in cold weather. All these performance perks lead to a better daily driving experience.
Low Maintenance:
As mentioned previously, electric vehicles have far fewer maintenance requirements than internal combustion cars. There are no oil changes needed and the brake system lasts much longer. You can basically ignore regular maintenance besides tire rotations and cabin air filter changes. Unscheduled repairs are also less common thanks to the simplified drive train and lack of fluids or belts. This allows consumers to focus more time and money on core lease payments.
Environmental Impact:
For the environmentally conscious, electric vehicles are the clear choice. EVs produce zero direct emissions since they lack tailpipes. Even when accounting for electricity generation at power plants for recharging, electric vehicles are significantly cleaner than ICE cars in most regions. They are ideal options for reducing your carbon footprint. EV leasing enables access to this green technology at affordable monthly rates.
Conclusion:
EV leasing makes sense financially thanks to lower operating expenses, available incentives, superior performance, minimal maintenance, and environmental benefits. Advanced technology and smooth operation also lead to an improved daily driving experience. Consumers wanting the latest and greatest in green automotive engineering should consider the EV leasing route for their next vehicle.
