A new proposal has urged the government to act as a guarantor for electric car leases. The plan has been formulated to curb fears over electric car depreciation and, in turn, bring down prices for consumers. It could potentially even earn the Treasury a bit of extra cash.
The plan, devised by the British Vehicle Renting and Leasing Association (BVRLA) alongside the Green Finance Institute (GFI), would see a scheme set up under which government money would be used to absorb any big drops in used EV values. This would protect leasing firms if cars they lease to customers are worth less than predicted at the end of the agreement.
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