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Lowest Price Guaranteed
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The 10 Cheapest Electric Cars In 2023

The 10 cheapest electric cars in 2023

One of the most regular criticisms of electric cars is that they cost way more than their petrol or diesel equivalents. And while it’s true that there is generally a premium for an EV compared to an equivalent petrol or diesel model - largely because the technology is new and development costs are higher at the moment - you’d be surprised at how affordable an electric vehicle is with leasing.

Electric car leasing opens up a range of choice that is normally beyond the reach of anyone who doesn’t want to pay in full to buy a car. And remember that electric cars will offer significant savings in terms of running and maintenance costs, too, all of which makes leasing an EV surprisingly affordable throughout the lifetime of your contract.

Interested? Read on to find out the cheapest electric cars and best electric car lease deals available with Vanarama right now.

1. Volkswagen E-Up (60kW electric motor/32kWh lithium-ion battery pack)

01. cheapest-10-evs-to-lease-2022-volkswagen-up

Maximum Electric Driving Range: 160.9 miles

0-62mph: 11.9 secs

Lease From: £264.95pcm

Vehicle Type: City car

An oldie but a goldie, the Volkswagen E-Up – insert the joke about a Yorkshire greeting here, if you must – continues to offer a compelling way into EV ownership, as you can stick one on your driveway for a little more than 260 quid per month with Vanarama… making this the cheapest EV you can lease.

It doesn’t have a huge amount of power – in fact, its 60kW (82hp) motor is the joint-least potent on this list – but a 32kWh battery pack in a car as compact as this means the battery range is excellent, at a claimed 159 miles.

2. Vauxhall Corsa-E UltimateElite Premium (100kW/50kWh)


Maximum Electric Driving Range: 222 miles

0-62mph: 7.6 secs

Lease From: £298.89pcm

Vehicle Type: Supermini

Holding the dual distinction of being the fastest-accelerating and longest-range EV on this list, the Corsa-E played a big part in the Corsa itself becoming the second best-selling car in the UK in 2021, with nearly 36,000 unit sales (of petrol, diesel and EV versions combined).

The Corsa-E’s appeal is that it looks exactly like a ‘normal’ Vauxhall Corsa, despite its clever electrical underpinnings, and you have to sacrifice precisely nothing in terms of interior space nor practicality to own the EV version. Not only that, but the Corsa-E will charge at up to 100kW speed, so its 50kWh battery pack will quickly be replenished if you find a fast public charger.

3. Smart EQ Forfour EQ Premium (60kW/17kWh)

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Maximum Electric Driving Range: 78 miles

0-62mph: 12.7 secs

Lease From: £306.94pcm

Vehicle Type: City car

Using the same powertrain set-up as the Smart EQ Fortwo (which also features in this list), the larger Smart EQ Forfour is for those who need to transport more than one passenger around on a regular basis.

Because it is a physically larger car than the Fortwo, it hasn’t got quite as much battery range - 78 miles from a single charge - and it’s a little slower to hit 62mph, but in most ways it’s very similar to the two-seater. It’s small, has a really tight turning circle and just feels very at home on crowded town roads.

There aren’t many that do it cheaper than the monthly leasing price the Forfour commands.

4. Smart EQ Fortwo Coupe PremiumBrabus Line (60kW/17kWh)

Smart eq fortwo coupe - cheapest electric cars

Maximum Electric Driving Range: 81 miles

0-62mph: 11.6 secs

Lease From: £307.97pcm

Vehicle Type: Ultra-compact city car

Accept the obvious compromises with the Smart EQ Fortwo Coupe EV – as in, it’s a minuscule two-seater and its titchy 17kWh battery pack results in a theoretical maximum driving range of 81 miles – and you’ll get on fine with this car. It is intended purely as a city-based car for two (hence the name), and if you treat it like that then you’ll probably get more than 81 miles from a charge as it’ll go further if you’re sticking to a maximum 30mph.

The other big appeal of the Smart EQ Fortwo is that nothing else looks remotely like it and therefore you won’t find anything easier to park this side of a bicycle (excluding perhaps the Citroen Ami quadricycle).

5. Fiat 500 Electric Hatchback Icon (70kW/24kWh)

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Maximum Electric Driving Range: 118 miles

0-62mph: 9.5 secs

Lease From: £313.96pcm

Vehicle Type: City car

The all-new Fiat 500 Electric is a truly brilliant city car and, at under £314pcm for this Icon specification model, it’s a complete bargain.

However, this deal is for the smaller 24kWh battery pack, which means the 70kW (95hp) motor and an all-in range of 118 miles. For an increase to just £376.92pcm, the 42kWh 87kW (118hp) model is available, which has a range of up to 186 miles. We’d go for that one, if you love the look of the Fiat – and we wouldn’t blame you if you do.

