Used EV boom: Demand for second-hand electric leases surges 177% as UK drivers chase savings

Demand for used electric cars in the UK has surged by 177% compared to March last year, as more affordable second-hand EVs enter the market and drivers look for cheaper ways to switch to electric vehicles.

The growth in used EV demand comes as the wider UK electric car market continues to expand rapidly. Nearly one in four new cars sold in the UK in March were fully electric, highlighting the increasing adoption of EVs across the country.

Affordability is one of the biggest reasons behind the rise in used EV leasing. Second-hand salary sacrifice schemes, which allow employees to pay through their gross salary, are helping drivers access electric cars at significantly lower monthly costs than new models.

Many used EVs that are only one or two years old now offer strong value across a wide range of budgets and specifications. Examples include:

• A Dacia Spring available from around £176 per month used, compared to £239 per month new - a saving of approximately 26%
• A Tesla Model Y available from around £366 per month used versus £433 new - around 15% cheaper
• A BMW i4 available from around £470 per month used compared to £668 new - a saving of roughly 32%

Lower monthly payments are making electric vehicles more accessible for UK drivers and encouraging more people to move away from petrol and diesel cars.

The increase in used EV demand also reflects a more mature electric vehicle market. Record levels of new EV registrations in recent years are now creating a larger supply of high-quality used electric cars. As more ex-lease vehicles and fleet EVs return to the market, drivers are benefiting from greater choice, improved availability, and better pricing.

The latest figures follow an 89% increase in orders for new leased electric cars in March compared to February, as rising petrol costs continue to push more drivers toward electric motoring.

CEO Gurjeet Grewal said: “We’re seeing huge demand for electric vehicles across both the new and used car markets in the UK.

“Drivers are increasingly realising that switching to electric does not mean paying brand-new car prices. The rise in second-hand EV leasing shows people want a more affordable and practical way to drive electric vehicles, while concerns around battery life and reliability continue to decline.

“With more high-quality used EVs entering the market every month, we’re making electric driving more affordable and accessible for more people.”