Should I buy a used electric car?

Miami Herald

2 days ago

The market for new electric vehicles has softened in the past year and likely will remain weak for a while as EV makers and their customers adjust to the dramatic shift in federal policy toward clean vehicles. That shift includes the pending abolition of federal tax credits that make EVs more affordable for consumers and the reduction or termination of many of the credits, loans and grants that made it economically beneficial for manufacturers to develop them.
But that's not bad news for those looking for affordable late-model used cars and trucks that are fuel-efficient, loaded with features, easy and cheap to care for, and priced to move.
Used electric vehicles can fill all those needs and more, and there are plenty to be had. They account for about 2% of the used car market today, said Ivan Drury, director of insights for Edmunds, and that number should swell in the next few years, creating a mini glut that results in fairly low prices even for luxury and performance EVs that sold for $100,000 and up when new.
Leased vehicles provide the steadiest stream of low-mileage late-model cars and trucks to the used market. Since 2022, when EV leasing rates were unusually low, well over half of all new EVs have been leased, Drury said, topping 66% over the past 12 months. 'We should really see a remarkable uptick in the number of off-lease EVs coming into the market starting in 2026,' he said.
Used electric vehicles can make a lot of sense for a lot of reasons - including that new EVs have become more expensive than ever as federal tax credit eligibility dries up.
But a used electric car isn't the best choice for everyone. Older models don't deliver much range, and old or newish used EVs, like new ones, can present charging challenges some consumers just don't want to deal with.
Edmunds shares a few reasons you might - or might not - want to buy a used electric vehicle.
PRO: Used EVs tend to be in better condition than gas-powered cars. EVs have fewer moving parts than traditional cars, so there isn't a whole lot that can break down. Plus, the major battery components will have an eight- to 10-year warranty (varies by manufacturer). And if you want even greater peace of mind, take a look at certified pre-owned electric vehicles, which come with extra warranty coverage, lower interest rates for financing, and other benefits such as roadside assistance or loaner cars for luxury brands. In general, you might find that used EVs will have fewer miles on the odometer relative to gas-powered cars of the same age, which means they've had less wear and tear on the brakes, tires and suspension as well as on expensive-to-repair items such as the upholstery and air-conditioning system. This is the silver lining of their more limited range - people often just don't drive them that much.
PRO: Used electric cars need less maintenance than gas-engine cars. EVs also require less regular maintenance. The Nissan Leaf, for example, requires only a tire rotation and brake fluid and cabin filter replacement in its third year. Ford says that routine maintenance for its all-electric Mustang Mach-E will cost about $760 over the first five years or 75,000 miles, compared to nearly $1,600 for a similarly sized gas-powered Escape SUV. The Mach-E's maintenance schedule is pretty simple. In addition to typical system inspections and replacement of parts that wear out (brakes, windshield wipers and tires), it needs a tire rotation every 10,000 miles, a cabin air filter at 40,000 miles and then at 20,000-mile intervals, and a battery coolant change at 200,000 miles. That's it. EVs have no spark plugs, oil or timing chains to change, and almost all have only a simple single-speed gear-reducer instead of a complex multi-speed automatic or (fewer and fewer each model year) manual transmission to maintain. And EVs' regenerative braking systems use the electric motor to do a lot of the slowing down, so the mechanical brakes don't need new pads or shoes as often.
PRO: You'll get a smoother driving experience. Since an EV does not have an internal combustion engine, it's smoother and quieter and vibrates less than a gas-powered vehicle. Affordable conventional cars with four-cylinder engines tend to feel coarse and lack refinement when driven back to back with an EV. Also, the added weight of the EV's battery, which is low in the structure, tends to make the car feel more planted on the road. There's also a bit of a fun factor. Electric motors deliver all of their torque - the force that gets a big, heavy vehicle moving - immediately, while internal combustion engines need a little time to ramp up to full torque. So most EVs (some are tuned to tamp this down) offer instant and rapid acceleration that conventional vehicles with similar power ratings can't match.
