Renault has ditched the option of monthly battery leasing for its electric Renault Zoe, citing “significantly improved class-leading residual values, which enable a more competitive full purchase price”.
The Zoe has a predicted residual value of 42%, according to CAP, after three years and 36,000 miles. The supermini is priced from £25,670 (after the Government's £3500 plug-in car grant), £2325 less than the larger Nissan Leaf. On a PCP finance deal, the entry-level Zoe costs £269 per month with a deposit of £2995.
Until now, Renault has been the only mainstream brand to offer customers the opportunity to either buy an electric car outright or pay a lesser upfront amount plus a monthly battery leasing fee. Since 2014, when both purchase options became available, battery leasing has accounted for 60% of overall Zoe sales.
Renault said: “One of the main reasons that the battery lease option was initially introduced was to lower the initial purchase price of a Renault EV to be as close as possible to that of an equivalent diesel vehicle. The recent improvements to the RV [residual value] on the new Zoe in the UK mean that this financial gap has now been reduced and we are able to offer a simplified choice to consumers.”
Renault revealed its second-generation Zoe in September with a larger (53kWh) battery and up to 245 miles of range. It also received a restyling inside and out, plus a 10in digital instrument display and a 9.3in infotainment touchscreen.