Whether you’re considering an electric vehicle because of gas prices or climate change, there has probably never been a better time to buy a used EV, despite that the Trump administration abolished the used clean vehicle tax credit last year. When we started this ongoing series looking at used EV options, the initial idea was to see what was available at bargain-basement prices. But today we’re looking at the $20,000–$25,000 bracket, and we’re firmly out of the basement, with thousands of EVs across the country to choose from.
If you’re only spending $5,000 on an EV, you’re looking at much older models with smaller batteries that never had that much range even when new. But at four or five times that sum, the net casts much, much wider. Buyers can start being a little choosy here, particularly as ex-lease cars begin filling dealership lots this year.
For those in the market, it helps that EVs face lower residuals than equivalent hydrocarbon-powered cars. All those incentives given to the original purchaser are passed along to future owners, but according to a Deloitte report, EV residuals are underperforming even more than expected. While I might expect most Ars Technica readers to see the potential, “many US consumers remain cautious about range, charge time, price, battery replacement cost, and public charging access,” says Deloitte. Changing that will require automakers and car salespeople to do a much better job explaining battery longevity and range, according to the consulting company.
The above isn’t great if you’re trying to sell an EV, but it’s good news if you’re in the market to buy one. You’ll get more car for the same outlay—a better spec, newer model year, or fewer miles already on the odometer versus spending the same money on something that needs gasoline.
A new price cap of $25,000 also means you can afford to start being picky about which badge the car wears: Do you want something mainstream, maybe with lower mileage, or perhaps something plusher or more premium?
