If you’ve ever been an electric car hire, you know that it can be a bit confusing to figure out the ins and outs of renting a vehicle. You might not have thought about what happens if your rental car gets damaged, or if you don’t return it on time. This isn’t just important for the insurance companies who deal with these situations every day, but also for us as drivers who want to make sure we’re on the same page with them.
What this contract is about electric car lease
An electric car lease is an alternative to buying one, where you pay to use the vehicle for a set period of time. In most cases, you’ll be able to drive it for as long as you want, but at the end of this time period, your contract with the leasing company will expire and they’ll collect their car back from you. This means that if at any point during your lease agreement payments become too expensive or inconvenient then simply returning your vehicle will cancel out everything you won’t owe anything further on top of what has already been paid off.
Definitions and interpretations of electric car lease
Electric car lease is a growing industry and one that has been gaining traction over the past few years. If you’re wondering what an electric car is and whether it’s right for you, then this guide will help you get to grips with everything there is to know about this environmentally friendly form of transport.
What Is An electric car lease?
An electric vehicle (EV) does exactly what it says on the tin: uses electricity as its primary source of power, rather than gasoline or diesel fuel. There are two main types of EVs hybrid vehicles and full EVs. Hybrid cars use both electric energy and petrol/diesel fuel, whereas full EVs only use electricity for power.
Hybrid vehicles will typically have a small battery pack that recharges from either the engine or mains supply when parked; when driving at speed (i.e., above 20mph), they also use regenerative braking technology which converts kinetic energy into stored potential energy in order to recharge these batteries as well as provide additional power when needed during acceleration or hill climbing manoeuvres.*Full EVs have larger battery packs which can store more electrical charge and therefore provide greater range between charges; however, these need to be charged regularly via mains sockets (usually overnight).
The electric car lease charge and the deposit
If you choose to make a deposit, it will be refundable at the end of the electric car lease period. The amount of the deposit can vary from one car hire company to another.
The amount of your deposit is generally non-refundable and non transferable if:
- You don’t return the car on time
- You use all or most of your allotted mileage allowance (for example, by driving out of the area)
- Electric car lease extensions, early returns, and replacement hirers
In addition to the terms of hire outlined above, electric car lease are also entitled to:
Extension of the rental period. If you need to extend your rental period, we will be happy to oblige at no extra cost. Please contact us prior to the end of your initial contract period if you wish for a longer lease or have any questions about this service.
Early returns are allowed without penalty. If there is an emergency or other reason why you need to return your vehicle early, please let us know so that we can give you a full refund for any remaining time on your contract and/or waive any penalties associated with early returns (if applicable).
What is breakdown cover?
The breakdown cover helps you get your electric car back on the road if there’s a problem with it. It includes towing, labor costs, and any parts needed to fix the problem.
What is insurance?
Insurance protects against any damage that could happen to your car while it’s being driven by someone else (for example, they might crash into another vehicle). The other driver would be covered by first party cover within their own motor insurance policy but you’d still be liable for damage caused by them when they’re driving your vehicle. Third party liability makes sure that even if someone else causes an accident with your leased vehicle, you’re still fully covered for any costs resulting from damage or injury that was caused by their actions under the Road Traffic Act 1988 at Section 149 (1) (c).
Ending the agreement and returning the electric car lease. At the end of the agreement, you will be required to return the electric car lease. The customer should ensure that they return the electric car lease in good condition and clean, including any interior/exterior cleaning or another specified cleaning as agreed upon in writing.
All damage caused by accidents and vandalism is not covered by warranty or insurance and will be charged to the customer at full replacement value (or the market price if not available). Any repairs carried out prior to returning the electric car require a repair quote from our appointed service provider.
Conclusion
The most important information about an electric car lease is how much it costs. You need to know this as a potential customer so that you can make an informed decision about whether or not the cost of running your new electric car will fit in with your budget.
