Used EV boom: Demand for second-hand electric leases surges 177% as UK drivers chase savings
Demand for second-hand EV leases jumps 177% year-on-year as more canny drivers switch to electric for less
Drivers can save up to 32% compared to new models, making EVs more affordable across both entry-level and premium options
Octopus EV expects demand to rise as more used electric cars become available, further improving driver choice
London, 23rd April 2026 – UK drivers are snapping up second-hand leased electric cars and taking advantage of significant savings, according to new data from Octopus Electric Vehicles (Octopus EV).Octopus EV saw a 177% surge in demand for used EVs versus March last year*, as more affordable second-hand models come onto the market.
This comes as the wider UK EV market continues to grow fast, with nearly one in four new cars sold in the UK in March being fully electric.**
Affordability is a key driver behind the surge, with second-hand salary sacrifice deals – which allow drivers to pay through their gross salary – offering meaningful savings compared to new cars.
Across the market, used EVs that are just a year or two old at all price points and specifications offer great value. For example, at the cheaper end, a Dacia Spring is available from just £176 per month compared to £239 new, saving around 26%. A Tesla Model Y comes in around £366 per month used versus £433 new (15% less), while BMW i4 comes in at £470 per month compared to £668 new, saving around 32%.
These lower monthly costs are helping more drivers make the switch to electric.
The rise in demand reflects a maturing EV market, with record new car sales in recent years now feeding a growing pipeline of high-quality used vehicles. As more ex-lease and fleet cars return to the market, drivers have more choice and better prices.
The data comes just a couple of weeks after Octopus announced an 89% jump in orders for new leased EVs in March compared to February, as drivers make the switch to electric amid rising petrol costs.
Gurjeet Grewal, CEO of Octopus Electric Vehicles, said: “We’re in the middle of an EV demand boom in the UK, and it’s clearly not just new cars that people are after.
“Drivers are waking up to the fact that going electric doesn’t have to mean paying new car prices. The jump in second-hand EV leasing shows people want a smarter, more affordable way to drive electric, while it’s clear that previous concerns about battery life are fading.
“With more high-quality, used EVs becoming available – a trend that is only set to increase – we’re making it easier than ever for drivers to cut costs.”
ENDS
Notes to Editors:
* Second hand EV leasing orders at Octopus Electric Vehicles increased 177% in March 2026 versus March 2025
** New Automotive Electric Car Count - March 2026
Press Contact:
Sam Salehi
sam.salehi@octoenergy.com
0204 5308 369
Octopus Electric Vehicles:
Octopus Electric Vehicles, part of the Octopus Energy Group, was launched in 2018 to make it easy for drivers to make the switch to clean, electric transport. With over 133 electric cars now available from 30 different brands, Octopus Electric Vehicles’ team provides everything drivers need to take to the road in a new EV.
Offering an all-in-one service, Octopus lease the cars, install charge points, provide specialist EV energy tariffs, and offer access to over 1.2 million public charge points globally via Octopus Electroverse - all with a 4.8* rating on Trustpilot.
Octopus Electric Vehicles also specialises in salary sacrifice schemes: an employee benefit that makes driving a brand-new electric car even cheaper than the petrol or diesel equivalent through tax savings. Placing customer experience first, Octopus Electric Vehicles has designed the scheme to be simple for an employer to set up and run, and to support them at every step. Drivers can typically save between 30-40% every month on the cost of their EV, and at zero cost for an employer to set up. It’s great for their team, their hiring and retention, and for their sustainability goals.
More information can be found at www.octopusev.com