By Paul Homewood

When I looked at electric car prices the other day, it was pointed out that finance deals for the Nissan Leaf appeared to be cheaper relative to petrol. I have therefore had a look at Vauxhall’s finance deals for the Corsa-e, which can be directly compared to the Corsa petrol.

Both models are the bottom of the range SE:

Corsa-e SE NAV Premium

.

Corsa SE1.2 Petrol

To summarise the difference:

Excluding govt subsidy, the electric model is around £11K dearer, whether financed or not.

What is noticeable though is that the optional final payment is £5054 higher for the electric version. Vauxhall appear to be gambling that second hand prices in four years time for electric will be much higher now than they appear to be now.

Assuming they are right, all it means is that some of the extra £11k cost ends up being paid by second hand buyers, rather than all being incurred by the new car buyer.

What does not change is the fact that the electric Corsa is £11K dearer.

Difference
ElectricPetrolDifferenceExcl £2500 Govt Subsidy
OTR2414015815832510825
Total payable2659417337925711757
Total excl final payment152661106342036703
Final payment1132862745054

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April 24, 2021 at 07:39AM