Electric vehicles (EVs) are taking over Singapore’s roads, and leasing is becoming the go-to option for businesses and individuals looking for flexibility. But how long should you lease an EV? The answer: anywhere from 1 to 7 years, with 3 to 7 years being the most common choice. The ideal lease term depends on your needs, budget, and how often you want to upgrade to the latest EV technology.
Why is the 3-Year Lease the Most Popular Choice?
If you love driving the latest EV models with improved battery performance and cutting-edge features, a 3-year lease is perfect for you. Here’s why:
Frequent Upgrades: EV technology is evolving fast. A shorter lease allows you to switch to newer models more frequently.
Lower Maintenance Concerns: With a 3-year lease, your vehicle is usually under warranty, reducing unexpected repair costs.
Business-Friendly: Companies that rely on efficient last-mile deliveries benefit from newer EVs with improved range and lower operating costs.
What About 5 to 7-Year Leases?
If you prioritize stability and lower monthly payments, a 5 to 7-year lease makes sense. Here are the benefits:
Cost Efficiency: Longer leases usually come with lower monthly payments.
Less Hassle: No need to frequently switch vehicles and deal with new contracts.
Best for Businesses: Companies that need a reliable fleet for long-term operations can benefit from this option.
What If You Only Need an EV for a Year or Two?
Not ready for a long-term commitment? Some leasing companies offer short-term leases starting from 12 months. This is ideal if you’re:
Testing out an EV before committing to a longer lease
Running a short-term business project that requires electric vehicles
A company looking for seasonal fleet expansion
Short-term leases are flexible, allowing you to extend or switch to a different EV as your needs evolve.
EVFY: The Best EV Leasing Options in Singapore
At EVFY, we offer a variety of electric vehicles for lease, catering to different business and personal needs. Whether you need a compact van for urban deliveries or a heavy-duty truck for logistics, we’ve got you covered.
BYD T3 – The Compact Powerhouse
Max Payload: 780 kg
Cargo Volume: 3800 L
Range: Up to 300 km
Charge Time: AC 7.6 h / DC 1.3 h
Perfect for zero-emission, cost-effective deliveries, the BYD T3 is spacious, efficient, and fast-charging.
DFSK EC35 – More Space, More Range
Max Payload: 1100 kg
Cargo Volume: 4800 L
Range: Up to 331 km
Charge Time: AC 5.9 h / DC 1.0 h
Designed for businesses with larger delivery needs, the DFSK EC35 offers extended range and faster charging.
Golden Dragon XML5036 – Heavy-Duty Workhorse
Max Payload: 1730 kg
Cargo Volume: 6500 L
Range: Up to 250 km
Charge Time: AC 7.6 h / DC 1.3 h
Ideal for large-scale logistics operations, this EV can handle the biggest loads with ease.
DFSK EC31 – Urban-Friendly Electric Truck
Max Payload: 1280 kg
Cargo Volume: 3500 L
Range: Up to 280 km
Charge Time: AC 5.9 h / DC 1.0 h
Perfect for businesses needing substantial cargo space while maneuvering through tight urban areas.
SRM T3 – High Payload, High Efficiency
Max Payload: 1625 kg
Cargo Volume: 3500 L
Range: Up to 300 km
Charge Time: AC 8.1 h / DC 1.3 h
The SRM T3 is built for businesses that need a reliable, high-capacity electric truck with excellent range.
Choose the Right EV Lease for Your Needs
Leasing an EV in Singapore is all about balance. Do you want the latest tech every few years? Go for a 3-year lease. Need cost efficiency and stability? A 5 to 7-year lease is better. Want flexibility? Opt for a short-term lease.
At EVFY, we provide customized leasing solutions tailored to your business and lifestyle needs. Get in touch today and drive the future of electric mobility!