good or bad deal? Our opinion

Peugeot secretly presented its new electric e-308, a model which must compete with the Renault Mégane E-Tech and the Tesla Model 3, but which, on paper, does not seem to be up to the task. But will its more attractive monthly payments from 230 euros per month allow it to do well? We analyze together this long-term rental offer (LLD).

We cannot say that this is really a launch with great fanfare. Designed “because it had to be done” (at least that’s the impression it gives), the Peugeot e-308 was not originally designed as an electric car. It therefore has, on paper, all the constraints of an electric car with the basics of a thermal car.

Peugeot somehow reacted urgently to counter, as much as possible, Renault and its Mégane E-Tech. To make matters worse for the lion firm, the Renault is a very accomplished electric car, as we were able to point out in our test.

Concerning the Peugeot e-308, it’s quite simple, there was no official presentation planned for the press as is customary for this type of product. We will offer you a detailed test of the car in a few days, but according to the first feedback from our colleagues who have already been able to get behind the wheel, we are clearly not facing the electric car of the year.

Peugeot is certainly aware of this, and that is why the brand will focus on attractive prices. After a slight pricing hiccup at launch (the car escaped the ecological bonus for a base price 40 euros higher than the bonus eligibility threshold set at 47,000 euros, etc.) now resolved, the Sochaux brand displays its compact sedan from 230 euros per month.

It’s 70 euros less than the basic LLD of a Renault Mégane E-Tech, but should you be tempted? We will try to answer this question, only on the financial aspect since the car has not yet passed into our hands.

The Peugeot e-308 offered at 230 euros per month

Unlike most “from” offers, the Peugeot e-308 that interests us is offered with the “Allure” finish, which is none other. than a mid-range level with a rather interesting standard equipment. Here is the list of the main equipment available as standard.

• Dual-zone automatic air conditioning
• 10-inch digital dashboard
• 10-inch central touch screen
• Wireless Apple CarPlay and Android Auto
• Two front USB-C ports
• Automatic lights and wipers
• Front and rear electric windows
• Electrically folding mirrors
• Reversing radar
• Adaptive cruise control
• Fatigue detector
• Front central armrest with storage
• Heated seats
• Heated steering wheel
• LED spotlights
• 18-inch alloy wheels
• 22 kW three-phase Mode 3 charging cable
• Navigation system
• Reversing camera
• Two rear USB-C ports
• Automatic high beam/low beam switching
• LED daytime running lights
• Rear vents
• Dark tinted rear windows
• Ski hatch
• Gloss black exterior details

Globally, it’s quite complete, and there is not much missing in our eyes that is essential. For purely informational purposes, the finishing level above offers these equipment as extras, but obviously, you will come out of the LLD offer at 230 euros per month.

• Front parking sensor
• Blind Spot Monitoring
• Rear Cross Traffic Alert
• Matrix LED projectors
• Dynamic rear lights
• GT front and side sills
• Side badges
• Aluminum crankset
• Black TEP/Alcantara upholstery with green stitching
• Leather steering wheel

Whatever the equipment chosen, the Peugeot e-308 is equipped with an electric motor of 156 hp driving the front wheels. It is powered by a 54 kWh battery (51 useful kWh), giving the car a WLTP autonomy of 413km. In real life, according to the first tests already carried out, it is less.

What are the conditions to be eligible for the LLD offer for the Peugeot e-308?

As usual with long-term rental offers from Stellantis group brands, it’s a little complicated, even if the Peugeot e-308 is not the worst of the group. It is also in a way “the fault” of the subsidies granted by the government which are difficult to understand for those who do not diligently follow automotive news.

Concerning our Peugeot e-308, this is a long-term rental offer on 36 months and 500 kilometers per month, or 18,000 km in total. Using “500 km per month” and not 6,000 km per year is a nice marketing term to make things easier. ridiculously low mileage for a LLD car. Usually, 36-month offers tend to be around 10,000 km per year, or 30,000 km over the duration of the financing, which is not a panacea either.

Peugeot indicates that the offer at 230 euros per month is subject to a first rent of 4,950 euros, once the ecological bonus of 5,000 euros and the conversion bonus of 2,500 euros have been deducted. Good news, Peugeot is not playing on a tax detail that is almost impossible to obtain regarding the bonus.

In fact, the maximum ecological bonus fell to 5,000 euros at the start of 2023, but it can still be 7,000 euros depending on certain tax conditions. The bonus can reach 7,000 euros (up to 27% of the purchase price) for households with a tax income per unit of less than 14,089 euros. For the offer that interests us, Peugeot communicates on the “basic” bonus, which concerns everyoneand it’s very good like that.

The “only” condition to be met is that of the conversion bonus. To benefit from this bonus, you have to scrap an old diesel or gasoline model. The old scrapped vehicle must be a car or van whose gross vehicle weight does not exceed 3,500 kg. The date of first registration must be before 2011 for diesels and before 2006 for gasolines.

The vehicle must belong to the beneficiary for at least one year, while the reference tax income per share indicated on the tax notice of your income from the previous year must be less than or equal to 13,489 euros.

How much will the LLD of the Peugeot e-308 cost you?

Over three years of long-term rental, your Peugeot e-308 will cost you 13,000 euros. Peugeot displays its car from 43,900 euros on its site, ecological bonus of 5,000 euros, conversion bonus of 2,500 euros and additional discounts not deducted.

Still considering that you are eligible for the conversion bonus, once all the aid has been deducted, we arrive at a price of 36,400 euros. To this, Peugeot adds a commercial discount of 1,300 euros, and another trade-in bonus of 1,500 euros. The final price of the car therefore amounts to 33,600 euros.

Starting from this price, you will pay over the two years of the rental 38% of the price of your car. This is overall more than the discount over three years for this type of car, even if, in electric, where demand continues to increase, this implies a certain price stability. This is also why it is surprising, since the majority of the latest LLD or LOA offers that we analyzed over three years do not exceed 30%, or even 25%..

As the offer is not a LOA, there is no option to buy back the vehicle. It will therefore be necessary to return the car at the end of the financing.. Be careful with the restoration costs, these can be high at the time of return. We advise you to do this before at a bodybuilder, it will cost you less than at your dealership in general. If you take a vehicle back from your dealership after your LLD, they will also be a little less careful about repair costs.

In the case of the Peugeot e-308, also pay attention to the mileage, since each additional kilometer at the end of your contract will be billed.

Things to remember

Pay 38% of the price of a car over three years of use, compared to the offers that we have already analyzed previously, it’s not necessarily a good deal. Peugeot has focused on a very low residual value for an electric car, which overall proves, like the product launch, that the brand does not really believe in its product.

The good news, Peugeot did not play too much with state aid and this tax detail of the 7,000 euros bonus which generally misleads the customer in most cases, since the only people affected by this “super bonus” do not necessarily have the income to buy (or rent in this case) a new car.

The brand preferred to cut into its margins by indirectly offering two commercial discounts on its product (which are not explicitly indicated on the LLD, but in the context of a cash purchase) of 1,300 and 1,500 euros.

In our eyes, even if the first rent of almost 5,000 euros is a little indigestible, the 230 euros per month for this type of product are not completely above ground, since Peugeot seems aware of the weaknesses of its car by offering it less. expensive to rent compared to its main rival, the Renault Mégane E-Tech.

Remember that the LLD is only interesting if you want to change cars regularly. As part of the LLD, maintenance and warranty are included throughout the duration of the financing, even if, in terms of maintenance, electric cars require less compared to their thermal counterparts.

---