Best electric cars for less than £300 a month

Best electric cars for less than £300 a month

Looking for a new EV, but don’t want to spend too much? Here are our top picks.

Though electric cars are becoming more closely aligned in price to petrol and diesel cars, it’s no secret that these models tend to be pricier, though it’s important to say that they should be noticeably cheaper to run.

However, that doesn’t necessarily mean that all EVs are expensive, with a number of more affordable options coming to market in recent years.

Here are five great electric cars you can get for under £300 a month. Please note all offers were correct at the time of writing, but are subject to change, 

Mini Electric

Electric model is proving such a hit too. Retaining all the fun of the standard car – both in terms of the way it looks and how it drives – it’s an ideal option for those that don’t travel too far thanks to its 145-mile range. 

With a relatively small £3,000 deposit, you can get behind the wheel of one for £300 a month. Though it does restrict you to the lowest-spec ‘Level 1’ version, itt still comes with features such as dual-zone climate control, digital dials and a large 8.8-inch touchscreen all included for the price. 

Model: Mini Electric Level 1

Monthly payments: 47 x £299

Customer deposit: £3,000

Deposit contribution: N/A

Total at end of contract: £17,053

Optional final payment: £11,618.93

Total paid to own the car: £28,671.93

Cash price: £26,000

APR: 3.9 per cent

Annual mileage allowance: 10,000

Enquire on a new Mini Electric

Peugeot e-208

Peugeot is quickly ramping up its range of electrified models, with nearly all its cars now available with a hybrid or electric option. One such example is the stylish 208 supermini, which you can also choose as an EV, the e-208. With a large 50kWh battery, the French firm claims it can travel for 217 miles on a single charge, while 100kW rapid charging capability means you can charge that battery to 80 per cent in just 30 minutes. 

But despite the e-208 having quite a steep upfront price, it’s actually really good value when it comes to financing, with Peugeot currently offering a well-specced Allure Premium version for £276 per month, along with a useful £900 deposit contribution. If you want a small, premium EV that won’t cost too much, this supermini is well worth your consideration. 

Model: Peugeot e-208 Allure Premium Electric 50kWh 136

Monthly payments: 47 x £276.26

Customer deposit: £6,144.07

Deposit contribution: £900

Total at end of contract: £19,128.29

Optional final payment: £12,792

Total paid to own the car: £31,920.29

Cash price: £28,525 (including plug-in car grant)

APR: 4.9 per cent

Annual mileage allowance: 6,000

Enquire on a new Peugeot e-208

MG5

If you’re looking for an EV on a budget, a car brand worth looking at is MG, which offers its electric ZS EV crossover and MG5 estate car at seriously affordable prices. While both are great choices, the greater affordability of the MG5 makes it our choice, while it’s also surprisingly good to drive and gets plenty of equipment as standard. It can also travel for a claimed 214 miles on a single charge, though a longer ranged version capable of 250 miles is shortly being introduced. 

With a relatively small £3,500 deposit contribution, it brings the monthly payments down to below £300 per month, while MG is also offers buyers a £750 discount purely for taking a test drive, along with a very attractive zero per cent APR. 

Model: MG5 EV Exclusive 53kWh 5dr Auto

Monthly payments: 48 x £267.73

Customer deposit: £3,500

Deposit contribution: £750

Total at end of contract: £16,083.31

Optional final payment: £10,494

Total paid to own the car: £26,577.31

Cash price: £27,595 (including plug-in car grant)

APR: 0 per cent

Annual mileage allowance: 8,000

Enquire on a new MG5

Volkswagen ID.3

Volkswagen introduced the ID.3 as its first bespoke electric car last year, and it’s already proving a very popular option in the EV market. It will only continue to do so, as the German firm expands the range with more affordable options.

The latest addition is a 45kWh battery model, and though it can’t travel as far on a single charge as others in the range, its claimed 217-mile range is far from disappointing, while you still get the same stylish look and roomy interior as other ID.3s. The key draw, though, is this newfound affordability, as the ID.3 is available from just £249 per month, when combined with a £4,723.04 deposit. Volkswagen is also currently offering a generous £1,750 deposit contribution towards it. 

Model: Volkswagen ID.3 Life 45kWh Pure Performance 150PS

Monthly payments: 47 x £249

Customer deposit: £4,723.04

Deposit contribution: £1,750

Total at end of contract: £16,426.04

Optional final payment: £11,992.50

Total paid to own the car: £28,428.54 (includes £10 option to purchase fee)

Cash price: £27,120 (including plug-in car grant)

APR: 4.8 per cent

Annual mileage allowance: 10,000

Enquire on a new Volkswagen ID.3

Fiat 500 Electric

Without doubt one of the most affordable ways to get behind the wheel of a new EV is with Fiat’s new electric 500, which gets a modern makeover and is far nicer to drive than the standard petrol model. It’s available with a choice of 24kWh and 40kWh batteries, which deliver a claimed range of 115 and 199 miles respectively. 

But if you don’t need a long range and want affordability, which can actually be had for under £200 a month with a £3,650 deposit, helped by an additional £950 contribution from Fiat. It means this 500 represents great value for money, while standard equipment still includes rapid charging capability, rear parking sensors and a digital instrument cluster. 

Model: Fiat 500 Action

Monthly payments: 35 x £199.27

Customer deposit: £3,650

Deposit contribution: £950

Total at end of contract: £10,624.45

Optional final payment: £11,358

Total paid to own the car: £21,982.45

Cash price: £20,995 (including plug-in car grant)

APR: 4.7 per cent

Annual mileage allowance: 10,000

Enquire on a new Fiat 500

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