Buy or lease an electric car? Which is the best option?
Are you considering switching to an electric car? The decision between buying and leasing can be crucial. Electric cars are becoming increasingly popular, but the purchase requires careful consideration.
When you buy a new electric car, you become the proud owner, but you also assume full financial responsibility. Leasing, on the other hand, offers you more flexibility and often lower monthly costs. But which option is right for you? And what other options are there besides buying and leasing?
Buying or leasing an electric car: Which is better?
While many people are fascinated by the advantages of electromobility, the question still remains whether buying an electric car is always the best option – especially since delivery times for an electric car also play a major role.
Of course, there are alternatives here too – like e-car leasing. The advantage: You're more flexible and don't have to put as much money down at once. You're still tied in, often for up to four years, even if you opt for a short-term lease .
You're more flexible with the FINN car subscription ! Thanks to flexible terms, you decide how long you want to drive your subscription-based electric car. The choice is yours – and you're not tied to one model for as long.
|
option |
Advantages |
Disadvantages |
|
purchase |
Ownership, full control |
High acquisition costs |
|
leasing |
No high acquisition costs |
Contractual restrictions |
|
Car subscription |
Maximum flexibility and cost control |
No property |
Whether buying, leasing, or subscribing to an electric car is better for you ultimately depends on your financial situation, usage habits, and long-term goals. Carefully weigh the options to find the best solution for you.
By the way : In our comparison car subscription vs. leasing you will find even more details
Is an electric car right for me? Test it with FINN!
Are you unsure whether an electric car is right for you? Do you want an electric SUV , a mid-size car, or an affordable electric compact car ? With the FINN Auto subscription, you can try out different models without committing to a long-term plan. The subscription offers you numerous benefits:
- Flexibility: You choose the flexible term.
- Cost transparency: A fixed monthly rate covers all additional costs.
- Convenience: Your dream electric car is delivered directly to your doorstep
- Variety: You have access to a wide range of electric car models
Your fixed monthly rate already includes insurance , vehicle tax , MOT , and maintenance costs . Discover the latest car subscription offers now .
Advantages of buying an electric car
Ownership and freedom of design
As an electric car owner, you enjoy complete control over your vehicle. You can design, modify, and personalize it to your liking. This freedom allows you to perfectly adapt the car to your needs.
Long-term cost savings
Over a long period of use, the cost of purchasing an electric car will pay for itself. After the financing period ends, there are no more monthly payments, reducing your ongoing expenses.
Unlimited mileage
Unlike leasing, there's no mileage limit when purchasing. You can drive as much as you want without worrying about additional fees. This flexibility is especially beneficial for frequent drivers.
State funding
Until 2030, you'll benefit from tax exemptions for newly purchased electric cars. These subsidies reduce your overall costs and make buying an electric car more financially attractive. Learn about current subsidy programs to maximize your benefits. You can find all updates on e-car subsidies in our dedicated article.
Disadvantages of buying an electric car
High acquisition costs
The purchase price of an electric car is considerable. You have to expect high initial costs and often require financing. This initial financial hurdle can put a significant strain on your budget and requires careful financial planning.
Rapid loss of value
Own maintenance and repair costs
Risk of technological obsolescence
Advantages of e-car leasing
Lower monthly costs
With leasing an electric car, you benefit from lower monthly payments compared to purchasing. This financial relief allows you to manage your budget more flexibly and potentially invest in other areas.
Regular vehicle changes
With leasing, you'll always drive a new or nearly new electric car model . Every two to four years, you have the option to upgrade to a more modern vehicle. This way, you'll always stay up-to-date with the latest technology and enjoy the benefits of the latest developments in e-mobility.
No risk of loss of value
A key advantage of leasing an electric car: The risk of depreciation is borne by the leasing company, not you. Due to rapid technological development, electric cars are often subject to greater depreciation than conventional vehicles. With leasing, you don't have to worry about this.
Plannable costs
Your monthly leasing payments are fixed, allowing you to plan your finances precisely and avoid unexpected additional costs. Maintenance and insurance are often already included in the payment, further simplifying cost control.
