Should You Consider Buying a Used EV?

The EV world has been more than a little topsy-turvy during the past few months. Sales of some models plummeted. Overall, the electric car market set some sales records. The cars seem to get better with every new or updated model. And the choices have expanded exponentially in the past half-decade.

But, prices are still high. According to a study by Edmunds last year, the average new EV costs $17,326 more than the average gasoline-powered car. There are deals — and some new, lower-priced are on the horizon. Generally, you can expect to pay more pound-for-pound for an electric car. That squeezes some folks out of the new EV market.

There is another lower-cost option. Look at the used EVs.

As is usually the case, used EVs are cheaper to purchase than new EVs. However, tradeoffs accompany the decision to choose a used car. Here’s a run-down of the pros and cons.

The pros

There are deals. Because the EV market is still developing, used EVs don’t have firmly established resale values. Keep that in mind and you may find there is more room to negotiate sales prices with an EV.

The expansion of models has caused some older models to lose value. So, shop around. That’s never been easier with the internet at our fingertips. One of my automotive journalist colleague’s, Tom Voelk, took the plunge himself and got a real bargain.

The variety of models available is pretty broad—everything from short-range city cars to high-end sports cars like the one Tom found, and all of the SUVs and sedans in-between.

Because much of the new technology is software-based, a used EV may not be as outdated as a used ICE (internal combustion engine vehicle). If an owner has kept up with over-the-air updates, you could end up with a vehicle that is functionally equal to a new one (less some wear-and-tear).

Another plus for the used EV. Key components, like the battery, are warranted for long life, so the chance of running up really big repair bills is less than on a gas car.

There are spiffs. While the federal used EV rebate may be going away, locally things are looking pretty good. With money coming from a state government program, PG&E offers a tiered rebate program of $1,000 or $4,000, depending on income and eligibility. Even plug-in hybrids are eligible. Check out the program here. You may also be able to get a rebate for some home charging equipment.

The cons

But there is another side to buying a used EV. It is used, so be sure you check everything you can. Look at the condition of the tires (which can wear faster on EVs). Inspect all of the interior details. Drive it to see how it performs.

The big issues is the battery state of health. Has the car lost range? It’s not yet an exact science, but there is much research going on in the area. One company, Recurrent, has a data-based tool that could be helpful.

Remember, some technology on a used mode will be old–and not upgradeable. If you must have the latest tech, you may only find that on a new car.

Whichever path you choose, good luck!

What would you like to know?

I’ve now been writing about EVs and electrified vehicles for several months in Currents. There is so much information out there and so many subjects, I wanted to ask what you, the Currents readers, want to hear about? Do you have questions about EVs or what life with an EV is like? Send your questions and story suggestions to kmcoates@gmail.com.   

About the author 

Michael Coates is an internationally recognized expert on automotive environmental issues. He publishes the Clean Fleet Report (https://cleanfleetreport.com/), writes for a variety of publications and also consults in the automotive industry.