Best electric car finance deals 2026: top EV PCP offers

Written by: Tom Phillips

Last updated: 10th March 2026

Fancy driving a new electric car but don't want to take the risk when it comes to depreciation? A PCP finance deal could be worth considering as you can choose whether to own the car at the end of the agreement.

Electric cars are getting more and more popular, with sales records falling on a monthly basis. Switching to an EV might require some thought, but provided you plan carefully and charge when rates are cheapest, electric car running costs are extremely low and life with an electric car could well be far simpler than you thought.

To help you make the switch, there are plenty of great PCP deals on offer, including 0% finance, generous deposit contributions and other incentives like discount servicing packages. Sign up for one and you'll benefit from affordable, predictable monthly payments and the ability to just give the car back at the end of the agreement, with nothing else to consider, if driving electric isn't for you.

There's also the government's Electric Car Grant to consider, which includes a discount of up to £3750 off the OTR price of new EVs that cost less than £37,000. The list of cars which are eligible for this scheme is growing all the time as new EVs are certified. Full details are available here.

However, if you do find that an EV fits right into your life, you have the option to either pay the optional final amount and own the car, or upgrade to a new model.

After more deals on new cars? Check out our round-up of all the best new car deals around. 

Best Electric Car PCP Deals

Here's our list of the best EV PCP deals being offered by carmakers right now. We've also highlighted certain deals on specific electric car models that caught our eye.

Best electric car finance deals A-Z

What is the government Electric Car Grant?

The UK Electric Car Grant is part of a £650 million fund intended to make buying a brand-new electric car more affordable and encourage people to switch to an EV before new petrol and diesel car sales are phased out in 2030. 

The maximum grant amount is £3750 off the car's OTR price, although a £1500 grant is available for models that partially meet the scheme criteria. Carmakers have to apply to add their models to the scheme, and only models that cost £37,000 or less are eligible. 

Applications began on July 16, and the first models to qualify will be announced on August 11. However, carmakers including Leapmotor, GWM, Skywell, Hyundai and Volvo have all announced equivalent grant discounts so you don't have to wait to get behind the wheel of a shiny new EV at a discounted price.

What are the benefits of buying an electric car on finance?

Aside from the environmental benefits, lower running costs and lower tax associated with EVs, taking out a PCP deal on an electric car gives you flexibility. For a relatively affordable deposit - often covered at least partially if you have a car to trade-in - and fixed monthly payments - you get to try the EV life for size.

If, at the end of your deal, you're not convinced, you can simply give the car back, or use the equity against a new PCP deal on a car that might better fit your needs. If it turns out the EV is a great fit, a PCP also gives you the option of being able to buy the car outright and continue motoring for many happy miles to come.

What are the negatives of buying an electric car?

Wider concerns about running an EV, particularly as your only car, are well documented. But aside from range anxiety and charger drama, many electric drivers report being pleasantly satisfied with the results of making the electric switch.

As new technology, electric vehicles currently cost significantly more than their ICE-powered counterparts. And that means higher upfront costs like initial deposits, and higher monthly payments than a petrol or diesel equivalent. However, some of this cost is clawed back through cheaper running costs, while many EV deals have significant incentives, like large deposit contributions, 0% APR and discounted home chargers to encourage you to plug in. 

Another consideration is early termination of your PCP agreement. This is an issue regardless of how your car is powered, but if the EV life really doesn't suit you, paying to terminate a PCP early can be an expensive business. As ever, it pays to be informed of any and all costs before you sign the deal.

How do PCP prices for EVs and non-electric cars compare?

As they tend to be loaded with the latest technology and packed with very expensive batteries, electric vehicles tend to be priced considerably higher than their petrol and diesel powered counterparts - for now at least. However, as the car industry sees electric cars as the future, in the shorter term there are some very affordable deals to tempt you into going electric.

It's also worth considering your overall running costs should be much lower if you finance an EV, as you won't be paying for fuel any more, tax rates are lower, ULEZ or other clean air zones are no longer a worry, and you'll be making a small contribution to lowering emissions, too.

Can I still get a home charging point even with a finance deal?

Yes, many carmakers even offer a range of charging points or discounted installation as part of their deals, and these can qualify for a government grant. As long as you own a flat with off-street parking, you can get up to 75% of the unit and installation costs covered, up to a maximum £350 including VAT. Sadly, single occupancy houses and bungalows aren’t covered by the scheme.