- France launches “social leasing” at an affordable €40/month, making electric cars accessible for low-income drivers.
- President Macron’s October initiative targeted €100/month payments, but manufacturers have reduced costs with a government-subsidised programme, eliminating the need for a down payment.
- The programme promotes smaller electric models produced in France and Europe including Renault’s Twingo E-Tech, Fiat 500e, Peugeot’s E-208, Open’s Corsa-e, and Citroën’s ë-C3.
France’s affordable ‘social leasing’ breaks barriers for low-income drivers
France is leading by example, making EVs more accessible to a broader audience through the introduction of a pioneering “social leasing” initiative. Now, those with limited financial means can benefit from EV leasing for a remarkably affordable €40 (£35) per month, with zero upfront costs. Plus, in some cases, free charging will be offered for up to six months, further enhancing accessibility to sustainable transportation for low-income drivers.
President Emmanuel Macron initially rolled out this game-changing programme, aiming for lease payments of €100 (£85) per month to support low-income drivers. However, thanks to the ingenuity of automakers, the price has been slashed even more. Eligible drivers now enjoy the perk of zero down payment, courtesy of government subsidies, making sustainable driving an affordable reality for those who need it most.
In line with vehicles qualifying for green tax incentives, the programme extends its preference to electric models hailing from France and Europe. The highly anticipated Renault Twingo E-Tech steals the spotlight, available at a mere €40 a month, encompassing maintenance, assistance, and even free recharging for the first six months. The Fiat 500e is on the table for €89 per month, a practical choice. Peugeot’s E-208 is there for €99 monthly, and Opel’s Corsa-e comes in at a reasonable €94. For those watching their budget, Citroën’s ë-C3 is up for grabs at a modest €54 each month. It’s a lineup that not only drives green but also caters to diverse tastes and budgets.
To be eligible for the social leasing initiative, French residents need an annual income below €15,400 (£13,300), must cover over 8,000 km (4,971 miles) annually, and live at least 15 km (9 miles) away from their workplace. Those who meet the criteria can benefit from a three-year lease with a potential purchase option at the end. The lease agreement also encompasses insurance costs and provides cancellation coverage in case of death, disability, or unemployment. It’s a program designed to make sustainable transportation accessible while offering essential financial safeguards.
Though the eligibility criteria for this initiative, targeting families €5,000 below the minimum wage, is restrictive, it is estimated that 4 to 5 million individuals in France will be eligible. It marks a commendable start. The program is set to launch slowly in January, aiming for 20,000 leases by the end of next year before expanding.