The secondhand market for electric vehicles (EVs) in the UK is currently experiencing a leasing rush. In Q2 2025, leasing doubled from that time last year, up an astounding 166%. This overall increase is the result of consumers increasingly making the switch to cheaper ways to get behind the wheel of an electric vehicle. Anthony Santos leases a Mercedes EQA through a salary sacrifice scheme as part of an employee benefits program. As a result, he only pays £360 a month—£210 less than the usual monthly leasing fee.
Meanwhile, according to the British Vehicle Rental and Leasing Association (BVRLA), used EV leasing is experiencing an incredible boom. This increase is due to both enhanced affordability and an increasing availability of vehicles with high depreciation rates. As above, electric cars are stoking this trend. Leasing provides a savvy option for anyone wanting to avoid substantial upfront expenses associated with purchasing new vehicles.
The Shift Towards Used EV Leasing
Though leases overall have surged in recent months, it’s largely due to the booming used car EV market leading the charge. In Q2 2025, EV leases skyrocketed to 40,600. This amazing jump reflects an incredible leap over last year. The rapid growth has made it much more likely that the number of used EVs in leasing companies has jumped. They account for close to half of all transactions today, a staggering increase from only 15% in 2024.
Thom Groot, a BVRLA spokesperson, emphasized the unprecedented fast paced change of the market.
“Three years ago used EV leasing was very small because there were very few used EVs on the market.” – Thom Groot
An increasing number of Americans are making the switch to electric. Now, leasing these cars is evolving into a savvy move, particularly for budget-minded Americans looking to maximize their savings.
Advantages of Leasing Over Buying
Leasing an electric vehicle provides specific benefits compared to buying one. Perhaps the most important advantage is the lower monthly payment schedule. It’s understandable since the upfront prices for leasing used electric vehicles (EVs) can often be shockingly low. You can get examples of the 2022 Mini Cooper S from £256 per month. The Electric Car Scheme offers used models under salary sacrifice arrangements too, starting from £292 per month.
Anthony Santos is a perfect example to illustrate this trend, as he walks us through his decision to lease his Mercedes EQA. He highlights the financial benefits that come with leasing:
“I was considering it, but I probably wouldn’t have.” – Anthony Santos
By leasing instead of purchasing, Santos was able to make the switch to an electric vehicle without a major upfront expense.
The Future of Electric Vehicle Leasing
Industry experts predict that the trend towards leasing used EVs will continue to grow as companies adjust to market demands. Toby Poston, the chief executive of BVRLA, describes today’s leasing deals as “stupendous.” He shines a light on amazing opportunities consumers should be jumping on today.
The shift to EVs has been supported by salary sacrifice schemes which offer employees tax benefits. Ian Hughes, chief executive of Zenith Group, emphasizes the importance of such schemes as a “major foundation stone of the transition” towards electric cars.
This creates a huge opportunity that leasing companies are already capitalizing on to help keep their bottom line healthy. They are holding onto EVs and providing them as used leases. Many EVs include an eight-year manufacturer warranty on their batteries. This additional coverage provides consumers with an added assurance that their leased vehicles are covered in the event of a breakdown.
Further, based on industry experience, electric cars are less prone to breakdown than petrol or diesel cars. This consistency builds confidence among consumers and opens the door to more of them leasing an EV.