Should I buy a second hand electric car?

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Even though the electric vehicles cut C02 emissions and have lower average running costs, the global EV sales are still soaring at an inchmeal rate with each passing fiscal year.

Why so? Mainly because the electric-powered vehicles have a much higher upfront cost compared to the gas-operated ones. The best way out is buying a secondhand EV instead of new.

However, resale car buyers wonder if getting a used EV would be worth an investment or the biggest blunder of their life.

To help you out with this dilemma, we’ve compiled valid reasons in favor of pre-owned EVs. So, let’s scroll down and find out:-

Do batteries need to be replaced?

When it comes to pre-owned EVs, most are concerned about the battery, and why not? After all, the battery is an integral and most costly component of an electric-powered vehicle.

The one-word answer is that, yes, electric car batteries will eventually have to be replaced. However, unlike the conventional lithium batteries of the gas-powered cars, EV batteries can last well over a decade.

To better understand, the first best-selling electric vehicle model, Nissan Leaf, was unveiled in 2010, so that means even the earliest batteries required to swap with new now, a decade later. In case the EV batteries that have been prematurely exhausted will be covered by the warranty provided by the carmaker, as mentioned earlier last up to ten years.

What is the resale value of an electric vehicle?

The resale worth of EVs is typically below average. By and large, the plug-in hybrid and electric vehicles depreciate faster compared to the gas-powered ones. 

Although this isn’t welcoming news for those considering a new EV, this factor will motivate resale. However, the latest long-range electric vehicle models – from Tesla Motors and Chevrolet–Tesla Model 3 and Chevrolet Bolt respectively – are holding their value longer and better. 

So, if your budget allows, you can opt for a “nearly new” EV. 

Alternatively, you can discover the broadest collection of used electric cars for sale, including the top-selling models like Fiat 500E, Nissan Leaf, Ford Focus Electric, etc. In case your budget is up to $15,000, you can explore more variety and luxury brands such as Mercedes-Benz, B-Class, and BMW i3.

So, the whole idea is, with a pretty modest secondhand car budget, you can get a modern electric car having aesthetically appealing interiors with plenty of life left in it. Although you won’t receive a tax credit for purchasing a used EV, the resale price is generally on the lower side, so it hardly matters. 

Additionally, you’ll have gas money savings in your pocket.

A quick checklist when inspecting a pre-owned EV

  • Are the tires in good condition?
  • Do all the gauges work?
  • Do the steering and brakes feel responsive?
  • Does the used electric vehicle have a clean title?
  • Are there any disturbing noises coming from the suspension?
  • Does the overall condition of the interior seem to match the mileage on the odometer?
  • Has the car received its scheduled maintenance and service?

The final verdict…

There has never been a better time buying a used electric-powered vehicle than now. Yes, the technology and features are evolving for user comfort, but the charging stations have also proliferated in a big way. 

Means, you can wander around the world in your EV without worrying about getting stuck on a highway with a low car battery charging.

Also, as with any other type of vehicle, buying a pre-owned vehicle can save you a lot of money. Because the minute a car is driven, its value drops significantly. So, if you are in a market for used electric cars, this definitely benefits you.

As a matter of truth, EVs are the future. So, if you find a great bargain, grab it with both hands, and enjoy the benefits today.