July 24th, 2024
Calculating Your Full Octopus EV Lease Savings Potential
How much can you save with Octopus EV?
Driving an electric car can save you money in multiple ways. Getting one from Octopus can save you even more.
On our website we show you how you can save thousands with an Octopus lease versus a new equivalent car. We do this by creating a true apples to apples comparison.
On our Choose Your Car page we show you exactly how we calculate this savings number.
Find the Total Cost of a New EV Lease
We calculate the total cost of leasing an equivalent new car. We use a standard 36 month lease with 10,000 miles per year to create an easy comparison.
To get an accurate view, we include taxes and fees. Read up here on how to make sure you're getting a complete pricing picture.
Here’s an example of a Tesla lease for a Model 3 RWD, which includes the monthly lease payment, plus a Due at Signing Amount.
In addition to the Due at Signing amount, there are 35 monthly payments, so the total is $17,983.
But don’t forget, there’s also a $395 disposition fee! So the grand total for this Tesla Model 3 RWD for 36 months is $18,378.
Compare to Octopus EV’s Simple Pricing
We want to compare this to the total cost for an Octopus lease. This part is easy because Octopus pricing is dead simple!
With Due at Signing of $2,379 and 36 payments of $379, the cost of our Model 3 RWD is $15,644.
We don’t have a disposition fee (or any other hidden fees!), so that’s the total cost!
We don’t play games with you. We just get you the best price on an electric car.
See your Savings
In this case, the savings will be $2,734.
But that’s just the beginning…
Don’t Forget Free Maintenance
Leasing a new Tesla doesn’t include maintenance (along with many other new car leases). With Octopus, this is included. And not only that, a mobile mechanic comes to you to perform it. If you follow Tesla’s recommendations, you’ll do the following over a 36 month lease with 10,000 miles per year:
- 4x tire rotations
- 2x clean and lubricate brakes
- Replace cabin air filter
We estimate that’ll run you at least $350 altogether.
Don’t Forget Tires
If you have to replace your tires, which may be necessary within the 30,000 miles of a 3 year lease, that’ll cost about $1,200. With Octopus, that’s free.
Don’t Forget Free Home Charging
With Octopus Energy and an Octopus EV lease, you’ll get free home charging for your entire lease.
If you drive 10,000 miles per year, you’ll use about 2,750 kWh of electricity to charge your car each year. If you pay $0.15 / kWh like an average Texan, you’d pay $413 per year for charging your car, or $1,239 over 3 years. With Octopus, that’s free.
Grand Total Savings
Adding it all up, that’s an additional $2,789 in savings with an Octopus lease when all the benefits are included!
Combined with $2,734 in savings vs. leasing new, all in all, that’s $5,523 in savings on your car payment, maintenance, tires and charging. Incredible!
