Used EV leasing opens a lower-cost route to electrification

Rapid growth in used electric vehicle leasing is giving fleets another way to introduce EVs without relying entirely on new-car pricing.

BVRLA data reported by The Guardian shows strong growth in second-hand EV leasing, with business contract hire among the channels expanding as more ex-fleet electric cars enter the used market.

For businesses, the attraction is straightforward: a lower vehicle value can translate into a more affordable route into an EV while avoiding some of the depreciation risk associated with ownership.

Fleet managers should still assess each vehicle individually.

Battery condition, remaining manufacturer warranty, service history, mileage, and charging capability all matter. Lease terms should also be compared with equivalent new EVs, particularly where manufacturers are offering strong fleet discounts.

Used leasing could be particularly useful for lower-mileage company cars, pool vehicles or businesses wanting to test EV adoption before committing to a wider replacement programme.

The immediate opportunity is to add used EVs to procurement comparisons rather than treating fleet leasing as a new-vehicle-only market.

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