What's the best luxury electric lease car?

The best luxury electric car lease deal?

Luxury and electric cars - do they really go together? Too long has there been negative conations with EVs in that they are boring/poor quality or uninspiring. Some of this has stemmed from the ignorance in the mainstream press; there is a true lack of understanding about electric cars and vans with much of the headlines focusing around “petrol and diesel bans”.

Only two days ago the press, including the Financial Times, have been reporting about some seemingly drastic changes by our Government which will see a BAN on combustion engines by 2030. The move away from combustion has been subject to some discussion - will this happen in 2040/2035 or 2030 as it is now being reported?

The problem with this type of article is the “spin” which some of the publications are taking in that they concentrate on the negative, or perceived negative, aspects of the transition. You will note that many articles are discussing lack of choice, poor charging infrastructure, inadequate range, and vehicle price disparity (compared to petrol and diesel).

In the article by the Financial Times, they state that, “While electric car sales are rising strongly, they were still below 7 per cent of all new vehicles bought across the UK last month,” and “Electric cars, which are currently more expensive than petrol or diesel vehicles...”  When you consider the exponential growth of EVs you have to look carefully at statements like “below 7%” carefully.

Yes, pure electric is still in the minority against combustion but if you look at how many EVs are being registered month to month compared to 2018 and 2019 and you can clearly see where this going.

Bear in mind the contract hire is a key part of the EV change and with many customers on 2-4 year contract cycles, we have to wait for those contracts to complete before changing the vehicles. Our industry will be the catalyst for the change, and you will see some considerable movements in both the personal and business contract hire markets. Many leasing brokers are reporting significant increases in EVs across their new sales; 40-50% in some cases.

But how do we do this with them being too expensive? Again, this is not an entirely true statement, and it is one too quickly issued by many in the mainstream press. When you compare a “cash” value from a petrol to an electric car you will note the RRP is generally more expensive.

However, given that many of the customers will be using PCP or contract hire, you have to take into account factors such as residual value and enhanced offers/discounts, which actually bring more pricing equilibrium.

When looking at EVs, don’t just consider the price per month on the finance - you need to take into account the maintenance costs, fuel vs electricity, company car tax and National Insurance contributions (if a business contract hire arrangement). It isn’t true to say an EV is more expensive if the overall cost (whole of life cost) is actually cheaper. The problem is that the mainstream opinion is trying to force customers to focus on the wrong aspects of the vehicles.

Why are manufacturers producing luxury electric cars?

What you also have to consider is that the luxury element of the electric car leasing industry is growing. Part of this is that manufacturers want to showcase what is achievable via EV and use stunning vehicle examples to bring a credence and following to this fuel type.

You also have to be aware that the considerable advantages to company car users means that luxury vehicles are now free of tax where they are emitting zero CO2 from the tailpipe. A director or senior manager looking at a Range Rover or Porsche combustion option would be looking to pay hundreds, if not thousands, of pound per month in company car tax (BiK).

When you compare this to the Mercedes EQC, Audi E-Tron and the Porsche Taycan with zero company car tax liability for 2020-21, you quickly come to some financial conclusions - luxury electric vehicles are the way to go for business contract hire customers and business owners.

The move from Porsche to add their EV into the luxury segment has really given a crucial level of support to the EV movement and demonstrates just how important this sector is becoming. As one of the most iconic and aspirational badges in the automotive world, the addition of the Taycan has truly given an alternative to the Tesla Model S.

As you will see from their website, Porsche.com the model is available in a 4S, Turbo and Turbo S which range from circa £84,000 to £140,000! A basic 4S Taycan offers circa 530ps, 180 miles of real world range and 0-62 times of 4 seconds.

The Turbo S will offer 761ps, a 2.8 second 0-62 time and around 200 miles of real-world range. As with any electric vehicle, you need to aware of the range, charging times and seasonable effects, so you can be sure this is the right decision for you. Should all of that information meet your needs and requirements as a personal/business user, you can progress to getting the best luxury leasing offer on your new Taycan!

Porsche Taycan Saloon 420kW 4S 93kWh 4dr Auto

A big thank you to our business customer, from Staffordshire, for sending pictures of their latest electric fleet addition (they already have a beautiful Audi E-Tron!). In terms of the car shown, the Porsche Taycan Saloon 420kW 4S 93kWh 4dr Auto, this is based on the following configuration:

• White solid paint
• Smooth finish two-tone leather - Black/Bordeaux Red
• 21" Taycan exclusive design alloy wheels
• Privacy glass
• Power steering plus
• Front seat heating
• Park assist including reversing camera
• Electrically folding exterior mirrors
• Bordeaux Red seat belts
• Mobile charger connect / With a capacity of up to 11 kW, Porsche Mobile Charger Connect is a quick and convenient way to charge the Taycan at home overnight.

As standard the car includes 2 zone climate control, sound plus package, black accent package, 19” alloy wheels, cruise control, floor mats, LED headlights, thermally insulated glass, 8-way electric comfort seats.

Front seat heating, cruise control, rain sensing wipers, collision brake assist, adaptive air suspension, Porsche stability management navigation, tailgate button, Apple Carplay, lane keeping assist, electrically adjustable and heated exterior mirrors.

50kW DC on-board charger, 16.8” curbed touchscreen display, sport mode, active aerodynamics, 4-point LED running lights, heat pump, 12V socket in the front and rear compartments, LED interior lights, vehicle tracking system, keyless drive and red brake callipers.

In terms of additional options (of which there are many) consider the reversing camera, 150kW on-board charger, Porsche electric sport sound, electrically folding mirrors and the comfort access system.

In terms of the technical side, company car and business users can note the P11d at £89,717.00 and CO2 as 0g/km. The 93 kWh battery delivers 571ps, 0-62 times of 4 seconds and service intervals of every 24months/20,000 miles.

In terms of range expect a WLTP range of 285 miles which equates to around 195 miles in cold weather and nearly 300 miles in milder/warmer weather. An 11kW AC should take 9 hours to full charge and a rapid 262kw DC (max) to take just 20 minutes for 80% charge.

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