When Anthony Santos sought a replacement for his Audi Q3, a diesel SUV, he initially hesitated to consider an electric vehicle (EV). However, he became interested upon discovering the option to lease a used EV. Previously, finding a used EV to lease was challenging, but the landscape is shifting as there are now around 1 million EVs on British roads, largely due to early adopters.
In the UK, the second quarter of 2025 saw a 166% increase in used car leases compared to the previous year, with EVs contributing significantly to this growth, according to the British Vehicle Rental and Leasing Association (BVRLA). Thom Groot, CEO of the Electric Car Scheme, noted that used EV leasing was minimal three years ago due to a lack of vehicles in the market, but by 2024, nearly half of his company’s business came from used EVs.
Major players in the leasing market, including Lex Autolease, Arval, and Zenith, have started offering leases on used EVs, further facilitating accessibility. With new electric vehicles averaging £50,000, government initiatives have been launched to subsidize purchases, making secondhand options more affordable.
Santos leased a lightly used Mercedes-Benz EQA for £360 a month through a salary sacrifice scheme, which provides tax benefits by deducting costs from pre-tax income. Such arrangements, available through various employers, aim to lower the cost of electric driving for both low and higher-income individuals.
Leasing agreements typically span two to three years and may include costs such as road tax and maintenance. However, lessees might still incur fees for excess mileage or damage beyond normal wear and tear. While salary sacrifice schemes offer significant tax savings, alternatives exist for those whose employers do not participate.
Leasing companies are using these programs to address rapidly depreciating vehicle values, as many electric vehicles have not retained their value as well as traditional cars. With leasing reducing the financial risks associated with ownership, the market for used EV leases is expanding, reflecting growing consumer interest in electric driving options.
Source: https://www.theguardian.com/money/2025/nov/08/electric-cars-leasing-used-ev-secondhand