What Is The Cheapest Electric Car in 2023 | Fleet Evolution

Embarking on the journey to buy an electric car can seem daunting, with so many factors to consider, primarily revolving around cost. If you aim to buy one outright, you’re likely seeking some of the best cheap electric cars. Look no further than the affordable options manufacturers like Mini Cooper and Volkswagen provide. These brand-new electric cars hover around the £20,000 price point, which might still feel steep. However, it’s crucial to remember that electric cars are a long-term investment with the potential for significant savings.

Electric power is a financially savvy choice over petrol or diesel, a fact well recognised by manufacturers now offering electric versions of their vehicles. The Nissan Leaf, the Mini Electric, and Hyundai Kona Electric offer affordable prices and many attractive benefits. But the million-pound question still stands – what’s the cheapest electric car available right now?

Finding an affordable second-hand electric car relies mostly on luck and market availability. One of the most cost-effective strategies to own an affordable electric car is to explore the many deals on offer. Salary sacrifice schemes can help you acquire a brand-new electric vehicle at an affordable price while providing tax benefits. We recommend identifying a car you fancy and then investigating available financing, leasing, and buying options. You’ll often find a monthly scheme the most financially sensible choice.

Should any of the vehicles mentioned spark your interest, delve deeper into our comprehensive guide to the Electric Revolution. With detailed quotations and a range of EV options, you’ll be well on your way to making an informed decision on your next eco-friendly vehicle.

Cheapest Electric Car 2023!

Here is a quick rundown of some models that we recommend looking at if you are interested in affordable electric cars on sale now:

The Mini Electric

Depending on which version you get and your options, you are looking at about £21,000 to £25,000 for the Mini Electric. It has an impressive range of about 140 miles on one charge and is great for city driving, thanks to its compact dimensions. The Mini Cooper has been a staple of British culture for many years, as it is reliable, affordable, and practical. The Mini Electric is also available on Salary Sacrifice from £433 a month, so get quoting on our quote engine here and save yourself a pretty penny!

MG 4

This small compact model is a great car for city drivers. The MG 4 is one of the cheapest EVs, and whilst it is not the largest battery life available, it is more than good enough for a city car. Prices start from £306 a month here at Fleet Evolution.

Nissan Leaf

The Nissan Leaf price is slightly higher than the other cars on the list. With a starting price of around £359 a month, depending on your options and dealership. However, it is a good size vehicle that is perfect for all the family, and it has a maximum range of over 200 miles which is great for all kinds of drivers. With plenty of boot space, an electric motor and renowned for its quality, this is the perfect electric car!

MG 5

The MG 5 is also slightly more expensive, coming in anywhere from £392 a month, but it is one of the larger cars on the list with a range of about 200 miles, which is another good distance. You can avoid having range anxiety about how far your car can go when you have a vehicle like this, as 200 miles will get you to most places you would need to go in a day.

The MG 5 is also available through Fleet Evolution for around £300 a month with our salary sacrifice scheme!

Peugeot E 208

The Peugeot E 208 is another great choice that is perfect for the city and other styles of driving. This is a great option at around £425 a month with a range of 200 miles. This long-range makes it a perfect car for families.

Many more cars are available at different prices, and many manufacturers are now investing in creating cheaper and more affordable electric cars. On the higher end of the scale, Tesla has now made the Model 3 their more affordable version of the Tesla line.

Best Tips For Buying the Cheapest Electric Cars

As we have stated, buying a brand-new electric car can be costly. Cheap electric cars are a relative idea. While one could be cheaper, it depends on your budget. The best tip we can give is to be aware of the various deals and finance plans that often become available.

Since many companies and governments want people to transition to electric cars, the cheapest electric cars on sale are often found through various schemes. For example, Fleet Evolution offers a salary sacrifice scheme that lets you save money on your income tax for a fixed monthly price. With this, you get a brand-new electric car without any significant upfront payments.

What Is An Electric Car Salary Sacrifice Scheme?

