What should an EV lease cost?
Pick a car and your terms to see a fair monthly price before you shop, then check any quote against it.
Example: pick your car
Inc VAT, as advertised.
Term
Miles a year
Upfront
More: 60 months, admin fee
Longer term
Broker or documentation fee, if any.
A normal price for the Skoda Enyaq is £400-£495 a month
On 6+35, 10k miles a year. Under £400 means the maker is helping pay for it.
- Well below cost
- Around cost
- Standard price
- Expensive
| Band | Monthly price |
|---|---|
| Well below cost | Under £323 |
| Around cost | £323 to £400 |
| Standard price | £400 to £495 |
| Expensive | £495 or more |
What “cost” means here
A lease price is mostly the value the car loses while you have it. Over 36 months the Skoda Enyaq should lose about £15,604. The leasing company adds interest and its margin on top, which is the standard price. When a lease costs around or below that £15,604, the maker is paying part of it to sell more cars. That's common on EVs right now, and it's why the same car can be far cheaper on one badge or term than another.
Typical EV estimate, about 60% of list left after 36 months.
Same car, different badge
Built on the same platform as the Skoda Enyaq. Makers help with leases brand by brand, so price these too.
- VW ID.5normal £379-£469
- VW ID.Buzz Cargonormal £453-£561
- VW ID.3 Neonormal £339-£420
- VW ID.7normal £523-£647
What else could £400 a month lease?
72 EVs where £400 on 6+35 is around cost or a standard price (£400 is a normal price for the Skoda Enyaq). Ranges are estimated from list price and depreciation, not live deals.
Price it for real
Ask for the same car on a shorter term too. Makers set their help per term, so a 36-month deal is often sharper than the 48.
Find lease deals on the Skoda EnyaqResidual values are estimates, and this is information rather than financial advice.
A lease price is mostly depreciation
The leasing company buys the car, expects to sell it at the end of your contract, and charges you the difference across your payments, with interest and its margin on top. So the fairest way to judge a lease is against the value the car is expected to lose over the term. That is what this tool calls cost.
A lease priced at about cost, or below it, means someone else is paying part of the depreciation. That is almost always the manufacturer, helping with the models, trims and terms it wants to sell. It is common on electric cars at the moment. A lease well above cost is a full-price lease on a car nobody is discounting.
How to read a quote
Quotes are written as two numbers, such as 6+35: six monthly payments up front, then 35 more, over a 36-month contract. A bigger upfront payment lowers the monthly without lowering the total, so compare deals on the effective monthly cost: everything you pay, including any admin fee, divided by the months in the contract. Mileage matters too. A higher allowance costs more, so this tool restates every quote at 10,000 miles a year before comparing it, at about 8p a mile.
Why the badge and the term matter
Makers set their lease help brand by brand and term by term. Cars that share a platform, such as the Volkswagen ID.4, Skoda Enyaq and Cupra Tavascan, are close to the same car underneath but can be quoted hundreds of pounds a month apart. A 36-month lease is often sharper than the 48 on the same car, even with a higher monthly.
The rules of thumb
The leasing trade quotes a 1.5% rule: a monthly at or under 1.5% of list price is decent. Forums use a stricter test: the total cost over a 24-month, 10,000-mile contract as a share of list price, where under 20% is exceptional and over 30% poor. Both ignore how well the car holds its value, which is why this tool leads with depreciation and shows the rules of thumb only as a check.
Questions
What should an electric car lease cost?
Mostly the value the car loses while you have it. Work out what the car should be worth at the end of the lease, take that from the list price, and spread the difference across your payments. The leasing company adds interest and its margin on top. A normal price is roughly 1.05 to 1.3 times that loss; anything at or below the loss means the maker is helping pay for it.
Why are some EV leases cheaper than the car's depreciation?
Because the maker is paying part of it. Manufacturers help with leases on the models, trims and terms they most want to sell, so the monthly price can sit below what the car loses in value. That help is set brand by brand and term by term, which is why the same car can be much cheaper under another badge or on a shorter term.
What does 6+35 mean on a lease quote?
Six monthly payments up front, then 35 more: a 36-month contract with 41 payments in all. A bigger upfront payment lowers the monthly figure without making the lease any cheaper overall, so compare the total cost or the effective monthly figure.
Is the 1.5% rule a good guide for EV leases?
It is a quick check. A monthly price at or under 1.5% of the list price is usually reasonable, but the rule ignores how well the car holds its value. A car that keeps its value can lease above 1.5% and still be fairly priced, and one that depreciates hard can clear 1.5% and still be expensive.
How do you work out how much a car will lose in value?
From used prices where we have enough of them: what UK dealers ask for the same model a few years old. Where we do not, we use one of three curves (holds value well, typical EV, depreciates hard) and the tool says which it used. You can change it if you know the car better.
Residual values are estimates, and this tool is information rather than financial advice. It tells you where a price sits against what the car loses in value, not whether to sign.
Leasing or buying?
If you are weighing a lease against buying, the savings calculator puts purchase price, road tax, fuel and maintenance side by side.