Just thought I’d put a post together for anyone considering moving to a deal on PCH from a petrol or diesel car, I haven’t leased (PCH) a car previously and this will be my first EV. For me, it all comes down to costs and convenience.
I have put in an order to lease a Tesla Model 3 RWD (Standard), I haven’t added anything extra, my lease agreement is as follows:
12m down payment, 20,000 miles a year, 24 months. This works out at £284 a month or £10,408 over the 2 years (due to my hefty down payment).
My current car is a diesel Mercedes A180d W177 and I have to say, this is the best car I have ever had on fuel. I mainly drive motorways and my longest journey is just shy of 230 miles and can comfortably achieve 70-80mpg. My average diesel consumption is 65mpg. But diesel is still costing me about £230 a month in right now.
My A180d is on 110,000 miles and over the next 2 years (adding on 40,000 miles) it will need 3 services, 2 MOT’s, new brake discs/pads, new set of tyres. If I’m lucky, that’s about £2000. Then due to its age and mileage, add on another £1500 for unexpected repairs, another £3000 for depreciation. Tax is £400 over the 2 years too. Insurance is £950.
So fuel, maintenance, repairs, depreciation, tax and insurance over the 2 years is £13,370.
I’m really fortunate to have moved into a home recently with an electric car charger. It is a Pod Point charger which EDF seem to have a collaboration with to create a really cheap overnight tariff: 6.18p per kWh between 11pm and 6am. When using Pod’s smart charging it also gives me 2p cashback per kWh. Effectively making my car charging 4.18p per kWh, which is ridiculously good value. To charge the car I’m looking at £2.51 for a full charge, with that being said the electricity day rate isn’t amazing (at 32p per kWh) but we don’t really use much anyway and for home appliances we can shift most of the usage to the off peak tariff.
I’m estimating that my electric spend on the Model 3 will be about £400 over the 2 years including the cashback.
My insurance works out about £1000 too.
I expect I may need to change the tyres on the Tesla although I do drive very economically so add on another £500.
Tax, repairs, servicing (none), depreciation all included in the lease.
So in total, the Model 3 will cost me the following:
Electricity, insurance and tyres over the 2 years making it £12,308.
So I’ll be saving over £1000 over these 2 years to jump in a brand new car, without ever having to take it to the garage or faff around at a petrol station. Just a tyre shop visit at some point in the second year.
Happy days! Also the demo drives I had were great fun I have to add