Is electric car leasing worth it?
Car leasing yes or no? A question that has been on the minds of drivers for some time. Is it worth leasing a car or is it better to buy it? The topic of electromobility does not simplify the whole thing. Many would like to jump on the bandwagon and buy an e-car, but are unsure what the future of electromobility holds. This overview will help you decide.
High petrol prices and growing interest in environmentally friendly driving mean that more and more people are considering switching to an electric car. However, a new car is expensive to buy on the one hand, and on the other hand, there is also the question of where the technical development is headed. In the last five years, the average range of electric cars has almost doubled, so it can be assumed that further development steps will follow.
As an alternative to buying, there is the option of leasing the electric car. There are monthly costs here, but you don't have to decide directly on a model and invest a lot of money at once. But: How does leasing work exactly? Is it really cheaper to lease an electric car in the end? And what are the differences between electric car leasing and ordinary leasing?
Electric car leasing: What is it anyway?
Whether it's a combustion engine or an electric car, leasing works on the same principle. The car dealership makes the vehicle available for a certain period of time and receives a monthly leasing rate from the lessee in return. The leasing rate is a kind of rental fee, which means that the electric car remains in the possession of the car dealership. The amount of the leasing instalment can be determined in two different ways.
Residual value leasing
The expected residual value at the end of the lease term is determined in advance. This residual value is then used to calculate the amount of the leasing instalment. If there is a difference in the residual value at the end, the lessees have to pay back. It is important here that the residual value does not correspond to the purchase price. The takeover price according to the lease term should therefore be determined separately.
Mileage leasing
In advance, it is estimated how many kilometers will be made annually. The more kilometers are driven, the higher the monthly leasing rate. Nevertheless, the specified kilometers should be rounded up to avoid additional payments if they are exceeded.
At the end of the leasing period, the lessee has the option of purchasing the vehicle in most cases.
Any repairs, maintenance, taxes and insurance are not included in the leasing rates and must be arranged and paid by the lessee. In addition, car leasing often requires fully comprehensive insurance, which causes additional costs.
What are the advantages and disadvantages of electric car leasing?
Advantages
- Less equity required: Buying an electric car, especially a new car, is a lot more expensive than the down payment that is sometimes incurred when leasing. Nevertheless, it is advisable to set aside money for repairs even when leasing.
- Forward-looking planning: Monthly, fixed installments allow for better planning. In this way, the personal budget can be well divided.
- No long-term decision: With electric car leasing, you can choose a model with the certainty that a new model could be chosen again in a few years.
- No problems with sales: At the end of the leasing period, you don't have to worry about selling the electric car, but can simply return it.
Tax advantages
Electric vehicles benefit from tax advantages in many cantons. You can find all the information about this in our article on the topic of subsidies for electric cars.
Disadvantages
- No payment of the vehicle: Leasing instalments do not serve to pay off the vehicle. The sale at the end of the term is at market value and is not reduced by the premiums paid.
- Possible additional costs: Additional costs may be incurred when returning the vehicle at the end of the leasing period, for example if the number of kilometres driven has not been adhered to or the condition of the vehicle is worse than expected.
- Fixed contract period: Early termination of the leasing contract is difficult or sometimes not possible at all without incurring additional costs.
- Requirements regarding the workshop: Many leasing providers have specifications for workshops they work with. This means that it is sometimes not possible to choose the workshop for repairs to your electric car yourself.
- Unexpected additional costs: Costs for repairs, maintenance, but also taxes are not included in the leasing rate and must be paid by the lessee himself.
What is special about electric car leasing?
As we have seen above, leasing an electric car works almost identically. Nevertheless, there are some differences with regard to leasing an electric car, which also lead to uncertainties on this topic.
Depreciation
One argument in regular car leasing is often that the combustion engine loses value particularly sharply in the first few years. In the first three years, you have to expect a third, in the first 5 years even a 50% loss in value. In the case of electric cars, the loss of value is much lower in the first few years. For leasing, depending on the calculation, this affects both the leasing rates and the purchase price in the event of a takeover.
Geringere Zusatzkosten beim Elektroauto-Leasing
Einer der grössten Nachteile beim Leasing ist, dass jegliche Reparaturen, Wartungen etc. selbst gezahlt werden müssen. Beim Elektroauto fallen diese Unterhaltskosten tendenziell tiefer aus, da die Wartung von Zündkerzen, Schaltgetriebe, Kupplung, Auspuff etc. wegfällt. Zudem erhalten Elektrofahrzeuge bei vielen Versicherungsgesellschaften Rabatte auf Prämien. Die zusätzlichen Kosten neben den Leasingraten fallen also geringer aus.
Technische Entwicklung
When it comes to the residual value of an electric car, technical development also plays a decisive role. Due to the rapid technical development, it is currently very difficult to calculate the future residual value. In the consumption of electric cars, for example, the development is progressing rapidly and the range of electric cars has almost doubled in recent years. This means that previous models quickly lose value. Technical progress during the leasing period can therefore lead to a sudden and unexpected change in the residual value, but this decrease in the residual value was not taken into account in the original contract.
Conclusion: Is electric car leasing worth it?
If you are thinking about leasing an electric car, you should first and foremost weigh up what makes financial sense. Here, monthly costs are offset by a larger purchase price. It is also important to know that the car does not belong to you when leasing. So if you want to buy exactly this car at the end of the leasing period, you will incur high costs at a later date. Our comparison article serves as an additional decision-making aid.
In contrast to the combustion engine, the additional costs of the electric car are lower because less maintenance is required. Again, however, you should not underestimate the fact that an unexpected repair or similar can also occur with an electric car.
A final and all the more important criterion is the residual value. Although the electric car loses value less quickly, the residual value is strongly dependent on technical progress.