As Singapore accelerates its shift toward greener mobility, electric vehicle (EV) adoption is rapidly gaining momentum. But while interest in EVs is high, many are still asking: should you buy an EV or lease one instead?
Electric vehicle leasing offers an attractive alternative to ownership—especially for businesses and individuals looking for cost-effective, future-ready solutions. At EVFY, we deliver practical, long-term leasing options designed around the evolving needs of drivers and businesses in Singapore. But what exactly does leasing entail, and is it the right path for you?
This guide unpacks the key pros, cons, and critical factors to consider when exploring EV leasing, so you can make an informed decision with confidence.
Key Takeaways
Leasing through EVFY reduces upfront costs and offers consistent monthly payments.
EVFY’s fleet includes commercial-grade electric vehicles with fast charging, high payloads, and generous cargo space.
A leased EV removes concerns over depreciation and resale value.
Lease agreements may include mileage limits and do not offer ownership at the end of the term.
EVFY offers flexible, long-term leasing packages tailored to Singapore’s drivers and businesses.
Advantages of Electric Vehicle Leasing
Lower Financial Barrier to Entry
Electric vehicle leasing significantly reduces the upfront costs associated with purchasing a new EV. Instead of a large down payment, you pay fixed monthly installments—ideal for businesses managing operating expenses or individuals budgeting for long-term use.
With EVFY, clients gain access to modern electric vehicles without overextending their finances. This allows for easier cost planning and greater affordability.
Access to a Professional, High-Performance Fleet
Leasing lets you drive the newest and most reliable models available. EVFY maintains a carefully selected fleet of commercial electric vehicles suited to Singapore’s logistics and transportation needs. Each model is built for efficiency, sustainability, and day-to-day practicality.
Options include:
BYD T3 A compact delivery van with up to 300 km range, 3,800 L cargo space, and 780 kg max payload. Fast charging in just 1.3 hours (DC).
DFSK EC35 Designed for heavier loads, with a 1,100 kg payload capacity and 4,800 L of cargo volume. Offers up to 331 km range and full DC charge in 1 hour.
Golden Dragon XML5036 Optimized for high-volume logistics with 6,500 L cargo capacity and 1,730 kg payload. Ideal for larger-scale operations.
DFSK EC31 A robust and compact truck that handles tight urban routes with a 1,280 kg payload. Perfect for efficient city deliveries.
SRM T3 Combines power and endurance with 1,625 kg payload, 300 km range, and a 53.6 kWh battery—suitable for heavy-duty use with low operational costs.
This range ensures that no matter the business requirement, EVFY offers a leased EV that delivers both capacity and performance.
Avoiding Depreciation and Resale Hassles
EV technology evolves rapidly, and this constant advancement can make vehicle resale more challenging and less rewarding. With electric vehicle leasing, depreciation is no longer your concern. Once the lease ends, you return the vehicle and explore an upgrade to a newer, more advanced model.
This is especially valuable for businesses that rely on consistently updated fleets for performance and branding.
Maintenance Support and Reduced Downtime
Leasing often includes bundled maintenance and servicing, and EVFY is no exception. Each electric vehicle lease comes with reliable technical support, ensuring minimal disruptions to operations. Because many leases fall within the manufacturer’s warranty period, unexpected repair costs are greatly reduced or eliminated altogether.
For fleet managers and growing businesses, this means better uptime and fewer unexpected expenses.
Considerations Before Leasing an EV
While the benefits are significant, there are also a few points to weigh before choosing a leased EV.
No Ownership at Term Completion
One key distinction of electric vehicle leasing is that you don’t own the vehicle at the end of the lease period. If asset ownership is a priority for you or your business, this may be viewed as a drawback.
That said, leasing offers greater flexibility—particularly in an industry undergoing rapid innovation.
Mileage Limits
Most leasing contracts come with mileage caps. While Singapore’s compact geography means lower daily distances for most drivers, it's still wise to consider your average usage.
EVFY helps ensure that your lease plan aligns with your actual operational patterns, so you avoid overages or restrictions.
Limited Customization
Leased EVs typically need to be returned in good condition. That means modifications or custom accessories are generally limited. However, EVFY’s fleet variety and configuration options cover most operational and aesthetic requirements straight out of the gate.
Factors to Evaluate Before You Lease
Before choosing a lease, consider the following factors to ensure the best fit:
Your Daily Driving Patterns
Evaluate how far and how often you drive. Urban-based deliveries, regular business routes, or logistics operations all present different requirements. Matching your needs with the right EV ensures efficiency and avoids unnecessary costs.
Charging Infrastructure
Reliable access to charging—whether through public stations or on-premise equipment—is critical. Many of EVFY’s models offer fast DC charging capabilities, reducing the time needed to refuel and keep your operations running smoothly.
Ideal Lease Duration
EVFY offers long-term electric vehicle leasing options on a monthly or yearly basis. Choosing the right duration balances budget and flexibility, ensuring you’re not locked in longer than necessary—or too short for practical use.
Vehicle Payload and Cargo Needs
Each EVFY model serves a distinct purpose. Whether you need compact urban maneuverability or high-capacity freight handling, choose a model that meets your daily logistics needs without compromise.
What’s Included in the Lease Agreement
It’s essential to understand the full scope of your contract—what is covered, what support is available, and how payment is structured. EVFY's transparent leasing terms give you clear expectations and dependable service from day one.
Why EVFY Is the Right Partner
EVFY stands at the forefront of electric vehicle leasing in Singapore. Our approach is straightforward, solution-oriented, and focused on making sustainable transport more accessible and efficient for businesses and individuals.
Here’s what makes EVFY the ideal leasing partner:
Wide selection of modern, commercial-grade EVs tailored for city logistics and business operations
Flexible lease durations and predictable costs to support your financial planning
Maintenance and support services designed to maximize uptime and reliability
Clear, professional guidance throughout the leasing process to help you make informed decisions
Commitment to sustainability and smarter mobility solutions for Singapore
EVFY’s goal isn’t just to put you in a vehicle—it’s to equip you with the tools, knowledge, and support to thrive in the age of electric mobility.
Electric Vehicle Leasing — The Smarter Way Forward with EVFY
As Singapore continues its journey toward a low-carbon future, leasing an electric vehicle becomes more than a financial decision—it’s a strategic one. Whether you aim to minimize costs, maximize efficiency, or meet eco-conscious goals, leasing with EVFY offers a forward-looking path.
By choosing EVFY, you gain more than just a leased EV. "Gain access to a dependable, high-performance fleet backed by a dedicated support team focused on delivering lasting value. Let EVFY guide your journey into sustainable, hassle-free transportation. Contact us today!