£300 a month: Second hand vehicle salary sacrifice scheme makes EVs cheaper

Octopus has introduced a new scheme to make EVs more affordable for the mass market

Octopus‘ electric vehicle (EV) arm has introduced a new second-hand leasing option for EVs.

Their ‘Nearly New’ salary sacrifice programme offer makes popular EV models like Renault Zoe, Peugeot e-208, and Vauxhall Mokka-e accessible for around £300 per month, covering fuel, insurance, and maintenance costs.

Octopus’ salary sacrifice allows drivers to save 30-40% monthly by paying through their gross salary, providing an all-in-one service including the EV, charger, and discounted energy tariff.

The second-hand scheme offers a wide range of EVs, making even popular models, including the Tesla Model 3 available at half the price of a personal lease and over 55% cheaper than leasing a BMW 3 Series.

New research by car-sharing marketplace Turo, reveals that 43% of Brits won’t consider switching to an EV for their next vehicle purchase.

The study identified the top three barriers to EV adoption as concerns about initial purchasing costs (87%), battery life (88%) and the lack of public charging infrastructure (87%).

Fiona Howarth, Chief Executive Officer of Octopus Electric Vehicles, stated that used cars make up more than four out of five car sales in the UK.

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