Are you shopping around for new car deals and thinking about making the switch to an electric car? You’re not the only one: EV registrations have skyrocketed in recent years, which is no surprise when electric car finance deals for some of the best cars around have fallen to around £300 per month. But what are the best electric cars for £300 a month?
Generally, to offset the cost of building them, the price of an electric vehicle is higher than conventional petrol or diesel alternatives. Take the Peugeot 208, for example; you can have it with a petrol or an electric powertrain, but the cheapest zero-emissions electric model costs around £10,000 more outright.
Spending that much extra cash up front is a daunting prospect, which is why many buyers choose to secure a new EV on finance. For one thing, it feels like less of a financial blow when the additional cash is spread out over a monthly leasing deal.
Manufacturers are also slowly figuring out ways to make EVs more affordable and accessible. Falling list prices, advancing technology, increased availability, and better finance deals all mean that buyers seeking the best electric cars or best cheap electric cars now have more choice and flexibility.
To help you get ahead in your search, we’ve rounded up some of the best EVs available in the UK for around £300 per month. You’ll find both personal leasing (also known as Personal Contract Hire or PCH) and Personal Contract Purchase (PCP) deals for some of the best electric cars on the market, helping you quickly find something affordable and suitable. Read on to find more.
Best electric cars for £300 per month 2023
Editor’s lease choice: MG4
A great electric car – and an affordable one, too
Pros:
✅ Enjoyable to drive and comfortable
✅ Long range and reliable range estimates
✅ Better than costlier alternatives
Cons:
❌ Some low-rent finishes and interfaces
❌ Not the most spacious option
MG has long proven it can do sensible and great value electric cars – but its new 4 proves it can also make desirable ones, too.
The sharply styled hatchback is designed to take on the Volkswagen ID.3 but at a cheaper price. There’s little compromise, though; it has a range of 200-281 miles, a bang-up-to-date interior, a range of striking colours and a great on-road manners. It’s a very tempting choice.*
Read our full MG4 review
MG 4 lease deals | VIEW OFFER
MG ZS EV
A practical SUV that’s good value for money
Pros:
✅ Affordable, with good finance options
✅ Impressive range of up to 273 miles
✅ Excellent safety rating and kit levels
Cons:
❌ Drab to look at and to drive
❌ No badge appeal
The MG ZS EV was the company’s first electric car and, impressively, it transpired to be a thoroughly capable electric SUV.
Highlights include the option of a battery pack that grants a 273-mile range, a five-star Euro NCAP rating, a seven-year warranty, lots of equipment and a spacious interior. Okay, it’s admittedly not exciting – but, for pragmatic buyers, there’s a lot here to like.*
Read our full MG ZS EV review
MG ZS EV lease deals | VIEW OFFER
*These deals are indicative examples of some packages available as of 14 November 2023 but are subject to change without prior notice. Everyone’s financial circumstances are different, and the availability of credit is subject to status. Terms, conditions and exclusions apply. Parkers cannot recommend a deal for you specifically.
Editor’s PCP choice: Fiat 500e
Retro-cute looks, city smart, and now with deposit contribution
Pros:
✅ Iconic style
✅ Good range for its size
✅ Fun to drive
Cons:
❌ Not especially practical
❌ Options are pricey
The Fiat 500e is sold alongside the original petrol city car that shares its name – but this is an entirely different proposition. Prices for the Fiat EV are keen in cash and montly payment terms, and buyers can choose from a 24kWh battery (for 115 miles of range) or a larger 42kWh cell (for a quoted 199 miles).
If you live and predominantly drive in a city, the smaller battery may well be enough but we suspect that many buyers may prefer the reassurance of the bigger unit. The Fiat 500 Electric is super-stylish outside and in and is also available as a convertible. In many regards, it’s the perfect electric city car. In fact, it’s so good we named it our 2023 Small Electric Car of the Year**.
