Secondhand EV Leasing Surges 170% as UK Drivers Cut Costs 2026

Secondhand EV leasing has surged by 170% in the UK over the last year, as drivers seek cheaper ways to combat soaring petrol prices. This boom in used electric car leasing is reshaping the automotive market, offering a practical path to electric vehicle ownership without the high upfront costs.

Why Secondhand EV Leasing Is Accelerating

The British Vehicle Rental and Leasing Association (BVRLA) reports that its members, who purchase about half of the UK's new vehicles, have seen a dramatic rise in used EV leasing. The supply of secondhand electric cars is growing as early adopters trade in their vehicles, with over 2 million electric cars now on British roads.

Most new vehicles in the UK—around 85%—are bought with finance, favoring monthly payments over lump sums. However, until recently, few firms offered leasing for used EVs, waiting for better data on battery longevity and market stability. Now, that's changing rapidly.

Fuel Prices and the Shift to Electric

Rising petrol prices, partly due to geopolitical tensions, have made electric cars more cost-effective. Higher fuel costs make EVs cheaper to run, and secondhand leasing provides a low-risk entry point. Toby Poston, BVRLA CEO, highlights that used leasing offers consumers access to well-maintained EVs with the latest technology, without the financial risk of ownership.

Salary Sacrifice Boosts Accessibility

One standout trend is the salary sacrifice scheme, which allows employees to deduct EV costs from pre-tax income. This has seen a fivefold increase in secondhand EV leases, making electric driving attainable for households that previously thought it out of reach.

Comparing Used EV Leasing vs. Buying

Key Takeaways for UK Drivers

• Secondhand EV leasing offers a cost-effective way to drive electric.
• Salary sacrifice schemes can significantly reduce monthly costs.
• Rising petrol prices make EVs more attractive than ever.
• BVRLA members provide a wide range of used EV options.
• Leasing avoids the risk of battery depreciation.

Future Outlook for Used EV Market

As more electric cars enter the used market, experts predict continued growth in leasing. The combination of better data, more supply, and supportive policies like salary sacrifice will likely drive further adoption. For drivers, this means more choices and lower barriers to going electric.

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