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Electric Car Leasing Frequently Asked Questions

Do you have a question about leasing an electric car? We've covered off some of the most common questions for you.

Leasing

Electric Cars

Charging

Support

Leasing

Can I amend my contract mileage?

If you're outside the first or last six months of your contract, you can make changes to your contract mileage during the course of your lease agreement.

Either speak to your leasing consultant or drop us an email on sales@gridserve.com with your vehicle registration, the current mileage and the mileage you'd like to change it to.

How does car leasing work?

Leasing is fast becoming one of the most popular methods of driving a new car in the UK. With a lease, you'll have a car for an agreed period of time, though you won't ever own it. This means you can get a new car every few years and won't need to worry about depreciation or selling your old car at the end of the term.

Building your car lease agreement:

  1. We'll ask you for three key pieces of information:
    • How many miles you'll do each year
    • How long you want the lease agreement to last
    • How much deposit you want to put down as your initial rental
  2. We'll work out what the value of the car will be at the end of the agreement, inclusive of depreciation
  3. Using the information from steps 1 & 2, we'll provide you with a personalised quotation. It'll consist of an upfront payment and a series of fixed monthly payments, known as 'rentals', until the lease agreement ends.
  4. When the agreement comes to an end, you'll just return the vehicle and let us know what you'd like to drive next! Easy.

Want to discuss leasing further with our team? Give us a call on 0333 1234 333.

What is the difference between personal and business contract hire?

Business leasing is typicaly referred to as 'Business Contract Hire' or 'BCH' and is a financial agreement between your company and a finance provider. It allows you to lease a car on behalf of a business, usually for 2-4 years for a fixed monthly fee.

You can learn more about business leasing in our How Does Business Car Leasing Work? guide

Personal leasing, is more commonly known as Personal Contract Hire (PCH), and is a bit like renting a vehicle for an amount of time, usually between two and four years, with fixed monthly payments.

How much you'll pay for a personal car lease is determined based on how much a car will depreciate (lose its value) over the course of an agreement and then assigning fixed monthly payments to cover that cost over the term of the lease. 

For more information, read our How does Personal Car Leasing Work? guide

What is vehicle leasing?

Leasing a car means you'll get to essentially 'rent' a brand new vehicle for a agreed amount of time, for a fixed monthly cost.

Lots of people like car and van leasing because it means they pay less upfront, have more affordable monthly payments and they don't have to worry about depreciation.

When does the initial deposit on my lease need to be paid?

The initial deposit will usually be taken by direct debit around 10-14 days after your electric car is delivered to you.

When will the 100 trees be planted when I lease my new car?

Once your new electric car has been delivered and your cooling off period is over, we'll purchase 100 trees on your behalf. You'll receive a digital certificate and we'll keep you posted on the growth of your seedlings.

The time between your EV lease start and the actual tree planting will vary depending on where we are planting and the time of year. Planting usually happens during seasons when the soil provides optimum conditions for tree survival.

You can read more about how the tree planting program works at gridserve.com/trees/

Who is the registered owner of the vehicle?

As you'll be leasing your electric car or van, your funder will be the owner of the vehicle and you will be the registered keeper. This means that although you won't actually own the vehicle at any point, but you will still need to insure it and pay things like parking charges, speeding fines, etc. You'll also need to cover any damages that sit outside of the fair wear and tear policy.

For more information on how leasing works, read our How does Personal Car Leasing Work? guide

Electric Cars

Are there any grants and incentives for getting an electric car?

There are a few grants and incentives available to you if you're thinking of going electric.

The Plug-In Car Grant is available for all electric cars with a list price of  £32k or less. Although the Plug-In Car Grant was reduced in December 2021, you could still be eligible for the £1,500 incentive.  Wheelchair accessible vehicles are eligible for a £2,500 grant and vans could receive up to £5,000 depending on their size too.

If your electric car is a company car, you'll only pay 1% Benefit in Kind (BiK) tax in the 2021/2022 tax year, increasing to 2% the following year.

You also won't pay any road tax and will be able to drive in Ultra Low Emission Zones (ULEZ) for free.

Want to know more? Give our team a call on 0333 1234 333.

How much does it cost to charge an electric car?

The cost of charging an electric car in the UK varies, depending on the type of car and whether you're charging at home, at work or on the road.

Want to save some time? You can use our Charging Time and Cost Calculator for an accurate figure. Still want to know more? Keep reading.

According to the Electric Vehicle Database, the average usable battery size is 61.7kWh, so we'll use that figure for the example. 

Charging at home:

For the average electric car, it'll cost you around £10.49 for a full charge at home.

To work this out, you'll need the usable battery size, as well as your home electricity rate. Prices vary around the country, so we've used 17p/kWh for this example.

Multiply the usable battery size (61.7kWh) by the pence per kWh rate (£0.17) to get your cost to charge:

£61.7 X 0.17 = £10.49.


Charging at rapid chargers:


For the average electric car, it'll cost you around £30 for a full charge on the GRIDSERVE Electric Highway.

Prices vary depending on the provider you use, with most charging between 39-59p/kWh.

The GRIDSERVE Electric Highway is separated into two types of charging locations, Electric Hubs and Electric Forecourts®.

At GRIDSERVE Electric Forecourts®, the charging cost is from 39p/kWh.

At Electric Hub locations, the charging cost is dependent on the rate of charge;

  • Standalone AC Chargers - 39p/kWh
  • Medium Power Chargers - 48p/kWh
  • High Power Chargers - 50p/kWh

Charging

Where can I charge my electric car?

The majority of electric car charging usually takes place overnight at home either by having an electric car charge-point fitted or by using a 3-pin plug socket.

For lots of people, off road charging at home isn't always possible, and so public chargerpoints are needed.

From places like motorway service stations, petrol stations, supermarkets and car parks to locations like our very own Electric Forecourt® in Braintree, which allows up to 36 electric cars to be charged at any one time, UK charging infrastructure is improving every day. The easiest way to find all of the charge points in your area is to use Zap Map.

The GRIDSERVE Electric Forecourt® marked the first of what will be 100 locations across the UK, with Norwich and Gatwick on the way for 2022.

In 2021, we also launched the GRIDSERVE Electric Highway in a bid to revolutionise electric car charging across the UK and eliminate charging anxiety. We even won 'Charging Destination of the Year 2021' and 'Chargepoint Operator of the Year 2021'.

You might find these links might be useful:

Support

What is the GRIDSERVE Leasing privacy policy?

You can read about GRIDSERVE Leasing's Privacy Policy online - simply go to our Privacy Policy page

Where can I get a copy of my terms and conditions?

You can access your GRIDSERVE Leasing Terms and Conditions online - simply go to our Terms and Conditions page

Need Some Help?

New to electric vehicles and leasing? Let us guide you step by step. Just follow our guided question, and we will get you to what you are looking for.

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