- Monthly cost: £289 (47 payments)
- Deposit: £5,998
- Dealer contribution: £3,000
- Total amount payable by customer to buy car: £32,729
- Cash price: £28,195
- Mileage allowance: 6,000 miles per year
- APR: 7.9%
Read our full Fiat 500 Electric review
Renault Zoe
Compact yet capable Zoe is a fab affordable EV
Pros:
✅ Refined and easy to drive
✅ Good performance and range
✅ Roomy and practical for its size
Cons:
❌ Not particularly comfortable
❌ Poor Euro NCAP rating
The Renault Zoe is a great choice if you’re looking for an all-electric runabout. It’s got a range of up to 238 miles and, usefully, it’s available through a 0% APR finance deal. However, the price has been creeping up, and now it looks less good value than the Fiat 500e.
Why else choose a Zoe? Renault’s chic supermini is easy to drive and a doddle to live with. Useful range aside, it’s also practical for it size, comes with a good amount of kit, and it’s capable of rapid charging.**
- Monthly cost: £347 (24 payments)
- Deposit: £10,499
- Total amount payable by customer to buy car: £29,995
- Cash price: £29,995
- Mileage allowance: 6,000 miles per year
- APR: 0%
Read our full Renault Zoe review
MG5 EV
MG’s all-electric estate is a sensible, practical choice
Pros
✅ Pleasant handling and ride quality
✅ Lots of equipment as standard
✅ Up to 250 miles on one charge
Cons:
❌ Not massively spacious in the back
❌ Seats are uncomfortable
The 5 is one of the cheapest electric cars you can lease today, with prices starting from £299 per month. This means it’s cheaper than the likes of the Peugeot e-208 or Nissan Leaf, while also being more useful than either.
MG’s affordable estate also comes with a 61.1kWh battery as standard, which offers an impressive 250-mile range. Sure, the quality is a little hit and miss and the interior feels a drab, but you can’t argue with this for the money.**
- Monthly cost: £299 (48 payments)
- Deposit: £11,472
- Total amount payable by customer to buy car: £37,022
- Cash price: £30,995
- Mileage allowance: 8,000 miles per year
- APR: 9.9%
Read our full MG5 review
Vauxhall Mokka Electric
Striking all-electric Mokka is good to drive
Pros:
✅ Comfortable and enjoyable to drive
✅ Smart exterior and interior design
✅ Excellent in-car tech
Cons:
❌ Not that spacious
❌ Unremarkable performance
If you’re finding a lot of the affordable electric cars too dull for your liking, have a look at Vauxhall’s Mokka Electric. Funky looks aside, it’s also currently available on a 0% APR deal from Vauxhall. It’s a tad over the monthly budget, admittedly, but not by much – and some wrangling might bring it down by enough to make it workable.
There’s a lot else to like about the Mokka; it rides well, it’s enjoyable to drive, and it comes with a lot of equipment. Okay, it’ll struggle to meet its claimed 209-mile range, and practicality isn’t its strong point, but if you don’t need space or a long-distance EV, it could tick the boxes.**
Vauxhall Mokka Electric PCP deal
- Monthly cost: £330 (23 payments)
- Deposit: £11,651
- Total amount payable by customer to buy car: £38,835
- Cash price: £38,835
- Mileage allowance: 6,000 miles per year
- APR: 0%
Read our full Vauxhall Mokka Electric review
** These deals are indicative examples of some packages available as of 14 April 2023, but are subject to change without prior notice. Everyone’s financial circumstances are different and the availability of credit is subject to status. Terms, conditions and exclusions apply. Parkers cannot recommend a deal for you specifically.
Bauer Consumer Media Limited is an appointed representative of ZenAuto Limited for the broking of regulated consumer hire agreements. ZenAuto Limited is authorised and regulated by the Financial Conduct Authority. ZenAuto Limited’s registered office is Number One, Great Exhibition Way, Kirkstall Forge, Leeds LS5 3BF. ZenAuto Limited’s company registration number is 10967345. ZenAuto is the trading name of ZenAuto Limited.
Best electric cars for £300 per month FAQs
What’s the difference between electric car PCP and leasing?
Leasing a car through PCH works a bit like renting. You put down an initial payment, then pay monthly. That’s it. Once the contract is up, you hand the car back to the dealer.
New car PCP deals are more complicated, but they give you the option to buy the car at the end of your contract. Like leasing, you place a deposit and pay in monthly instalments. If you want to keep the car, you can make a final payment – called a balloon payment – to have your name put on the logbook. If not, you can give it back. This is still the most popular form of new car finance, but PCH is closing the gap.
