UK Secondhand Electric Vehicle Leasing Surges 170 Percent

The British Vehicle Rental and Leasing Association (BVRLA) reports that leasing for secondhand electric vehicles (EVs) in the United Kingdom has grown by 170% over the past year. This surge follows rising petrol prices linked to U.S. and Israeli attacks on Iran in February, alongside an increasing supply of vehicles from early adopters.

Consumer demand has shifted heavily toward monthly financing over upfront payments. Secondhand EV leasing through salary sacrifice schemes has increased fivefold, while personal contract hire has risen nearly six times. Industry leaders note that used EV leases offer an average monthly saving of £60 to £70 compared to new leases, with some models saving users up to £200.

Growth is evident across major providers. The Electric Car Scheme saw used leasing more than triple since 2024, while Octopus Electric Vehicles recorded 122% year-on-year growth through June. Executives from these organizations state that increased affordability is bringing electric mobility within reach of households and businesses that previously could not justify the cost of a new vehicle.