i-MiEV pricing plans announced

  • Three payment options available for i-MiEV
  • £29k total payment for two options at 11.3% and 11.7%
  • Third option: £399 a month four years, then hand car back  

Mistubishi has launched finance options for its i-MiEV electric vehicle.

Centred on a monthly payment of £399, there are three possible finance solutions available to prospective drivers. Each includes the £5,000 government discount (plugged-in car grant) which begins today.

The first option available is a 48-month non-maintained contract hire service. It's as simple as paying your £399 each month for four years and then you hand the car back.

The second choice is what's known as a ‘balloon' personal loan. In this situation you pay a deposit of £4,635 at the start of the agreement, then £399 each month for 47 months and a final payment of £6,459. The APR on this agreement is 11.7%, meaning in total you pay £29,847.

Finally, you can get a personal loan to pay for the car direct from Mitsubishi. This takes the form of a £5,596 deposit and then 60 monthly payments of £399. APR is at 11.3%, so you'll end up paying £29,536 overall.

Remember, it only costs £1.05 to charge the i-MiEV on the Economy 7 energy tariff and road tax is also free thanks to low CO2 emissions.

Company car drivers will be pleased to note that the small electric car is eligible for a 100% discount on company car tax since emissions are below 75g/km CO2.

Also thanks to low emissions the i-MiEV will be congestion charge exempt in London and will qualify for free parking in several London boroughs as well as others cities such as Milton Keynes.

Details of Mitsubishi electric vehicle sales centres will be announced on January 10.