Peugeot has recently launched its first electric hatchback, the e-308, which promises to offer a range of over 250 miles, a powerful motor, and a sleek design. The French automaker is also trying to attract customers with a tempting leasing offer: a Peugeot e-308 for only €250 ($280) per month. But is this deal too good to be true?
The fine print of the offer
The offer is valid until December 31, 2023, and it applies to the Peugeot e-308 Allure trim level, which comes with a 50 kWh battery, a 154 hp motor, and an 18-inch alloy wheel. The monthly payment of €250 ($280) includes a €6,000 ($6,720) ecological bonus from the French government, as well as a €2,500 ($2,800) trade-in bonus for an old diesel or gasoline car.
However, there are some conditions that might make this offer less appealing than it seems. First of all, the lease contract is for 49 months, which means that the total cost of the lease will be €12,250 ($13,720), not including the initial payment of €2,500 ($2,800). Secondly, the lease contract has a mileage limit of 40,000 km (24,855 miles), which means that the average annual mileage allowed is only 10,000 km (6,214 miles). If the customer exceeds this limit, they will have to pay an extra €0.05 ($0.06) per kilometer.
Thirdly, the lease contract does not include any maintenance or insurance costs, which will have to be paid separately by the customer. Moreover, the customer will have to return the car at the end of the lease period in good condition, or else they will face additional fees for any damage or wear and tear.
Is it worth it?
The Peugeot e-308 is undoubtedly an attractive electric car that offers a lot of benefits, such as zero emissions, low running costs, and a spacious interior. However, the leasing offer from Peugeot might not be the best option for everyone. Depending on their driving habits and needs, some customers might find the offer too restrictive or expensive in the long run.
For comparison, a similar leasing offer for the e-208 Allure trim level costs €199 ($223) per month for 37 months, with a €2,500 ($2,800) initial payment and a 30,000 km (18,641 miles) mileage limit. This means that the total cost of the lease will be €9,863 ($11,043), which is cheaper than the e-308 offer. Moreover, the Peugeot e-208 has a slightly higher range of 260 miles and a lower energy consumption of 11.9 kWh/100 km.
Another alternative is to buy an electric car outright or with a loan. For instance, a Renault Zoe Life trim level costs €32,000 ($35,840) before incentives, which can be reduced to €23,500 ($26,320) after applying the ecological bonus and the trade-in bonus. A loan with a 1.9% interest rate and a 60-month term would result in a monthly payment of €407 ($456), which is higher than the Peugeot e-308 lease payment but also gives the customer full ownership of the car and no mileage limit.
Ultimately, the decision to lease or buy an electric car depends on various factors such as budget, lifestyle, and preferences. The Peugeot e-308 leasing offer from Peugeot might suit some customers who want to drive a new electric car without committing to a long-term purchase or who have a low annual mileage. However, others might find better deals elsewhere or prefer to invest in their own electric car.