An electric car salary sacrifice scheme is a type of employee benefit that allows employees to contribute part of their pre-tax income towards purchasing an electric car. Employers offer the scheme to encourage employees to switch to electric cars. Employees participating in the scheme can save money on their taxes and may also be eligible for a government subsidy.

Can I Use A Salary Sacrifice Scheme To Get Affordable Electric Cars?

Yes! Here at Fleet Evolution, we encourage it. Save the planet and get low running costs. What more could you want? On top of all that, save money on your tax payments and get a brand-new car with no upfront payments.

How Do I Benefit From Salary Sacrifice?

Many employers offer salary sacrifice schemes as a way to encourage employees to adopt specific types of benefits. Employees who participate in a salary sacrifice scheme can save money on their taxes, as their contributions are deducted from their pre-tax income. In addition, some employers may offer a subsidy to employees who purchase an electric car through a salary sacrifice scheme. This subsidy can help to reduce costs further and give you access to some of the cheapest electric vehicles. So, now you know, “What is the cheapest electric car?” If you’re after cheap electric car prices, then salary sacrifice is one of the best ways to afford one.

If you want more information on this subject, we’ve compiled a helpful blog with more information on what is an electric car? Within this blog, we’ll explain the four different types of electric vehicles, how reliable they are and more.

Is it still Cheaper to run an Electric Car?

Absolutely! Operating an electric car is typically cheaper than running a conventional gasoline-powered car for a few key reasons:

• Energy Efficiency: Electric vehicles convert a much higher percentage of the electrical energy from the grid to power at the wheels. This results in a lower cost per mile than buying petrol or diesel, and the costs can be further reduced if you can access off-peak electricity through home charging points.
• Maintenance Costs: Electric cars often have lower maintenance costs with fewer moving parts than conventional petrol or diesel vehicle. The primary wear-and-tear part is the battery, but technological advances have significantly extended their lifespan in the last few years.
• Tax Incentives: Many governments offer tax benefits and other incentives to promote the use of electric vehicles, as this can help offset the initial purchase price and significantly lower the overall ownership cost.

How Long Do Electric Cars Last?

Electric cars are designed to last a long time, and early evidence suggests they might well outlast their petrol and diesel counterparts. Battery life is often the primary concern. Most manufacturers guarantee their batteries for 8 to 10 years, but they can often last 15 years or more with proper care. Remember that while the battery’s capacity might decrease over time, the car can still be driven.

Will Electric Cars Get Cheaper?

As technology advances and sales improve, electric car production costs will decrease. The most expensive part of an electric car is its battery, and the prices of these have been falling dramatically.

According to a 2020 report from BloombergNEF, lithium-ion battery pack prices have fallen 89% in the last decade, from $1,183 per kWh in 2010 to $137 per kWh in 2020. As these trends continue, electric cars should indeed become cheaper. This, combined with electric vehicles’ increasing efficiency and longevity, makes a compelling case for their growing affordability!

We hope this blog has given you more insight into some of the cheapest electric cars in 2023! If you’re interested in a salary sacrifice scheme or simply require more information, please don’t hesitate to get in touch.

Electric Car Price FAQs:

We’ve answered some of the most frequently asked questions about the cost of electric cars below:

Are electric cars actually cheaper than petrol?

While the initial purchase price of electric cars may be higher than their petrol counterparts, the total cost can often be lower when you factor in fuel and maintenance costs. Charging an electric car costs significantly less per mile than fueling a petrol car, and electric cars have fewer moving parts, which often results in lower maintenance costs!

How to afford electric car UK?

Affording an electric car in the UK can be made easier by considering several options:

• Government Grants: The UK government offers grants for new electric vehicles – up to £2,500 off the purchase price.
• Salary Sacrifice Schemes: Employers in the UK offer salary sacrifice schemes where the cost of the electric car lease is deducted from your gross salary, reducing your income tax and National Insurance contributions. This can significantly decrease the cost of driving a new electric car.
• Finance or Leasing: Most dealerships offer finance options, allowing you to spread the cost of an electric car over a series of monthly payments.

How much is road tax for electric cars UK?

As electric cars don’t produce emissions, they’re exempt from road tax!