What Is The UK Plug-In Car Grant?
What Are The Benefits Of The UK Plug-In Car Grants?
- 35% off the purchase price of your new car (capped at £1,500).
- There won’t be any hassle with reimbursement – dealers will simply take the grant off the prices of eligible cars.
- The grant has now been extended through to 2022/23, so you have plenty of time to decide whether the switch will be right for you.
- The scheme also offers support for those purchasing vans (up to £5,000), trucks (up to £20,000), taxis (up to £7,500) and motorbikes (up to £1,500).
Does The UK Plug-In Car Grant Apply To Leasing?
Electric cars are, famously, more costly than their fossil-fuel driven equivalents. The new Volkswagen e-Golf, for example, would set you back around £28,000 even including the OLEV grant, whereas you can get a regular Golf from around £22,000.
- You can lease this same e-Golf through Leasing Options from under £260 a month on a three-year contract, meaning you don’t have to fork out a large sum at the outset.
- By the end of the contract you will have paid under £12,000, just over a third of the RRP.
As we explain here, constant technology advances mean cars like these decrease in value rapidly. However, when you lease, the leasing company incurs this reduction in value, not you, leaving you free to lease more up-to-date models without any loss.