The new Kia EV3 Electric Car Lease is here

Latest EV news - The new Kia EV3 Electric Car Lease is here

The rationale behind an electric car, whether you are a retail / consumer or a business / fleet, is based around certain key benefits and cost-savings. Thematically, we have been discussing the impact of the recent Autumn Budget for 2024, with the apparently “pro-EV” Labour Government instilling certain changes for our wider community.

One of the key topics in the build-up to the budget was the query around car tax (which is also referred to as a tax disc / road fund licence / vehicle excise duty / RFL / VED). Synonymous as they may be, we are referring to an age-old taxation which the  DVLA  have applied to vehicles operating on the UK roads.

It is a legal requirement that your vehicle is taxed, whether this be a new or used option, and it is fundamentally down to the driver to organise this via their V5. However, as contract hire and leasing is a usership product, the finance company will hold the log book (V5) for your vehicle. As such, they will manage the vehicle administration, which includes elements like the road tax, vehicle fines (speeding or parking) and any cherished / private plates.

When you lease your car, PCH or BCH, the monthly price will include the provision for the road tax. The only caveat to this is for instances where the Government changes the rules; any additional costs will be passed to the customer and they are not absorbed by the lease company.

As many EV customers will note (see image below), one of the great benefits of a zero-emission vehicle is the £0 applied for the road tax. When you look at more polluting vehicles, especially ones which expel over 255g of CO2 per km, there is a charge of £2605 for the first 12 months of road tax!

If the subsequent £180 a year didn’t awaken your senses, for a vehicle which is considered to be an “expensive car”, you will have to pay an additional £390 per year for 5 years after the first year of the vehicle’s registration.

However, one of the key advantages behind an electric was that it was not subjected to the expensive car supplement. This was until very recently, where the Labour Government have confirmed a seismic change. For any vehicles registered on or after April 1 2025, the additional car supplement will be applied.

This means that all EVs with a LIST PRICE of £40,000+ will have to pay £410 per year from the end of the first year and until the car’s six year anniversary. With an additional £2,000 of car tax being applied to these vehicles, many campaigners are a little frustrated. In a period where we are encouraging uptake, especially for the personal / consumer aspect of the industry, this is not wholly welcome.

The other point is that the average price of vehicles has increased since the expensive car supplement was introduced back in 2017 but this is not being reflected in the rules. There are a high volume of vehicles in the EV network which will come under these new rules. The tax will therefore be passed to the customer.

One vehicle which is not yet impacted by the surcharge is the new Kia EV3. The award winning small SUV is available to order in the UK as at November 2024 and the most expensive car is the list price of £35,179 GT Line S. With bigger battery or higher specification alternatives on the horizon, the Kia group will have to be mindful of the pricing changes.

But what options of the EV3 can you lease?

•  Air - from £32,995 this will include 17” alloys, 12.3” driver display and touchscreen navigation, climate control, front/rear parking sensors, rear parking camera, forward collision avoidance, blind-spot collision avoidance and highway driving assistant;

•  GT Line - from £35,995  this will include 19” alloys, GT Line Styling, artificial leather seats, flush door handles, privacy glass, lumbar support (driver), wireless phone charger, LED headlights, digital key and dynamic welcome light; and

•  GT Line S - from £42,995 this adds heated front and rear seats, ventilated seats, premium relaxation seats, 360 degree monitor, smart power tailgate, HUD, memory seats, 8-speaker Harmon Kardon and sunroof.

In terms of colours choose between Midnight black, Sunset Orange, White Pearl, Lithium Silver and Frost Blue. The GT Line S can be procured with a Heat Pump.

But how will the new EV3 perform - is it a good EV?

The brand have confirmed two battery derivatives will be available for the UK market including:

•  EV3 Standard Range - the 55 kWh lithium-ion battery will offer 0 – 62 times of 7.5 seconds, 106 mph top speeds and 150 kW (or 201 hp). This model is a FWD option. Expect a combined winter range of 170 miles with warmer weather allowing for 230 miles - 200 miles combined. On charging, the 11 kW AC max will allow 6 hour 0 – 100% charging times with the 100 kW DC maximum allowing 32 minute 10 – 80% times. This has a cargo volume of 460L and vehicle fuel equivalent of 147 mpg. The EV3 will feature bidirectional charging - a 3.6kW AC Vehicle-to-Load (V2L). An indoor and outdoor port means you can power external devices too; and

• EV3 Long Range - the 78 kWh lithium-ion battery will offer 0 – 62 times of 7.7 seconds, 106 mph top speeds and 150 kW (or 201 hp). This model is a FWD option. Expect a combined winter range of 235 miles with warmer weather allowing for 320 miles - 280 miles combined. On charging, the 11 kW AC max will allow 8 hour and 30 min 0 – 100% charging times with the 135kW DC maximum allowing 33 minute 10 – 80% times. This has a cargo volume of 460L and vehicle fuel equivalent of 145 mpg. The EV3 will feature bidirectional charging - a 3.6kW AC Vehicle-to-Load (V2L). An indoor and outdoor port means you can power external devices too.

So if the Kia EV3, which won the prestigious Car of the Year for 2024 at the Electrifying awards / the Golden Steering Wheel awards /Best Car below £40,000, is your preferred leasing option (personal or business) for 2024 / 2025, just build it on the Kia manufacturer website  and send it to our expert team. Or just get in touch with our team on 01942 910 001 or by emailing us at [email protected]

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