Nissan is offering the three variants of its Leaf electric vehicle (EV) on PCP with the manufacturer’s ‘Flex’ option to fold the cost of the battery lease into monthly payments.

The Flex scheme builds on the monthly battery leasing begun by RCI Financial Services (RCI FS), the UK captive finance partner to Renault and Nissan, in November as mandatory on Renault EVs.

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In April it was announced Nissan EVs would also have battery leasing as an option, again run through RCI FS, for between £70 and £129 a month, depending on mileage and contract term.

Latest Leaf pricing

When bought on PCP, the Leaf Visia, Acenta and Tekna variants will qualify for a £1,600 deposit contribution from Nissan on top of the Government’s £5,000 plug-in grant for EV purchases.

With a customer deposit of £4,083, monthly payments on a Leaf Visia start at £119, plus £70 a month for the battery lease on a 7,500 miles-a-year contract, for 36 months. The balloon payment will then be £7,905. With the Flex battery lease, the Acenta will start at £239 a month and the Tekna at £289 on the same deposit.

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If the option is taken to buy the battery, rather than lease it, on a 36-month PCP the Visia will start at £229 a month, the Acenta at £279 and the Tekna at £329.

‘Aggressive offer’

Speaking to Motor Finance, Steve Gowler, managing director of RCI FS, estimated finance penetration was around 60% for the Leaf.

Gowler added the Renault Zoe, released this month, would be the first model from the French manufacturer to work "effectively as a retail car," similar to the Leaf.

Gowler said Nissan had marketed the Leaf on "a very strong, aggressive PCP offer," which was enhanced by the option to either purchase or lease the battery.

Further comment by Steve Gowler, as well as British Gas, Car Loan 4U and Hitachi Capital Vehicle Solutions, on the future of EV finance is available in the June issue of Motor Finance magazine.

richard.brown@timetric.com