If you want an electric car, but don’t want to spend too much, then here’s our top picks of the best electric cars for under £300 a month.
It’s also worth saying that electric cars are much cheaper to run than conventional petrol or diesel cars, so with a low monthly cost, as well as extremely low running costs, then you’ll be saving yourself a small bucket of money, as well as driving a more technologically advanced and greener car, that’s also very fun to drive too!
Please note all offers were correct at the time of writing, but are subject to change.
Mini Electric
Electric car driving is proving to be very popular. Retaining all the fun of the standard car – both in terms of the way it looks and how it drives – it’s an ideal option for those that don’t travel too far, thanks to its 145-mile range.
With a relatively small £3,000 deposit, you can get behind the wheel of a Mini Electric for £300 a month. Though it does restrict you to the lowest-spec ‘Level 1’ version, it still comes with features such as dual-zone climate control, digital dials, and a large 8.8-inch touchscreen, all included for the price.
Model: Mini Electric Level 1
Monthly payments: 47 x £299
Customer deposit: £3,000
Deposit contribution: N/A
Total at end of contract: £17,053
Optional final payment: £11,618.93
Total paid to own the car: £28,671.93
Cash price: £26,000
APR: 3.9 per cent
Annual mileage allowance: 10,000
Peugeot e-208
Peugeot is quickly ramping up its range of electrified models, with nearly all its cars now available with a hybrid or electric option. One such example is the stylish 208 supermini, which you can also choose as an EV, the e-208. With a large 50kWh battery, the French brand claims it can travel for 217 miles on a single charge, while 100kW rapid charging capability means you can charge the battery to 80% in just 30 minutes.
But despite the e-208 having quite a steep upfront price, it’s actually rather good value when it comes to financing, with Peugeot currently offering a well-specced Allure Premium version for £276 per month, along with a useful £900 deposit contribution. If you want a small, premium EV that won’t cost too much, this supermini is well worth your consideration.
Model: Peugeot e-208 Allure Premium Electric 50kWh 136
Monthly payments: 47 x £276.26
Customer deposit: £6,144.07
Deposit contribution: £900
Total at end of contract: £19,128.29
Optional final payment: £12,792
Total paid to own the car: £31,920.29
Cash price: £28,525 (including plug-in car grant)
APR: 4.9 per cent
Annual mileage allowance: 6,000
MG5
If you’re looking for an EV on a budget, a car brand worth looking at is MG, which offers its electric ZS EV crossover and MG5 estate car at splendidly affordable prices. While both are great choices, the greater affordability of the MG5 makes it our choice, while it’s also fantastically good to drive, and gets plenty of impressive equipment as standard. It can also travel for a claimed 214 miles on a single charge, though a longer-ranged version capable of 250 miles is due to be released soon.
With a relatively modest £3,500 deposit contribution, it brings the monthly payments down to below £300 per month, while MG also offers buyers a £750 discount purely for taking a test drive, along with a very attractive 0% APR.
Model: MG5 EV Exclusive 53kWh 5dr Auto
Monthly payments: 48 x £267.73
Customer deposit: £3,500
Deposit contribution: £750
Total at end of contract: £16,083.31
Optional final payment: £10,494
Total paid to own the car: £26,577.31
Cash price: £27,595 (including plug-in car grant)
APR: 0 per cent
Annual mileage allowance: 8,000
Volkswagen ID.3
Volkswagen introduced the ID.3 as its first bespoke electric car last year, and it’s proving to be a very popular option in the EV market. It’s likely to continue to do so, as VW expands the range with more and more affordable options.
The latest addition is a 45kWh battery model, and though it can’t travel as far on a single charge as others in the range, its claimed 217-mile range is still very respectable indeed. While you still get the same stylish looks and roomy interior as the other ID.3s. The key appeal, though, is this newfound affordability, as the ID.3 is available from just £249 a month, when combined with a £4,723.04 deposit. Volkswagen is also currently offering a generous £1,750 deposit contribution towards it.
Model: Volkswagen ID.3 Life 45kWh Pure Performance 150PS
Monthly payments: 47 x £249
Customer deposit: £4,723.04
Deposit contribution: £1,750
Total at end of contract: £16,426.04
Optional final payment: £11,992.50
Total paid to own the car: £28,428.54 (includes £10 option to purchase fee)
Cash price: £27,120 (including plug-in car grant)
APR: 4.8 per cent
Annual mileage allowance: 10,000
Fiat 500 Electric
Without doubt one of the most affordable ways to get behind the wheel of a new EV is with Fiat’s new electric 500, which gets a modern makeover and is far nicer to drive than the standard petrol model. It’s available with a choice of 24kWh and 40kWh batteries, which deliver a range of 115 and 199 miles respectively.
But if you don’t need a long-range choice, and you want affordability, then you can actually get a Fiat 500 electric for under £200 a month, with a £3,650 deposit, helped by an additional £950 contribution from Fiat. It means that this 500 represents impressive value for money, while the standard equipment still includes rapid charging capability, rear parking sensors, and a rather pleasant digital instrument cluster.
Model: Fiat 500 Action
Monthly payments: 35 x £199.27
Customer deposit: £3,650
Deposit contribution: £950
Total at end of contract: £10,624.45
Optional final payment: £11,358
Total paid to own the car: £21,982.45
Cash price: £20,995 (including plug-in car grant)
APR: 4.7 per cent
Annual mileage allowance: 10,000
Find the car that’s right for you
These are just some of our picks of affordable electric cars. However, you’re spoilt for choice. There’s a multitude of affordable electric cars available in the UK market now. You can use our ‘Find the best EV for you’ search tool, to select the size(s) of the car that you’re interested, and any other key preferences, and it will then create a bespoke list of options just for you. So you can look at every model, see our target prices, book a test drive, and get the latest quotes and offers from the relevant dealerships in your area.
