New PCPs offer EV and ICE monthly payment parity for Vauxhall new car buyers

New marketing from Vauxhall is promising new car buyers the same equivalent monthly payment for petrol or electric versions of a Corsa, Mokka and Astra.

It means buyers who base their budget on their ability to pay monthly could now make an easier choice between the petrol or electric cars on offer, however the deal does not promise total parity - the PCP for an electric version is over five years, compared to four years with the petrol cars.

Nevertheless, the flexibility built into PCPs means that a buyer choosing the electric option could always hand back the keys at the four-year point and go shopping for another deal. The onus, however, will be on FCA-regulated firms to ensure that a customer is fully aware of their choices and any difference in the overall full-term deal.

Vauxhall says it is an "innovative five-year PCP offer" at 2.9% APR for orders taken by the end of June that makes  Corsa Electric available from £280pcm, Mokka Electric from £286pcm and Astra Electric from £421pcm, the same monthly price as a four=-year PCP for an equivalent petrol versions.

The Design, GS and Ultimate variants of Corsa Electric, Mokka Electric and Astra Electric are eligible, plus the recently revealed Corsa Electric YES Edition and Mokka Electric Griffin - and Vauxhall says the latter two special edition cars are actually cheaper per month, with an equal deposit contribution, than the equivalent petrol versions.

Corsa Electric YES Edition is available from £251 per month compared to £274 for the equivalent petrol variant. Mokka Electric Griffin is available from £286 per month compared to £318 per month for the petrol equivalent.

Large deposit contributions also sweeten the deal. After a customer's £2,000 deposit, Vauxhall will add its own £7,450 deposit contribution on Corsa Electric Design supermini, for example.

“As we move towards offering an electric variant of every Vauxhall by the end of 2024, we are committed to democratising access to electric vehicles and our latest offers bring our range of fantastic electric cars to British motorists for the same monthly cost as a petrol car – or less in the case of the special edition Corsa YES and Mokka Griffin," said Vauxhall managing director James Taylor.

The carmaker also points out that most EV drivers can also make savings through the car's running costs, when they are able to charge at home on a specific EV tariff and through the exemption from Vehicle Excise Duty and congestion charging.

As an incentive to buying a new car online, Vauxhall has upgraded its Plug & Go offer, which includes a free Ohme Pro wallbox charger installed by Octopus Energy, with access to Intelligent Octopus Go, an energy tariff specifically for EV drivers. Alternatively customers have the option to choose one year's free charging credit at Tesco or a £675 credit with Octopus Electroverse instead of taking the Ohme wallbox.

Taylor added: "Our enhanced Plug & Go offer also demonstrates our continuing efforts to simplify going electric, with a choice of affordable home and public charging solutions.”