Why Buying a Used Electric Vehicle Makes Sense

Introduction

With vehicle prices on the rise, affordability has become a top concern for car shoppers. If you're looking to keep your transportation costs low while embracing sustainable technology, a pre-owned electric vehicle (EV) might be the perfect solution. In this article, we’ll explore five compelling reasons why buying a used EV could be a smart financial and environmental decision.

2023 Audi Q4 Sportback e-tron

$39651

electric

14310 mi

Good Deal  

0 (5)

2008 Tesla Roadster

$180000

electric

33000 mi

Good Deal  

0 (5)

2023 Jaguar I-PACE

$79999

electric

43 mi

Good Deal  

0 (5)

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1. Lower Purchase Price

New cars are expensive, with the average price hovering around $48,000. Even used gas-powered vehicles average around $30,000. However, recent model-year, low-mileage electric vehicles like the Nissan Leaf, Kia Soul EV, Fiat 500e, and Volkswagen e-Golf can often be found for as little as $15,000. This significant price difference makes used EVs an attractive option for budget-conscious buyers.

2. Lower Fuel Costs

Electricity is generally cheaper than gasoline, making EVs more cost-effective to operate. According to the U.S. Department of Energy, driving an EV can cost about half as much as driving a comparable gasoline-powered vehicle. On average, EV drivers pay $1.22 to travel the same distance that a conventional car can cover on one gallon of gas.

When gas prices spike, the savings from driving an EV become even more pronounced. This is especially true in cities like Los Angeles or New York, where gas prices are often higher than the national average.

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3. Lower Maintenance Costs

Electric vehicles have fewer moving parts than traditional gas-powered cars, which translates to lower maintenance costs. According to a Consumer Reports analysis, EV owners spend significantly less on repairs and upkeep compared to owners of gas-powered vehicles.

Marse Kingsberry, a 2019 Nissan Leaf owner, shared his experience: “I’ve driven nearly 50,000 miles, and the only maintenance I’ve needed was replacing the cabin filter, windshield wipers, and occasional tire rotations.” Kingsberry added that the cost savings and reduced maintenance time have convinced him to stick with electric vehicles for his next car.

Mercedes Benz EQE

$102310

electric

12 mi mi

Very Good Deal  

0 (5)

2024 Honda Prologue

$40948

electric

2943 mi

Very Good Deal  

0 (5)

2025 BMW i4 xDrive40

$66295

electric

9 mi

Fair Deal  

0 (5)

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4. Tax Credits and Incentives

Starting January 1, 2023, buyers of used electric vehicles that are at least two years old and priced under $25,000 may qualify for a federal tax credit of up to $4,000. While this credit doesn’t reduce the upfront purchase price, it can provide significant savings when filing your taxes.

For more details on federal EV tax credits, check out our comprehensive guide on the topic.

5. Expanding Charging Infrastructure

Range anxiety—the fear of running out of battery power—is a common concern among potential EV buyers. However, the charging infrastructure is rapidly improving. As of February 2023, there are over 130,000 public charging stations across the U.S., and the White House has announced plans to expand this network further.

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Tesla has also committed to opening a portion of its Supercharger network to non-Tesla EVs, while companies like Starbucks, Subway, and 7-Eleven are installing chargers at their locations. These developments make it easier than ever to charge your EV, whether you’re running errands or embarking on a cross-country road trip.

Conclusion

Buying a used electric vehicle can be a smart financial decision, offering a lower purchase price, reduced fuel and maintenance costs, and potential tax credits. With the charging infrastructure expanding rapidly, the convenience of owning an EV is only set to improve. If you’re considering making the switch to electric, now is a great time to explore the benefits of pre-owned EVs.

Mercedes Benz EQE

$102310

electric

12 mi mi

Very Good Deal  

0 (5)

2024 Honda Prologue

$40948

electric

2943 mi

Very Good Deal  

0 (5)

2025 BMW i4 xDrive40

$66295

electric

9 mi

Fair Deal  

0 (5)

See More

Frequently Asked Questions

How Long Do Electric Vehicle Batteries Last?

Most EV batteries are designed to last between 8 to 15 years, depending on usage and maintenance. Many manufacturers offer warranties of up to 8 years or 100,000 miles.

How Long Does It Take to Charge an Electric Vehicle?

Charging times vary based on the charger type and vehicle model. Level 1 chargers (120V) can take 8-20 hours, Level 2 chargers (240V) take 4-6 hours, and DC fast chargers can provide an 80% charge in 30 minutes or less.

How Much Does It Cost to Charge an Electric Vehicle?

On average, it costs between $0.10 to $0.30 per kWh to charge an EV. For a full charge, this typically translates to $5 to $15, depending on the vehicle’s battery size.

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