PRO: They're better for the environment. Unlike a gas-powered car, an EV does not produce tailpipe pollutants that contribute to global warming. If your local power plant uses renewable energy to produce the electricity for your EV, there's no pollution from that source either. Even the assertion that an EV hurts the environment as much as a regular car when it draws electricity from a coal-powered plant has been largely disproved. EVs do have a slightly greater carbon footprint when they are built due to their complexity, but a study from the Union of Concerned Scientists found that 'Battery electric cars make up for their higher manufacturing emissions within 18 months of driving - shorter-range models can offset the extra emissions within six months - and continue to outperform gasoline cars until the end of their lives.' But if you're buying a used electric car, the latter is no longer a factor.
PRO: You may have carpool lane access. Congress hasn't acted yet to renew single-occupant carpool lane access for EVs, and the current authorization expires on Sept. 30, 2025. But until Congress acts or access expires, a number of states allow you to drive an EV solo in the carpool or high-occupancy vehicle (HOV) lane, and the lane access stickers are usually transferable to the next owner. This can be a real game-changer in heavy traffic.
PRO/CON: Bargains are out there, with a caveat. You'll find that earlier electric vehicles, such as the original Nissan Leaf, Ford Focus EV, Kia Soul EV, Chevrolet Spark and Fiat 500e, will be inexpensive and can make for a bargain commuter car, but there's a reason those prices tend to be low. The EPA range on those early EVs was typically between 75 and 115 miles when they were new, and their real-world range is likely less now due to battery degradation - more on that below. Most people aren't comfortable with those smaller range figures, especially if they don't have a charger on the other end of their trips, which would effectively cut their range in half. But if you can make peace with the limited range, or have a second car for longer trips, these cars can make for a great daily driver on the cheap. They can also provide decent transportation for teen drivers with the added benefit of limiting how far from home they can wander on a Friday night.
PRO: Used electric vehicles are cheaper than in the past. Just a few years ago, used cars - including EVs - were in high demand because of a new-car shortage brought about by a global semiconductor shortage. The resulting run on used cars drove prices up, and the high cost of gasoline at the time put even more upward pressure on used electric car prices. Today, though, there's a bigger used car supply that includes a greater variety of late-model used EVs in the market, along with a tax credit of up to $4,000 for used EV purchases. That credit, though, was killed in the new federal budget bill and will expire on Sept. 30, 2025. Another factor pushing prices down is that EVs are not yet universally accepted in the U.S., which means their resale values are lower than for conventional used cars with the same levels of features and have remained relatively stable despite the surge in used car prices during 2022.
According to Edmunds data, the trade-in values of a 3-year-old Chevrolet Bolt and Nissan Leaf are approximately 43% and 36%, respectively, of their original MSRPs in 2022. Back in 2022, a 2020 Bolt had a trade-in value of about 82% of its original MSRP, while a 2020 Leaf retained 65% of its original value. Today, according to Edmunds data, the average 2022 model year electric vehicle maintains between 40% and 45% of its original value versus a retained value of almost 64% for 3-year-old conventional vehicles.
While not great news for those who bought an EV then and are now looking to sell or trade it in, the lower residual values for late-model electric cars make for good deals in the used EV market. For example:
A 2022 Mercedes-Benz EQS sedan with a $116,388 MSRP when new has a current trade-in value of just $39,828, or 34.3% of its original value.A 3-year-old Ford F-150 Lightning is now worth $37,800, or just under 47% of its original $80,955 MSRP.A Hyundai Ioniq 5 electric crossover with an MSRP of $50,338 when new in 2022 has a trade-in value today of $22,205, or 44% of its original value.A 2022 Tesla Model 3 Long Range All-Wheel Drive with an MSRP of $57,990 in 2022 is worth just 37% of that - $22,677- today.
CON: Possibility of diminished battery performance. Anyone who's owned a device with rechargeable batteries - from laptops and smartphones to power tools and toys - has seen its performance fade over time. The same thing can happen to electric vehicles and is especially pronounced in some of the early models. The chemistry lesson will be skipped, but suffice it to say that as EV batteries age and have been subjected to thousands of recharging sessions, you may see reduced performance and range. Driving in high temperatures, repeatedly charging to maximum capacity, and draining the battery to a very low level all take their toll.
