Octopus Electric Vehicles is now offering drivers access to second-hand EVs via salary sacrifice, cutting the cost of going electric.

Drivers can access some of the most popular EVs on the market for as little as £300 a month

Its ‘Nearly New’ salary sacrifice offer enables drivers to access popular EV models such as the Renault Zoe, Peugeot e-208 and Vauxhall Mokka-e for as little as £300 a month, including insurance and maintenance costs as well as a charger and discounted energy tariff. Drivers can also get a Tesla Model 3 – one of the most popular EVs in the UK – for half the price of the same model on a personal lease.

All of the cars on offer are less than two years old and have been fully serviced.

The new service builds on the success of its flagship salary sacrifice offer, which launched in 2021 and is now used by more than 3,500 companies to boost their employee benefit package and help their staff go electric.

Octopus Electric Vehicles, part of Octopus Energy Group, said moving into offering second-hand EVs could entice drivers who may not have previously considered an EV, while also enabling them to benefit from the lower running costs of EVs.

Fiona Howarth, CEO, commented: “Used cars make up more than four out of five car sales in the UK, and so to reach net zero transport, we need to build a strong second-hand market for electric cars. As with all tech, the early models are expensive but with a growing fleet of second-hand cars, you can now run one of these high-tech, green, fun cars for half the price of an old school gas guzzler.”

“Leasing for EVs is an attractive option for people looking to go electric, allowing drivers to switch to the latest tech every few years and take advantage of low fuel costs. Very few of our drivers ever look back, and now going electric is even more affordable, opening it up to more drivers that may not have previously considered it.”

The new offer launches a month after Octopus Electric Vehicles secured £150m of funding from Pollen Street Capital to drive expansion of its electric vehicle salary sacrifice scheme.

Total funding raised for the Octopus EV leasing arm now stands at more than £650m. The company has also made the move across the pond, with the launch of Octopus Electric Vehicles in the US.