The BYD Sealion 7 Electric Car Lease goes Live

Our latest electric car lease goes Live - The BYD Sealion 7

The news is taking a slightly different route this week. While the pros and cons of moving electric are still ongoing at the same pace as always, a more complicated event is still rumbling on and this may impact the way in which our business (a credit broker) works in the UK’s car finance market. 

The Supreme Court will be hearing the appeal further to the recent Court of Appeal judgement on commission. The reality is that the FCA are now considering that the motor industry will have to offer some industry-wide redress scheme if the decision is fundamentally upheld. Indeed, the FCA will be confirming its stance within six weeks of the Supreme Court’s decision, with a view on redress schemes and logistics.

With the Court of Appeal looking at discretionary and non-discretionary commission arrangements, the regulator will have to consult on both. Indeed, we may see FCA changes to our leasing industry as a result.

But why is this occurring?

As you can see from the popular  Martin Lewis  website the notion of finance mis-selling in the automotive segment has been ongoing for some months now further to the Court of Appeal decision. As the website sets out, there will be a view on both - a) discretionary commission arrangements and b) non-commission arrangements.

In relation to a DCA, this will review those transactions here brokers / dealers are able to alter the finance commission in the deal. While much of this relates to PCP and HP agreements up to 2021 (which we do not offer), there will be views held on how commission is calculated and communicated.

In the leasing industry, discretionary arrangements have been in place, with the underlying amounts effectively influencing the monthly rental the customer will pay. This applies equally to regulated (retail, sole traders and partnerships) and non-regulated (limited companies and LLPs) customers.

For any non-DCA arrangements this will review those transactions where a broker or dealer is paid a set amount for the transaction, with no ability to increase or decrease. The key dates for this are April 2025 for the Supreme Court decision to either uphold or overturn the Court of Appeal decision, with the FCA to provide guidance around May 2025 based on the Supreme Court outcome.

Every business has been taking, and will take, a different approach to the customer process. While many individuals will be following the momentum of Claims Management companies, who are self-invested to create a compensation pot, some customers will be unsure of their relevant finance product, their purchase dates and their relevant rights.

We have already experienced this with the customer responses to our business. Since 2024, the e-car system - Lythium - has been openly disclosing the commission in our deals to both regulated and non-regulated customers on all transactions.

Prior to this date, we have openly led with key statements in our customer quotations so that they are aware that a) we are remunerated for our services; b) this is paid to us by the finance companies; and c) this influences the monthly rental. Some commission is discretionary (meaning we can alter) and non-discretionary (meaning we are provided with a fixed commission).

Since adopting a more open approach we have not encountered much in the way of objection of customer negativity. Our electric experts provide the UK’s leading advice and tools for electric vehicle leasing. Indeed, our EVC™ is a unique tool in the UK which assists every customer, personal and business, to make an informed decision on their next new vehicle.

As per our Commission Disclosure the various bespoke approaches do help legitimatise the amount of commission we charge. As many customers note, this is commensurate with other similar entities in our industry. At the heart of what we do, is to provide our customers with exceptional value and leading service.

There is much to play out in the motor industry and the operation of finance. What is most crucial is that clear and concise decisions are reached by the relevant courts and regulators. For the contract hire and leasing industry, providing a positive experience is key to many of us, with our systems ensuring that customers understand the vehicle(s), the finance products and the key aspects of how we operate. We are committed to starting ahead of the curve and ensuring that our customers feel truly satisfied by the high standards we ambitiously chase.

Introducing the BYD Sealion 7 Electric Car Lease

So for manufacturers like BYD, who have launched their new SUV - the Sealion 7- having a robust leasing broker network is key. Many of us are at the heart of the electric car transition for PCH., BCH and salary sacrifice customers. The reality is that if the government does want to achieve the ZEV Mandate aims, then it will need to ensure that our industry continues in order to support the manufacturers in their endeavours to stay legally, and ethically, compliant with the UK’s transport market.   

But how does the Sealion 7 perform?

As per below there are 3 configurations including: 

•  Comfort -  (from £46,990) with a usable battery of 82.5 kWh this RWD offers 230 kW (308hp), top speeds of 134 mph and 0-62 times of 6.7 seconds. Real-world ranges suggest a combined 220 miles in colder weather with warmer temperatures to allow for 300 miles (on a full charge) - 260 miles combined . The 11kW AC allows for 0-100% charging times of 9 hours with the 150 kW DC enabling 10-80% in 32 minutes. The Sealion has Bidirectional charging - a V2L which has a 3.3kW AC output from an exterior outlet. It has a 128 mpg equivalent, 520L cargo volume and offers towing capacities of 750kg (unbraked) and 750kg (braked). The heat pump is standard;

• Design - (from £51,990) with a usable battery of 82.5 kWh this AWD offers 390 kW (523hp), top speeds of 134 mph and 0-62 times of 4.5 seconds. Real-world ranges suggest a combined 215 miles in colder weather with warmer temperatures to allow for 285 miles (on a full charge) - 250 miles combined . The 11kW AC allows for 0-100% charging times of 9 hours with the 150 kW DC enabling 10-80% in 32 minutes. The Sealion has Bidirectional charging - a V2L which has a 3.3kW AC output from an exterior outlet. It has a 123 mpg equivalent, 520L cargo volume and offers towing capacities of 750kg (unbraked) and 1500kg (braked). The heat pump is standard; and
•  Excellence - (from £58,990) with a usable battery of 82.5 kWh this AWD offers 390 kW (523hp), top speeds of 134 mph and 0-62 times of 4.5 seconds. Real-world ranges suggest a combined 215 miles in colder weather with warmer temperatures to allow for 285 miles (on a full charge) - 260 miles combined . The 11kW AC allows for 0-100% charging times of 9 hours with the 230 kW DC enabling 10-80% in 24 minutes. The Sealion has Bidirectional charging - a V2L which has a 3.3kW AC output from an exterior outlet. It has a 120 mpg equivalent, 520L cargo volume and offers towing capacities of 750kg (unbraked) and 1500kg (braked). The heat pump is standard.

For more information on the best BYD deals, just head to our designated BYD section, or just get in touch with our team on 01942 910 001 or by emailing us at [email protected]