The famous social leasing, i.e. “electric car for 100 euros per month”, is a measure announced by Emmanuel Macron during his last presidential campaign. At the end of 2023, we still have no concrete news on this subject, other than the fact that today it is a good marketing lever for certain manufacturers who offer some of their electric cars for less than 100 euros per month.

But thanks to PFA (Automotive Platform) Automotive Day on Tuesday 24 October, we now know (a little) more about social leasing. Already good news: it will be ready in 2024, as confirmed by Minister of Economy Bruno Le Maire. It will even start working from 1^Er next January, p “pre-registration possible this fall”. The decree should be published in the near future.

What will be the conditions of social leasing?

An LLD (long-term lease) or LOA (lease-to-buy) contract is for three years, with free termination in the event of the tenant’s death, disability or loss of employment. So far no revolution other than to complete the offer with these services, the government had to revise its copy somewhat, in particular in the part of the budget.

Indeed, Bruno Le Maire now mentions social leasing at €100 a month “without insurance”. These insurances are “strongly recommended” if not mandatory for certain manufacturers to complete the financing file, instead, the final amount will be approximately €150 per month (so with insurance…) according to a document obtained by our colleagues at Capital.

Obviously, to reach this amount, subsidies will still play a major role. Assistance should reach 13,000 euros given the current environmental bonus of €7,000, supplemented by an envelope from the state, itself limited to 16% of the price of the vehicle in question or €5,000. This benefit cannot be combined with a conversion bonus.

Used vehicles are also included in this offer, with a total of €6,000 in aid (including the environmental bonus and social leasing aid).

Which electric car will it affect?

There will be not one, but several. Bruno Le Maire named three: Citroën ë-C3, Renault Twingo E-Tech and Fiat 500e. Other models are expected to be introduced in December. simultaneously with those integrated into the new environmental bonus. Eligible electric vehicles must meet the environmental score of the new CO bonus₂cost no more than 47,000 euros and weigh less than 2.4 tons.

This was also clarified by the Minister of Economy the first rent will be fully the responsibility of the state. A state that will also guarantee unpaid debts, thereby reducing risks for captives and developers.

Regarding eligibility conditions and criteria, social leasing will be intended for the most modest households, whose basic annual taxable income does not exceed €14,000. It will not be possible to accumulate two consecutive benefits per household. According to a source close to the matter, the system will cover 50% of these poorest households, only 20,000 maximum contracts were signed in 2024.

In other words, it seems that at the moment we are quite far from the campaign promises of Emmanuel Macron, and reality seems to have caught up with the government.

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