Your Definitive Guide to the Abarth 500e

The Abarth 500e - Your Definitive Guide

Is this the best small EV?

The shortage of smaller EVs, and cheaper leasing deals, hasn’t gone unnoticed in 2022 / 2023. While there are an abundance of £40,000+ options to lease, the difficulty for some smaller businesses and consumers is that there are not the same tax and VAT advantages nor does the cost savings based on electricity v fuel and cheaper running / servicing costs provide sufficient recourse for all.

And while the volume of searches for electric cars for lease in the UK increases to grow, the availability (and cost) of the products has not always been that satisfactory for the customer.

But there are some key pros to leasing an EV which helps redress this situation. At e-car lease we primarily offer a finance product known as contract hire which, as the title would suggest, is a fixed term contract to use a vehicle for a predetermined time before returning at contract end.

Commonly a 2, 3 or 4 year contract (although some shorter and longer ones are available), utilising this finance product is a direct alternative to other common finance products like a PCP (Personal Contract Purchase) or HP (Hire Purchase). The monthly rental which you or the company will pay is attributed to your contract requirements;

•  Term - as noted above, this will generally be 2, 3 or 4 years with some 18 month and 5 year available;
•  Annual Mileage - most finance companies offer between 5,000 and 40,000 per annum BUT restrictions do apply based on the EV’s range;
•  Maintenance - prices shown will be based on driver-maintained agreement, which presumes that all servicing, maintenance and tyres is covered by the driver, but a funder-maintained contract hire agreement is available to cover the cost of this for the term (even outside of the vehicle’s warranty). Aspects like services, tyre replacement and breakdown are covered; and
• Initial rental - sometimes referred to as a deposit, the rental payment you make in month 1 can be either a 1/S (zero-deposit) or a factor of 3/6/9/12. The more initial rental you pay in month 1, the lower your monthly rentals will be. However, the overall cost of the agreement will stay the same, as this is not an interest-led product like PCP or HP.

Should I buy or lease an electric car?

As noted above, there have been two primary concerns about zero-emission transport being: 1) cost price of the vehicle; and 2) Residual value of the vehicle. As highlighted above, the volume of expensive cars has been a difficult proposition for many buying their EV, as PCP and HP are often underpinned by large deposits and interest (which has continued to increase in accordance with the Bank of England).

And while some personal and business customers pursue these methods, especially when transacting with the local franchised dealership, the added concern of end-value after the contract has finished has not been without its issues.

During 2023, it has been commonly reported that used EV’s have been negatively impacted at auction and remarketing. But, before we jump to panic mode, much of this can be attributed to some EVs simply being too expensive at the front end (purchase point) and the lack of incentives or support in the used-EV market in comparison to the new car market.

While this does need addressing, for all involved in the EV markets, one of the true pros of leasing / contract hire is that you never own the vehicle. At contract end, your broker or finance company will organise the collection and, so long as the vehicle is not over contract mileage or damaged, there are no penalties or liabilities to the individual or business. For more risk-averse and cost-certain led customers, lease your new electric car.

And looking to join our leasing market shortly with a new product is Abarth, with their new 500e Hatchback and Convertible. The Italian racing and road-car producer is now owned by Stellantis and is responsible for upgrading and styling certain Fiat products. One of the cheapest, and most-popular small EVs, is the Fiat 500e so it is not unsurprising that this Fiat subsidiary are now applying themselves to BEV technology as they have already done for Fiat with their 124 Spider, Fiat 500 hatch and convertible plus the Pulse.

The Abarth 595 and 695 are currently available to buy or lease in petrol format and these “Born to Amaze” options are noted as being some of the most exciting cars in the segment. Now if you want to make your Abarth lease a little more green, just head to the Abarth website and order your new option in pure electric format.

What specifications of Abarth EVs are available?

As at May 2023, the group will be launching two specs (for both the hatch and convertible) which includes: 

•  500E - from £34,195 this includes 17” alloys, matt grey dashboard, a 10.25” touchscreen navigation, Abarth Sound Generator, Apple CarPlay, 7” TFT cluster, climate control, cruise control, keyless go, dusk sensor, rain sensor, ESC, LED rear and signature lights, autonomous braking, Scorpion Sound Pack (for Hi-fi Beats); and
•  Turismo - from £38,195 this level adds 18” alloys, alcantara dashboard, alcantara sporty seats, wireless charging pad, Scorpion Style Pack (dark tinted windows, front armrest, sport pedals, fixed glass roof), Scorpion Tech Pack (electrically adjustable door mirrors, 360 degree parking sensors, blind-spot detection, wearable key) and Winter Pack (heated front seats and windscreen).

In terms of colours, choose from Antidote White, Acid Green, Adrenaline Red and Poison Blue.

And is the electric Abarth any good?  Does it Perform well?

The 37.8 kWh lithium-ion battery will offer 0 – 62 times of 7.0 seconds, 96 mph top speeds and 114 kW (or 153hp). The initial model will be FWD. Expect a combined winter range of 115 miles with warmer weather allowing for 160 miles.

On charging, the 11 kW AC max will allow 4 hour and 15 min 0 – 100% charging times with the 85 kW DC maximum allowing 25 minute 10 – 80% times. As a small sports hatch, this has a cargo volume of 150L and vehicle fuel equivalent of 150 mpg.

But what EVs compare to the new Abarth 500e?

If you are in the market for a small, but exciting, EV then compare the Mini Electric, Honda e Advance, Renault Zoe and ORA Funky Cat.

Want to know more?

Just to call our expert team at e-car lease on 01942 910 001 or email at [email protected].