Renault has stopped selling the Zoe with a battery hire option in order to simplify the buying process for customers.
The ditching of the battery lease option is also down to significantly improved residual values, which enables Renault to offer more competitive finance deals. Residual values of electric cars have been increasing in the UK, as consumers slowly turn on to electric cars.
The Zoe is available with 0% APR on a PCP deal. These deals are based on relatively short contracts, at 24 months, and start from £269 per month with a £2,995 deposit.
The battery lease option was originally introduced to lower the outright purchase price of the Zoe, so it was a similar kind of money to Renault’s petrol and diesel cars. Effectively, owners bought the car without the battery, and leased the battery for a monthly cost.
Renault’s residual value of 42% for the Zoe means that they will be worth more after the PCP deal is up. This makes it cheaper on monthly payments, as with a PCP deal, you effectively just pay the depreciation. The higher the residual values, the lower the depreciation.
The ‘full purchase’ option makes the Zoe fall in line with the rest of the Renault electric range in the UK. Renault’s Kangoo Van Z.E. has been available as a full purchase model since October 2018, while the larger Master Z.E is only available as full purchase. Renault’s Twizy will follow suit soon.
There is also a Hire Purchase option available. It works out at around £250 per month over 48 months, with a 20% deposit and an APR rate of circa 2.9%.
Renault Zoe Play representative PCP deal
Monthly payment: £269
Deposit: £2,995
Deposit contribution: £562
Cash price (inclusive of £3,500 government plug-in car grant) £25,670
Optional final payment: £15,657
APR: 0%
Duration: 25 months (24 monthly payments)
About the Renault Zoe
The Zoe is a small five-door electric car with an electric range of 245 miles and a 52kWh battery. Its electric motor can deliver 90 miles of range in 30 minutes when charged from a rapid charger, while the 0-62mph sprint is dispatched in less than 10 seconds, making it feel pretty nippy around town.
>> Read the full Renault Zoe review
>> The best electric cars to lease
>> The best new car finance deals
