Exposed: Electric Car Leasing Companies Overcharging Drivers by Hundreds of Pounds Each Month

As the world moves towards a more sustainable future, electric cars have become a popular choice for many. However, recent findings reveal that drivers leasing new electric cars may be overcharged by hundreds of pounds each month. The Clean Transport Group has claimed that drivers who opt for leasing are paying more than they should due to inflated interest rates.

According to the Clean Transport Group, drivers who lease electric cars may be overcharged due to inflated interest rates. The group claims that leasing companies are charging interest rates higher than the standard rate for electric cars. This has resulted in some drivers paying hundreds of pounds more each month than they should be.

The group has conducted a survey of 20 leasing companies and found that 18 out of the 20 companies charged interest rates above the standard rate. Some of these companies charged interest rates that were as high as 9.9%. This is significantly higher than the standard rate for electric cars, which is around 3%.

These inflated interest rates are leading to significant cost increases for electric car drivers. On average, leasing an EV car is 51% more expensive than leasing a petrol or diesel equivalent. Drivers are being forced to pay a premium simply for choosing an environmentally friendly option.

Moreover, companies have been accused of failing to reflect the strong resale value of cleaner cars when they set their prices, according to the same clean transport campaign group. Leasing companies must take into account the fact that electric cars hold their value better than petrol or diesel cars, yet they are not passing these savings onto their customers.

Overcharging can have significant implications for drivers who opt for leasing an electric car. The inflated interest rates can result in drivers paying significantly more than they should be for their car. This can impact their monthly budget and leave them struggling to make ends meet.

Furthermore, the overcharging can also impact the electric car industry as a whole. If drivers feel that they are being overcharged, they may be discouraged from leasing an electric car altogether. This can slow down the growth of the electric car industry and hinder the world's progress towards a sustainable future.

If you are considering leasing an electric car, it is important to do your research and find a leasing company that charges a reasonable interest rate. You can do this by comparing the interest rates of different leasing companies and choosing the one that offers the best deal.

Another way to avoid overcharging is to negotiate with the leasing company. If you have a good credit score, you may be able to negotiate a lower interest rate. It is important to be aware of the standard interest rate for electric cars and use this as a reference point during negotiations.

In conclusion, the issue of overcharging in the electric car leasing industry has come to light. Leasing companies are charging interest rates higher than the standard rate for electric cars, resulting in some drivers paying hundreds of pounds more each month than they should be. Drivers must take action by researching and negotiating with leasing companies to find the best deal and avoid being overcharged.