A degraded battery could mean that the EV won't achieve the EPA-estimated range it once had. And because EV acceleration depends on how much juice the battery can deliver when the accelerator is pushed to the floor, the super-quick launches EVs are known for can get slower with the passage of time.
Vehicle data company Geotab estimates that batteries in EVs built before 2020, on average, degrade by 2.3% every year. Most EVs can operate at acceptable levels of range and performance until their batteries lose about 30% of capacity, so those earlier models typically have a 13- to 15-year useful lifespan before a battery replacement is needed.
But newer models, thanks to improvements in battery management, cooling systems and battery chemistries, are aging more slowly - degrading about 1.8% a year, according to the most recent Geotab report. That means they can deliver 17 years or more of useful performance. That's longer than the average lifespan - 14 years - of the average car in the U.S.
A big factor in battery life is heat, and EVs with liquid-cooled battery packs tend to have longer useful lives than those - like the first- and second-generation Nissan Leaf - with air-cooled packs. The earliest Leafs, from 2011 through 2013, are notorious for severe battery degradation, meaning annual degradation rates were much faster than the average. Some lost half their range in less than a decade. Other air-cooled EV models found in the used car market include the Hyundai Ioniq EV sedan sold from 2019 through 2021 and the BMW i3 sold from 2013 through 2022. Not all air-cooled systems are as ineffective as those in the early passively cooled Leafs, though, and there have been fewer issues with those. The i3, for instance, pumps air chilled by the AC compressor through the pack, preventing the kind of degradation experienced by early Leafs.
Overall, though, battery performance in EVs has improved almost yearly and liquid cooling is now almost universal. While Nissan Leaf models through the 2025 model year still have air cooling, the system was greatly improved after 2017. And even Nissan is turning to liquid cooling, using it for the Ariya EV introduced in 2023 and promising it for the third-generation Leaf in 2026.
Battery fade - or degradation - can also be an issue in EVs that live their lives in extremely hot climates, as even liquid cooling can't entirely overcome the impact of above 100-degree temperatures for weeks on end in places such as Phoenix. Nissan, for instance, originally told Leaf buyers in 2011 that their cars' batteries would still deliver 80% or more of the EPA-estimated range after five years. But following a series of complaints from customers in Arizona, the company lowered its five-year battery capacity estimate to 76% for the Phoenix area market. Nissan ended up changing its battery chemistry for the Leaf in 2013, which made the battery more resistant to warmer temperatures. The Leaf community has nicknamed it the 'lizard' battery.
CON: The charging factor. Do you have a place to charge an EV? Is the circuit rated at 240 volts with sufficient amperage to handle the charging device you'll need? Is the wiring in your home old? Do you plan on taking long road trips?
If you've got a place to install a charger - many condo and apartment dwellers don't - you'll likely need to hire an electrician to prepare your home for an EV. The charging station itself can range from under $300 to more than $1,000 before installation, depending on the brand and features. Installation costs can vary tremendously based on electrician labor rates and the extent of rewiring required. This cost can range from a few hundred dollars to several thousand, according to Qmerit. If installation costs are on the high end, setting up your home for charging could eat away at the potential savings of owning a used EV.
You can, of course, trickle charge an EV on a conventional 120-volt line, but that won't work well for those who tend to drive long distances every day and who don't want to or can't use a commercial charging station. It can take 24 hours or more to fully recharge an EV using a 120-volt circuit, versus 6 to eight hours for most EVs on a 240-volt, or Level 2, charger.
If you plan on making do with public chargers, make sure you look into the pricing for the stations you intend to use. Some stations charge by the hour as opposed to the kilowatt-hour, and some levy a user fee along with the charge for electricity. Some chargers in shopping and business campus parking complexes charge the full daily parking rate on top of the electricity charge. It can add up to a sizable expense over time.
Finally, road trips in older EVs can be a chore. Many aren't capable of taking advantage of the high-power capabilities of modern DC fast chargers, so while the new Hyundai Ioniq 5 next to you is in and out in 18 minutes, that 2022 Chevrolet Bolt you just bought will need to be plugged in for 45 minutes to an hour to get topped up to 80% of its battery capacity.
