Best Electric Car finance deals - January 2025

If you're looking for electric car finance deals then you've come to the right place. We've rounded up the best PCP deals on EVs the market has to offer.

Electric cars continue to grow in popularity. But with question marks over long term battery life, opting for a finance deal rather then buying an electric car could be a sensible option, at least in the short term. 

Despite concerns over range and charger availability, running an electric car really does make sense for a lot of drivers. Yes, you may need to think about how an EV will fit into your life, but provided you plan carefully and charge when rates are cheapest, electric car running costs are extremely low. Maintenance costs are generally affordable too, thanks to an electric car having fewer moving parts. 

However, as with any relatively new technology, it’s wise to retain a certain amount of scepticism when considering driving an electric car. Be it batteries, motors or chargers, the technology involved is evolving very quickly, meaning current tech could be rendered out of date in double-quick time.

In order to shield yourself from some of the depreciation this might cause, an electric car finance deal could be the perfect solution.

Find a great PCP deal and you'll benefit from affordable, predictable monthly payments and the ability to just give the car back at the end of the agreement, with nothing else to consider, if driving electric isn't for you. However, if you do find that an EV fits right into your life, you have the option to either pay the optional final amount and own the car, or upgrade to a new model.

After more deals on new cars? Check out our round-up of all the best new car deals around. 

Electric Car Leasing and PCP Deals - A-Z by Car Maker

Leasing and PCP are both popular ways to get behind the wheel of an electric car. Here's our list of the best EV leasing and PCP deals being offered by carmakers right now. 

Electric car finance deals

We've searched high and low for the best electric car finance deals in the UK so you don't have to. We update this page every week to make sure we bring you the best deals.

What are the benefits of buying an electric car on finance?

Aside from the environmental benefits, lower running costs and lower tax associated with EVs, taking out a PCP deal on an electric car gives you flexibility. For a relatively affordable deposit - often covered at least partially if you have a car to trade-in - and fixed monthly payments - you get to try the EV life for size.

If, at the end of your deal, you're not convinced, you can simply give the car back, or use the equity against a new PCP deal on a car that might better fit your needs. If it turns out the EV is a great fit, a PCP also gives you the option of being able to buy the car outright and continue motoring for many happy miles to come.

What are the negatives of buying an electric car?

Wider concerns about running an EV, particularly as your only car, are well documented. But aside from range anxiety and charger drama, many electric drivers report being pleasantly satisfied with the results of making the electric switch.

As new technology, electric vehicles currently cost significantly more than their ICE-powered counterparts. And that means higher upfront costs like initial deposits, and higher monthly payments than a petrol or diesel equivalent. However, some of this cost is clawed back through cheaper running costs, while many EV deals have significant incentives, like large deposit contributions, 0% APR and discounted home chargers to encourage you to plug in. 

Another consideration is early termination of your PCP agreement. This is an issue regardless of how your car is powered, but if the EV life really doesn't suit you, paying to terminate a PCP early can be an expensive business. As ever, it pays to be informed of any and all costs before you sign the deal.

How do PCP prices for EVs and non-electric cars compare?

As they tend to be loaded with the latest technology and packed with very expensive batteries, electric vehicles tend to be priced considerably higher than their petrol and diesel powered counterparts - for now at least. However, as the car industry sees electric cars as the future, in the shorter term there are some very affordable deals to tempt you into going electric.

It's also worth considering your overall running costs should be much lower if you finance an EV, as you won't be paying for fuel any more, tax rates are lower, ULEZ or other clean air zones are no longer a worry, and you'll be making a small contribution to lowering emissions, too.

Can I still get a home charging point even with a finance deal?

Yes, many carmakers even offer a range of charging points or discounted installation as part of their deals, and these can qualify for a government grant. As long as you own a flat with off-street parking, you can get up to 75% of the unit and installation costs covered, up to a maximum £350 including VAT. Sadly, single occupancy houses and bungalows aren’t covered by the scheme.