6. Mazda MX-30 Prime LineSE-L Lux (107kW/35.5kWh)

Mazda mx-30 - cheapest electric cars

Maximum Electric Driving Range: 124 miles

0-62mph: 9.7 secs

Lease From: £317.88pcm

Vehicle Type: Crossover-SUV

Another stylish crossover-SUV, Mazda's MX-30 has it all going on – rear-hinged back doors for maximum ‘wow’ factor at the kerb, a cork-lined interior to emphasise its ecologically sound cabin materials, and also a ‘right-sized’ battery pack (Mazda’s words) that has a good balance of range and light weight, meaning the car is surprisingly good fun to drive.

The drawbacks are it’s not the fastest thing in the world, only just cracking 10 seconds for the 0-62mph run, and its 124-mile battery range isn’t the best on the market. However, keep it to the city and urban limits, and this is one standout EV to lease.

7. Nissan Leaf Acenta (110kW/39kWh)

06. cheapest-10-evs-to-lease-2022-nissan-leaf

Maximum Electric Driving Range: 168 miles

0-62mph: 7.9 secs

Lease From: £319.08pcm

Vehicle Type: Family hatchback

The original Leaf is the car that brought electric vehicles into the modern mainstream, and this, the Nissan Leaf Mk2, improves on everything that made the first so popular. The enduring appeal of the Japanese EV is that it is incredibly pragmatic and straightforward – a sensible cabin, lots of space, big boot and decent driving range.

There’s a pricier Leaf e+ model, with a 59kWh battery pack and enough power to post a hot-hatch-troubling 6.9-second 0-62mph time, but for less than £320pcm you could have a well-specified Acenta on your driveway, complete with 168 miles of range. That’s more than enough for a regular urban commute.

8. MG ZS EV Excite (130kW/51kWh)

07. cheapest-10-evs-to-lease-2022-mg-zs-ev

Maximum Electric Driving Range: 198 miles

0-62mph: 8.2 secs

Lease From: £245pcm

Vehicle Type: Crossover-SUV

The first crossover on our list, the MG ZS EV represents the cheapest possible way you can lease yourself into the driver’s seat of a zero-emission SUV.

This deal is for the Standard Range model with the 51kWh battery pack, so if you want the 273-mile headline figure of the ZS then you’ll need the Long Range variant with the 72.6kWh lithium-ion unit – from £300pcm, about 55 quid a month more than this one.

However, the Standard Range version still has more driving capability to a charge than the old pre-facelift MG ZS had (176 miles), while a quirk of its voltage system means this car has more power (130kW, or 177hp) than the Long Range (115kW, or 156hp), so this ‘basic’ ZS is 2/10ths of a second quicker to 62mph than the 72.6kWh model.

9. DS 3 Crossback E-Tense Performance Line (100kW/50kWh)

10. cheapest-10-evs-to-lease-2022-ds3-crossback-e-tense

Maximum Electric Driving Range: 200 miles

0-62mph: 8.7 secs

Lease From: £335.93pcm

Vehicle Type: Crossover-SUV

Arguably the most out-and-out desirable EV on this list, the DS 3 Crossback E-Tense still comes in at less than £350pcm with Vanarama’s unbeatable leasing deals.

This is a crossover-SUV with a distinctive body and then an even more distinctive interior, complete with a repeated diamond motif. The Performance Line spec comes with a truly decent amount of luxury kit, while the 136hp motor and 50kWh battery pack mean you get more than 200 miles of battery range, as well as a brisk 8.7-second 0-62mph time.

10. Vauxhall Vivaro-E Life Combi (100kW/50kWh)

09. cheapest-10-evs-to-lease-2022-vauxhall-vivaro-e-life

Maximum Electric Driving Range: 141 miles

0-62mph: 13.1 secs

Lease From: £475.93pcm

Vehicle Type: Large MPV

In terms of the sheer size of the EV you get for your money, nothing else comes close to the value offered by the Vauxhall Vivaro-E Life, yours to lease from just over £475pcm.

This is a vast nine-seater minibus, in essence, although the use of the same 100kW (136hp)/50kWh motor-and-battery combination found in smaller cars like the Vauxhall Corsa-e and Peugeot e-208 does limit the maximum driving range somewhat, to 141 miles.

Nevertheless, if you’ve got lots of people to transport and you want to do it without harming the environment with tailpipe emissions, the bargain Vivaro-E Life Combi is the obvious candidate.

Will Electric Cars Become Cheaper?

Yes, eventually electric cars will become cheaper to purchase, due to lower production costs. A recent study by Bloomberg New Energy Finance found that by 2027 it will be much cheaper to produce electric cars. That’s thanks to more EV production lines, reduced battery costs, and improved designs.

However, if you didn’t want to wait until 2027 or beyond to drive an EV, leasing could be a much more affordable option. 

Is It Cheaper To Lease An Electric Car?

Electric cars are usually more expensive than petrol or diesel models, but leasing an EV is often a cheaper way with lower monthly payments than other forms of finance. Plus, you will save on road tax and roadside assistance, with both being included in all of our leasing deals. What’s more, EVs are much cheaper to run - making leasing an electric car ever more affordable.

For more on everything electric take a look at our expert electric car guides, including advice on charging costs, or check out our latest electric lease deals.

*Prices correct at time of writing.

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