Tax advantages
As an entrepreneur or self-employed person, you can often deduct the lease payments for an electric car from your taxes. This can lead to significant savings and makes leasing particularly attractive for business purposes.
Access to the latest technology
Electric cars are evolving rapidly. By regularly switching vehicles while leasing, you benefit from improvements in range, charging speed, and driver assistance systems without committing to a single model long-term.
Disadvantages of e-car leasing
Contractual restrictions
The leasing model entails various contractual obligations. One of the most significant is the mileage limit. You must adhere to a predetermined annual mileage limit. Exceeding this limit can result in significant additional costs. Furthermore, regular maintenance is often contractually stipulated. This usually has to be performed at authorized workshops, which limits your flexibility and potentially results in higher costs than with a free choice of workshop.
No property rights
A key aspect of leasing is that, despite regular payments, you don't acquire ownership of the vehicle. The car remains the property of the leasing company for the entire lease term. This means you're not accumulating any assets; you're simply paying for the use of the vehicle.
At the end of the lease term, you usually return the car. Want to buy the leased car after the contract ends? Then read our dedicated article for more information.
Additional costs
In addition to the monthly leasing payments, you may incur various additional costs. These can be particularly significant at the end of the lease term. If the vehicle has damage beyond normal wear and tear, or if you have exceeded the agreed mileage, you may be required to pay substantial additional fees.
Even over the entire term, you often pay more when leasing than when buying an electric car outright. Additional costs may arise when returning the leased vehicle. The leasing company expects the car to be returned in perfect condition. Speaking of which: Learn more about car leasing costs in our article.
Loss of flexibility
A leasing agreement binds you to the vehicle for a specific period of time. Early termination of the lease is usually associated with high costs or even impossible. This can be problematic if your circumstances change and you no longer need the car or a different model would suit you better. Adjustments or modifications to the vehicle are also usually not permitted or only possible to a very limited extent when leasing. You must return the car in its original condition.
What is battery leasing?
Battery leasing is an innovative financing option for electric car purchases. You purchase the electric vehicle but lease the battery separately. This method offers several advantages:
- Lower acquisition costs: The purchase price of the electric car is significantly lower because the expensive battery is not included in the price.
- Battery warranty: You enjoy a comprehensive battery warranty for the entire lease period.
- Technology upgrade: As technology advances, you can easily replace the battery to benefit from the latest developments.
- Risk minimization: You do not bear the financial risk of premature battery wear.
However, please note:
-
Additional monthly costs: In addition to the vehicle costs, you pay a separate leasing rate for the battery.
-
Restrictions on use: Specific conditions for vehicle use may apply.
|
aspect |
Details |
|
Cost savings when purchasing |
Up to 30% lower purchase price |
|
Typical battery leasing period |
3-5 years |
|
Average monthly leasing rate |
50-100 euros |
Battery leasing is particularly suitable for price-conscious electric car buyers who want to benefit from reduced acquisition costs and technological flexibility.
Did you know?
How long does a car battery actually last ? Find the answer in our guide!
Buying or leasing an electric car: our conclusion
The decision between purchasing , leasing, or a car subscription depends on your individual needs and preferences. Each option offers unique benefits. If you want to test different electric car models before committing, the FINN car subscription is an attractive solution.
It combines flexibility , cost transparency , and a wide range of models . This allows you to experience electric mobility without long-term commitments and find the perfect electric car for you. Carefully weigh your options and choose the one that best suits your lifestyle and financial goals.
FAQs
Which is better: buying or leasing an electric car?
Whether it's better to buy or lease an electric car depends on individual preferences. Buying offers ownership and flexibility, while leasing offers lower initial costs and regular model changes. Choose the option that better suits your lifestyle. Or take advantage of the flexible alternative: a car subscription with FINN.
Are electric cars more expensive to lease?
Yes, EVs are often more expensive to lease. Leasing rates for EVs are often higher than for combustion engines due to higher depreciation and uncertain residual values.
Why should you buy an electric car?
You can buy an electric car for the following reasons:
- Ownership and free use
- No mileage limit
- Possibility of resale
- Long-term cost savings after repayment