Is the moment right to purchase a secondhand EV?

Although they are far less expensive than new EVs, used EVs are still often more expensive than used gas-powered cars. Cars.com reports that used EVs cost about $36,000 on average, while new EVs cost about $63,000 on average.

Furthermore, Carvana reports that the pricing difference between old gas- and electric-powered cars is fast closing. By the first quarter of 2024, the average difference between used gas-powered cars and used electric cars had dropped from $13,000 in the early months of 2023 to barely $7,000.

Additionally, the attractiveness of what is offered has grown. According to Rebecca Lindland, an industry analyst with Cars.com, EVs have advanced over time, so the models that are currently available for purchase are far superior to the very first EVs that would have been offered as used cars years ago.

“Given the advancements in technology, particularly in range and charging, it’s worth a revisit for those who may have considered an EV five years ago,” the speaker stated. “This is a significant change.”
Additionally, older EV batteries are holding up well, according to Recurrent, a business that monitors the condition of EV batteries. You can anticipate that the great majority of old EVs will go almost exactly as far on a charge as they did when they were brand new.

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