PCP is still the default
Battery depreciation was the historical worry for EV PCP, but improved battery warranties (typically 8 years/100k miles) and stronger residual values in 2026 mean GMFVs are now competitive with petrol equivalents.
Benefit-in-Kind: the elephant in the room
For company-car drivers, BiK on pure EVs is capped at 3% in 2026-27. That is significantly cheaper than the 25%+ BiK on many petrol company cars, and often makes company EV finance pay for itself.
Home charging: bundle it or don't?
Some lenders now bundle a home wallbox installation into the finance monthly. It's convenient but usually 15-25% more expensive than paying a separate installer up front. Worth doing the maths.
Used EV finance considerations
Ask for the battery state-of-health test result before signing. Anything above 85% SoH is fine; below 80% will cost you at return if you're on PCP. Independent EV inspection services (~£150) are worth every penny on used EV purchases.
