“Leasing a car is going to get infinitely more popular in 2024 and onwards, as the UK continues the switch into newer, mostly electric SUV’s, the attractive manufacturer discount and favourable benefit in kind rates are bringing a new wave of drivers leasing their SUV” says James McNeil, Managing Director at Ready2Lease.
“Honey, don’t forget to plug the car in tonight, we have 200 miles to the seaside to cover tomorrow morning” Leasing an electric SUV comes with its own set of pros and cons, but the cons are slowly starting to phase out, starting with range anxiety and capability.
The average range of electric cars is currently sat at 211 miles and the average cost to fully charge away from home is around £15, compared to petrol or diesel which is closer to £35 for the same amount of miles.
The short answer is no, the long answer is also no. Manufacturers recognise that whilst the long-term change to electric is currently non negotiable (for now at least) there is still a market for petrol and diesel engines, and they are reflected in the line ups still available from the UK’s most popular SUV manufacturers. Most of them are now hybrid engines of some description to help keep emissions low and maintain manageable running costs, but the truth is that some drivers simply cannot make the switch to electric, due to charging difficulties, range requirements or initial outlay costs.
Before we go into details about the makes and models of popular SUVs available to lease in the UK, lets take a look at the process to lease an SUV and some of the terminology you might come across in your search.
1) Make a list of your requirements. This should include how much space you need, what is the minimum range you are looking for (if its going to be electric), what features are a deal breaker for you (think heated seats, cameras, etc.) and safety features such as blind spot monitoring or collision avoidance systems.
2) Work out your budget. Many people when they start looking to lease an SUV aren’t quite sure how much they should be spending. A sensible place to start is thinking how much is your current car is costing you including ownership, depreciation, repairs and servicing. Once you have a starting point you can start to look at how much you are comfortable with spending that won’t leave you short, and how to make the most of your budget.
3) Think about booking a few test drives. This point doesn’t always apply, as we’ve moved into the digital age of buying everything online, some people feel confident that they’ll be fine moving into a new car so long as it ticks all the boxes, but if you are the kind of person who likes to see it, touch it, drive it before you buy it then book in a few test drives at your local main dealer and see how they compare.
4) Once you’ve settled on your car you need to choose your contract length, annual mileage requirement and extra’s such as maintenance.
1) Complete your finance application. Leasing a car as a private individual or as a business will always require a credit check to ensure you are eligible and able to make the repayments. Some lenders will also ask for bank statements, pay slips or business accounts in order to accept an application.
2) Sign your order, finance documents and book your delivery.
3) Arrange fully comprehensive insurance for the main driver and subsequent named drivers.
4) Arrange fitment of an electric charging point at home or work, if possible, if you’ve gone electric it’s the cheapest way long term to charge your car.
5) Take delivery of your new car! Be sure to do a thorough check on receipt and report any damage back to the lender. Make sure everything is present and correct, as you may be charged on return if something is missing.
The term SUV is often considered to be born out of the USA, with their desire for huge and capable utility vehicles. SUV is an acronym for “Sports Utility Vehicle” an SUV may or may not be 4-wheel drive, but will be lifted from the road for a higher driving position, it will have 4 doors and a decent sized boot.
Whilst the definition of an SUV has become less specific, the crossover market has boomed in recent years. A crossover is generally a big hatchback, but not quote as imposing or high off the road as an SUV. Crossovers are popular in the UK as they offer the space desired by many but without being too big to fit on some of our dainty little village roads or backstreets.
Here is the great thing about leasing an SUV, there is a bucket load of options available to you to suit virtually any budget in the new car market. With manufacturers competing hard to gain and maintain market share, there are always offers to be had and by leasing instead of buying outright, you are far more likely to get your hands on a decent discount offered by leasing companies.
As with all types of cars, none are generally perfect. Whilst an SUV offers plenty of space, a nice driving position, good safety ratings and plenty of choice from the get go, a bigger car can often be more expensive in the first-place due build costs, they can be less fuel efficient with more weight to carry and can be tricky to squeeze into supermarket or shopping centre car parks. Some drivers feel the car is too big to navigate around small-town centres with heavy traffic, but that really comes down to personal preference and the type of driving typically undertaken.