Best new cars for under £500 per month

Alfa Romeo Tonale
BMW 5 Series
Hyundai Ioniq 5
Mercedes GLB
Nissan Ariya
Renault Megane E-Tech
Range Rover Evoque
Skoda Enyaq iV
Tesla Model Y

PCP Deals

Alfa Romeo Tonale – £421 per month

Model: Tonale 1.5 MHEV Ti Auto
Deposit: £3,792
Term: 48 months
Type: Personal Contract Hire
Engine: 1.5-litre 4cyl hybrid
Seats: 5
Economy: 49.6mpg
Boot space: 500 litres

You have to be really sold on the looks of the Tonale, because it seems pricey amidst larger and more polished rivals in this category. But it does deliver on the aesthetic front, and stands out nicely in a class which is, let’s face it, generally short on styling flair.

Alfa Romeo has done a great job with the dynamics, too, transforming some rather old Jeep underpinnings to create a sharp and satisfying compact SUV to drive. The cabin looks great, too, but the quality could be a little better.

View the latest Alfa Romeo Tonale deals at Leasing.com…

BMW 5 Series – £470 per month

Model: 5 Series 520d M Sport auto
Deposit: 4,231
Term: 48 months
Type: Personal Contract Hire
Engine: 2.0-litre 4cyl diesel
Seats: 5
Economy: 57.6mpg
Boot space: 530 litres

Another New Car Awards winner, this time in the Large Company Car category, but the 5 Series could seriously be considered the best model in BMW’s current range. Highlights include a luxurious interior, which comes with one of the best infotainment set-ups around.

It also looks great, and the style is far less divisive than that of some of its stablemates, particularly in the sporty M Sport trim of this version. Even though this is ‘just’ the 520d we’re looking at, this 5 Series will still prove brilliant to drive.

View the latest BMW 5 Series deals at Leasing.com…

Hyundai Ioniq 5 – £415 per month

Model: Ioniq 5 125kW SE Connect 58kWh
Deposit: £3,743
Term: 48 months
Type: Personal Contract Hire
Powertrain: 58kWh battery, 1x e-motor
Seats: 5
Range: 238 miles
Boot space: 527 llitres

The Ioniq 5 was our Car of the Year in 2021, and although it has more rivals to worry about now, it remains one of the best EVs on the market. Its boxy, retro-futuristic looks are still attention-grabbing some time after the car’s launch, and underneath that striking body is a highly efficient electric powertrain.

It also comes with prices starting from £43,150, which translates to fairly high leasing costs, so even this entry-level SE Connect car with the smaller battery is £454 a month. It’s worth it, though.

View the latest Hyundai Ioniq 5 deals at Leasing.com…

Nissan Ariya – £483 per month

Model: Ariya 160kW Advance 63kWh
Deposit: £2,958
Term: 48 months
Type: Personal Contract Hire
Powertrain: 63kWh battery, 1x e-motor
Seats: 5
Range: 250 miles
Boot space: 466 litres

The Ariya impressed us so much in 2022 that it snagged the overall victory in our Car of the Year awards. The cabin represents a huge improvement for Nissan, adopting a slick design that features controls embedded into a huge and premium-feeling block of wood stretching across the dashboard.

For this budget you’ll have to settle for the smaller battery, but the official electric-only range is still healthy, and when you do need to top up, 130kW rapid-charging capability means you won’t be hanging around for long.

View the latest Nissan Ariya deals at Leasing.com…

Renault Megane E-Tech – £454 per month

Model: Megane E-Tech EV60 160kW Techno 60kWh
Deposit: £4,089
Term: 48 months
Type: Personal Contract Hire
Powertrain: 60kWh battery, 1x e-motor
Seats: 5
Range: 280 miles
Boot space: 440 litres

The Megane E-Tech is nothing like the car it replaces. It represents a big step forward for interior design and tech, made possible by the Renault-Nissan Alliance’s new CMF-EV electric car platform.

Helped further by impressive driving dynamics and a strong electric powertrain, the E-Tech made it to the top of the Small Company Car category at our 2022 New Car Awards. The mid-range Techno models come with bigger wheels, a Google-based infotainment system and wireless phone charging, while all models get 130kW rapid-charge capability.

View the latest Renault Megane E-Tech deals at Leasing.com…

Range Rover Evoque – £414 per month

Model: Evoque 2.0 D165 R-Dynamic S 2WD
Deposit: £3,722
Term: 48 months
Type: Personal Contract Hire
Engine: 2.0-litre 4cyl diesel
Seats: 5
Economy: 45.3mpg
Boot space: 472 litres

The previous Evoque left the Range Rover badging to do a lot of the heavy lifting, but that’s not the case for the current car. The much sleeker-looking model has a vastly improved and tech-packed interior, and as ever, it’s considerably more capable than its rivals if you’re planning to take the Evoque off-road.

This one will struggle more than other derivatives, however, because it’s the two-wheel-drive version, fitted with a 2.0-litre diesel engine and combined with the mid-range R-Dynamic S trim grade.

View the latest Range Rover Evoque deals at Leasing.com…

Tesla Model Y – £499 per month

Model: Model Y RWD 5dr auto
Deposit: £4,489
Term: 36 months
Type: Personal Contract Hire
Powertrain: 85kWh battery, 1x e-motor
Seats: 5
Range: 283 miles
Boot space: 971 litres

Although the build quality of Tesla’s products is still under scrutiny, the US company has the edge over rivals when it comes to electric powertrain tech. So, even though this is a basic single-motor version of the Model Y, it’s still well worth a look.

It’s quick, and unlike with many EVs, you stand a good chance of getting close to the official range figure. The interior layout won’t be to everyone’s liking, though, because it does away with a traditional instrument cluster in favour of a single, centrally mounted screen.

View the latest Tesla Model Y deals at Leasing.com…

PCH deals

Mercedes GLB – £489 per month

Model: GLB 200 D AMG Line Premium
Deposit: £7,583.63
Term: 48 months
Type: Personal Contract Purchase
Engine: 2.0-litre 4cyl diesel
Seats: 7
Economy: 49.6mpg
Boot space: 570 litres

Unlike some of its premium SUV rivals, the Mercedes GLB has the advantage of being offered with seven seats – making it an ideal choice for families who enjoy a touch of luxury.

The GLB is far from being the most entertaining Mercedes to drive, but it makes up for this with an impressive level of ride comfort. It’s even quite economical for a car of its size, too, with the 2.0-litre diesel engine on offer here being capable of returning over 49mpg.

View the latest Mercedes finance deals…

Skoda Enyaq iV – £469 per month

Model: Enyaq iV 80
Deposit: £8,585
Term: 48 months
Type: Personal Contract Purchase
Powertrain: 82kWh battery, 1x e-motor
Seats: 5
Range: 339 miles
Boot space: 585 litres

The Enyaq iV is the first purpose-built electric car to wear a Skoda badge, and the brand has truly hit the ground running with this family SUV. Not only is the Enyaq iV highly practical and well put together, it’s comfortable and offers plenty of battery range, too.

Step inside and you’ll see that the Skoda’s on-board kit is pretty generous; with alloy wheels, LED headlights, climate control, cruise control and rear parking sensors all fitted as standard. What’s more is that the Enyaq iV boasts a full five-star safety rating from Euro NCAP.

View the latest Skoda finance deals…

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