To show how affordable they can be, we’ve rounded up the best electric car deals on offer in the UK today.
Many electric car deals are PCP car finance deals. These are a long-term financial agreement that comprise an up-front deposit and monthly payments over a set period of, say, three or four years. They often benefit from 0% APR.
At the end of the finance deal, buyers can hand the car back with nothing more to pay, or buy the car outright by paying off a lump sum – or, most often, use the collateral in the car to put towards another new car deal.
Electric car deals are also available on outright hire purchase (HP) packages, while other deals simply offer considerable up-front savings for those who may want to pay cash.
Whatever the package, an electric car deal is a tempting way to save lots of money on the latest eco-friendly motors.
Electric car finance deals are designed to help make the higher up-front cost of EVs more manageable.
Spreading the payments over several years takes away the ‘sticker shock’. Add in the considerable savings you get from running an EV – charging from home is far cheaper than filling up with petrol and diesel – and electric car deals help turn EVs into real money-savers.
Today, many manufacturers are focusing their efforts on making electric car finance deals even more appealing, with 0% offers, deposit contributions and other deals.
This is because of the new ZEV Mandate, which means all car brands have to sell a certain number of electric cars each year.
Electric car finance deals make EVs more accessible, meaning they will be more likely to hit their electric car target and avoid steep financial penalties.
Best of all, an appealing electric car deal means you can get into a future-proof car for far less than you may expect. Check out the electric car deals here to see how much you can save!
We’ve said that the MG4 is the best budget electric car, and when it’s available with 0% APR it’s even more attractive. You can drive around in the SE 125kW 51kWh model for just £99 per month, and if you want the more powerful, longer-range models then they’re just £30 or £60 pounds more each month.
The GWM Ora 03 (or you probably know it by its original name, the Funky Cat) is an electric car packed with personality and charm, and represents excellent value for money. And that’s even more the case with 0% APR, with the deposit made a bit more manageable thanks to a £4000 contribution.
The Jeep Avenger is an exciting new model from the American 4x4 brand, which brings its rugged appeal to the small SUV sector. It's available in EV and hybrid guise, but the most affordable is the 1.2-litre turbo petrol version – made even more appealing with a £249 a month PCP deal that includes a £1250 deposit contribution.
The BYD Dolphin is an able and affordable new electric car, that is even more accessible thanks to a striking low deposit deal. The 0.5% representative APR is very low, and a further discount of £1463.89 helps make this a very competitive overall package.
This Fiat 500 Electric deal proves that not all EVs are expensive. It's currently available on a 0% APR PCP finance deal. The choice Icon model, fitted with a beefy 42kWh battery, is available for £299 a month. The deposit is just £999, and Fiat adds in a £3000 'e-Grant' price cut.
Honda's very first electric SUV is still pretty new to the market, but you can drive away an Elegance model for less than £300 a month. And after cutting prices by £5k Honda is now chucking in a whopping £3000 deposit contribution, with a five-year service plan, warranty and roadside assistance thrown in as well.
The Volvo EX30 is a really exciting new small electric car from the stylish and safe Swedish brand. It's super-affordable even without any deals – making this £295 a month PCP car deal, which includes a £750 saving, a tempting one. The 2.9% representative APR is very competitive, too.
The Tesla Model 3 is a must-have electric car that has been freshly facelifted for 2024. It is more refined, better built and, overall, much nicer to drive. For those who can afford an £11,600 deposit, the entry-level model is now on offer for a tempting £342 a month on a four-years PCP deal.
The new Ford Explorer electric SUV is now open for ordering. The first cars will arrive in September and the company is aiming to launch with a bang thanks to an appealing PCP deal with 0% APR. It means those who can find the £9881 deposit, and £380 a month, won't pay a penny in interest over four years.
The Ford Mustang Mach-e is an all-electric interpretation of the classic Mustang sports car. This time, it’s a roomy crossover SUV, and an affordable one at that, with monthly payments from just £395 for the great-value Select version. The low-rate 3.9% APR is appealing too.
The Polestar 2 is a dynamic crossover EV rival to the Tesla Model 3, and a facelift in 2023 made it even more competitive. You can now get a Dual Motor version with the Long Range battery for £444 a month, thanks to a £5k saving and free £4k Plus pack. It's a 0% finance PCP car deal, too.
The Fiat 600e is a new all-electric car from the famed Italian brand. Unlike the smaller Fiat 500e, the Fiat 600e is focused on families, with five-door practicality and a decent boot. It's available for £399 a month with a low £1999 deposit, thanks to a £3000 Fiat e-Grant saving and additional £750 deposit contribution.
Audi's impressive premium electric SUV is one we really like at heycar, even before there's a cracking deal on it. An Audi Q4 e-tron Sport 82kWh with metallic paint can be yours for just £449 a month, with a huge deposit contribution of £5750 thrown in.
Toyota’s fully electric SUV is loaded with standard tech and very comfortable to drive, with a battery range of up to 270 miles. Thanks to Toyota’s latest deal, offering 0% APR and a £2000 deposit contribution, you could drive a Vision model with optional pearlescent paint included for just £459 a month.
One of the most exciting electric cars to be launched last year, the Hyundai Ioniq 6 blends sleek looks with some impressive technology. This Premium spec car comes with an excellent array of standard features and a range of 338 miles.
The Jaguar I-Pace was a trailblazing electric car and is still a brilliant EV today. Fun to drive, there's lots of standard equipment, while this EV400 model has an official range of 292 miles and will hit 62mph in as little as 4.8 seconds.
Electric car finance works just like other types of car finance. The most common type of electric car finance is PCP, or Personal Contract Purchase. Electric car HP, or hire purchase, is also popular.
Electric car finance helps make EVs more affordable by spreading the payments over several years. This offsets the fact electric cars sometimes have higher prices than petrol and diesel cars.
To help encourage new car buyers to make the switch, car manufacturers are increasingly offering competitive deals on EVs. This will help them meet their targets for selling a certain number of new electric cars, as part of the ZEV Mandate.
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