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‘Class-leading’ RVs prompt Renault to axe battery lease option for Zoe

By / 3 weeks ago / UK News / No Comments

Renault has axed the battery lease option for the Zoe EV; the result of claimed class-leading residual values as confidence in EVs rises.

 

The revised Zoe is now only offered in the UK with a full purchase option after gaining claimed class-leading RVs

Revealed earlier this year, the new, longer-range Zoe was made available to order in September on both a full purchase offer and with a battery lease option that brought a reduced upfront cost of £18,670 OTR (incl PiCG) compared to £25,670 OTR as a full purchase. When it first launched, Zoe was initially only available with a battery lease and was updated in November 2014 with the full purchase option.

However, Renault has now axed the battery lease option for the latest model following the publication of significantly improved residual values – up to 42% at the three year/30,000-mile mark according to Cap – that it says has enabled it to provide a more competitive full purchase price and customer offer.

The move brings the Zoe in line with the rest of the Renault Z.E. range and the UK electric vehicle market and shows the increasing market confidence in EVs. Zoe was initially only available as battery lease and was updated in November 2014 with the full purchase option.

Explaining the reasons for axing the battery lease, Renault said: “One of the main reasons that the battery lease option was initially introduced was to lower the initial purchase price of a Renault EV to be as close as possible to that of an equivalent diesel vehicle, in line with Renault’s aim of Sustainable Mobility For All. The recent improvements to the RV on the new Zoe in the UK mean that this financial gap has now been reduced and we are able to offer a simplified choice to consumers.”

On the 0% APR Renault Selections PCP scheme, this simplified choice means that the Zoe is available in Play R110 Z.E.50 guise from £269 per month with a deposit of £2,995.

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.