As the EV market matures, drivers are asking a new question — is it still worth buying electric outright, or does leasing make more sense? Let’s unpack the costs, lifestyle benefits and financial realities behind the switch.
Leasing vs. Owning: What’s Changed in 2025
In the early days of EVs, leasing was the smarter route. Batteries were untested, depreciation was uncertain, and technology was moving fast. Fast-forward to 2025, and the picture has shifted dramatically. Battery warranties, resale confidence and lower running costs have made EV ownership more appealing than ever.
Still, leasing remains attractive for drivers who prefer flexibility or upgrade every few years. According to the BVRLA, more than 70% of new EVs in the UK are still leased rather than purchased outright.
Upfront Costs and Incentives
- Leasing: Lower initial deposit, predictable monthly payments and no worries about resale. However, total long-term costs can be higher if you renew regularly.
- Buying: Larger initial outlay, but long-term savings and ownership flexibility. You also benefit from the car’s residual value when selling or trading in.
- Government support: Company car drivers still enjoy a 2% Benefit-in-Kind rate on EVs until 2026, making salary-sacrifice leasing extremely cost-effective.
In both cases, EVs enjoy cheaper running costs — roughly 5–7p per mile when charged at home, compared with 14–17p for petrol cars (UK Government data).
Depreciation and Resale Value
Depreciation was once the biggest EV fear. But with stronger demand, stable supply chains and longer warranties, modern EVs now hold value more like petrol counterparts. Data from Auto Trader shows some popular models retaining up to 60% of value after three years — outperforming diesel cars.
Battery longevity, brand trust and software support now influence resale far more than mileage. Buyers are also more comfortable purchasing used EVs thanks to certified health reports and eight-year warranties.
Leasing: The Lifestyle Advantage
Leasing remains ideal for anyone who values convenience. Insurance, maintenance, and breakdown cover are often bundled, and you’re always driving the latest model. It’s the electric equivalent of upgrading your smartphone every few years — without the resale hassle.
- Perfect for company car drivers who want zero tax surprises.
- Great for early adopters chasing new tech or improved range.
- Ideal if your mileage changes year-to-year and you want flexibility.
Ownership: The Long-Term Win
Ownership gives you full control — no mileage caps, no end-of-term penalties, and no waiting on renewal deals. Once the finance is cleared, you’re driving near-free motoring, especially when paired with a home charger and off-peak tariff.
For many families, that’s the tipping point. After five years, EV ownership costs can undercut leasing by thousands, particularly when charging at home or using loyalty rewards like ONEEV Rewards.
How ONEEV Adds Value Either Way
- Transparent costs: Track every charge and tariff in the ONEEV App for better budgeting.
- Freedom to roam: Over 65,000 chargers across UK & Ireland — whether you lease or own, your network access stays the same.
- Rewards and insights: Earn perks for everyday charging and learn how to optimise energy use via ONEEV Insights.
Whatever your financial path, ONEEV helps you make EV ownership smarter, not harder.
FAQs
Is leasing an EV cheaper than buying?
Leasing offers lower upfront costs, but long-term owners often save more once the car is paid off and running costs stay low.
What happens to the battery at lease end?
It remains with the leasing company. Most are inspected and reused for second-life energy storage or resold under approved-used programmes.
Does leasing include charging?
Some leasing firms now bundle public-charging credits or ONEEV vouchers, helping drivers offset costs during the first year.
