The cost of living in the UK continues to rise, and for many drivers, fuel has become one of the most unpredictable expenses. Petrol and diesel prices have fluctuated, making it harder to budget consistently.
As a result, more people are exploring alternative ways to drive, particularly electric vehicle (EV) leasing, which is becoming increasingly common across the UK.
The move to electric is already well underway. In 2021, around 11% of new cars registered in the UK were electric. Today, that figure has grown to over 22%, meaning more than 1 in 5 new cars are now electric. This reflects a clear shift in driver behaviour, as both individuals and businesses look at new ways of driving.
When comparing overall costs, EV leasing offers a different structure to traditional petrol and diesel car ownership. Instead of variable fuel and maintenance costs, leasing provides fixed monthly payments over an agreed term. Running costs also differ, as electricity is priced differently from petrol and diesel, and EVs have fewer moving parts, which can affect servicing requirements. Overall costs will vary depending on usage, charging habits, and individual circumstances.
Charging is another important consideration. Many EV drivers choose to charge at home, which is often convenient and allows for overnight charging. There is also a growing public charging network across the UK, including rapid chargers for longer journeys, although pricing and availability vary by location and provider.
In terms of eligibility, EV leasing is available to both personal and business customers. As with other types of vehicle finance, applications are typically subject to status, affordability checks, and credit approval, with terms varying by provider.
A range of incentives has also supported EV adoption in recent years. These may include tax-related benefits for company car drivers and differences in vehicle taxation compared to petrol and diesel vehicles. Availability and eligibility can change, so it’s important to check the latest information.
There’s no single answer to rising living costs, but it’s clear that more drivers are rethinking how they choose to drive. With EV adoption more than doubling since 2021, electric vehicles, and EV leasing in particular, are becoming an increasingly popular option for those exploring alternatives to petrol and diesel driving.
