Electric Cars: Is It Better To Buy or Lease?

Leasing an EV or electric car has its perks. The EV makes life easier. The maintenance and recharge cost of an EV is much lower than that of petrol-fueled vehicles.

Reasons To Lease An EV

There is a rapid introduction rate of new technology and models. It is one reason why people lease EVs amongst the two options- electric car buying vs. leasing. By leasing an EV, you can upgrade to a new model when the lease ends. With it, you can stay updated on the latest technology of cars.

Hiring a vehicle lets one take advantage of the tax credit. It is best to lease a vehicle. You can upgrade your car every few months with your lease renewal.

Vehicles, in general, have depreciating value. After the first few years on the road, the car loses its value. You can lease a car on Quiklyz is better, and you can stay updated on the latest electronic technology.

Warranty Of The Vehicle

The lease on a vehicle lasts for 24 to 48 months. At this time, the car may face some technical issues. In the case of EV maintenance, a problem you may encounter is the need for a new battery. But when you lease the vehicle, even with such issues, you can still have a warranty cover, saving you money.

Less Monthly Payment

When you go for leasing amongst the option of electric car buying vs leasing, you can set a time for the payment. The payment is less than a car payment. The lower monthly cost is a considerable advantage. There is no need to put down much money to purchase the car. You must pay the money at a specific time each month.

Recent Tech Features

In comparison to conventional vehicles, the EV is advancing at a much faster rate. By leasing the car, you can always have cutting-edge technology with you. You can swap out an existing model with a new one before the lease ends.

Why Should You Buy An Electric Car?

You Have Full Ownership  

The only reason you should own an electric car instead of leasing it is the ownership factor. You can use the car whenever you want, on time and on schedule, without worrying about the leasing company. There are no fees or extra rent costs that make you worry.

When you buy a car, then it is yours. You have total control of your vehicle among the two options of buying vs leasing an electric car. Even if you buy it on loan, you can pay it according to your terms and conditions. You do not have to worry about wear and tear charges that will add up if you have leased the car.

Zero Vehicle Restrictions

The buying vs leasing an electric car dynamic always shows that buying the EV is better. When you buy the EV, you are not held captive by the vehicle odometer and drive freely on the road.

You can drive without any limitations. Other than that, you can also add bells and any other customized parts and accessories that you want to your EV. That is why it is much better to buy your electric vehicle than buying vs leasing an EV.

Tax Incentives

You benefit from several financial incentives by buying amongst the electric car buying vs leasing options. You can benefit from the tax cut in cases of climate-conscious vehicles.


You can lease a car on Quiklyz and reap the benefits of the newest tech without investing a hefty sum of money in a new car purchase.

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