Charging past 80% on a DC fast charger isn't recommended because it builds up a lot of heat that the charging system combats by slowing down - that last 20% can take as long as the first 80%.
Older EVs' lower range per charge combines with the 80% charging limit to make longer trips impractical for anyone with time constraints. That 2022 Chevrolet Bolt was rated at 247 miles when new and should still be delivering at least 235 miles in 2025. But if you are traveling and can only recharge to 80%, you'll be stopping for an hour at a time every 190 miles or so to top up.
CON: Outdated technology. If you commit to buying a used electric car and keeping it for a few years, you'll have to come to terms with the fact that its key technology offerings may soon become outdated. The software may be missing features like Apple CarPlay and Android Auto, or it may simply be less user-friendly than newer versions. Information screens are likely to be smaller than those commonly offered in today's EVs. And then there are the range issues with older electric cars, as noted above. The 2015 Nissan Leaf, for example, had an EPA-estimated 87 miles of range. By contrast, the 2022 Leaf has a range of 215 miles with the larger optional battery. The Tesla Model 3 was offered in two models when introduced in 217 - one with 220 miles of range, the other with 310 miles. The lowest range for a 2025 Model 3 is 298 miles, the highest is 363 miles.
PRO: Simpler infotainment systems. A growing complaint about new cars in general and new EVs specifically is that because they are so software-dependent, many of their controls - things that used to be activated with a real button or dial - have been incorporated into their infotainment systems and often must be activated by scrolling through multiple pages on the vehicle's touchscreen. In the Cadillac Lyriq and Polestar 3 EVs, even the gloveboxes are opened via a touchscreen icon - there's no physical latch. The need to use a touchscreen so often can cause driver distraction. In older EVs, the electronic control systems weren't as developed, so there still are plenty of physical controls and less reason to take your eyes off the road to glance at a screen while driving.
CON: Battery life uncertainties. Modern electric vehicles (dating from that first Nissan Leaf, a 2011 model) haven't been out long enough to accurately judge how long their batteries will last. There have been relatively few failures from normal operation reported, but if you're the second buyer, you may not know the car's charging history and the effect that's had on the battery. It is always wise, when possible, to get a battery checkup before purchasing a used EV - most dealerships that sell electric vehicles have the necessary test equipment, as do independent garages that work on EVs.
PRO: Decent battery life warranties. If the EV's battery flat-out fails, however, you may have recourse. Even if the car is out of its basic warranty period (typically three years), the battery is covered under the federally required warranty for eight years or 100,000 miles. Four brands offer 10-year warranties on their EV batteries across the entire U.S. - Hyundai, Kia, Genesis and VinFast. Mercedes-Benz offers a 10-year battery warranty for its EQE electric crossover and EQS electric sedan, but only an eight-year warranty for its EQB crossover's battery. Tesla covers its batteries with an eight-year warranty, but the max number of miles varies by model.
Many manufacturers offer more than a minimum 100,000 miles of warranty coverage during the eight-year period, and most, but not all, cover battery degradation as well. Degradation is the loss of charging capacity and, subsequently, range. The norm for those that offer this type of coverage is that the battery is guaranteed to retain at least 70% of its capacity at the end of the eight-year warranty period. But a few - Cadillac, Chevrolet, Nissan, Honda and Lexus - guarantee 75% of capacity. California and the states that use California's zero emissions vehicle rules will adopt the 75% capacity rule as of the 2026 model year. If your car's maker does provide that coverage, capacity loss must fall under the stated threshold to be covered. If the manufacturer doesn't cover capacity loss, the battery must stop functioning altogether for the warranty to kick in.
The general consensus for the lifetime of an EV battery is roughly 15-20 years depending on how old it is, how it was charged, and climatic conditions.
Summing up
Buying and owning an EV makes for a different kind of car experience. EVs have some strong pros and a few cons that you should consider carefully before you buy. But once you resolve how you'll charge it up, the purchase may well make sense. You won't spend a nickel on gas, and if you have the right setup, you won't spend much on charging either. You'll avoid many maintenance and repair costs that confront most used-car owners. In short, you can wring a lot of value out of a used electric car or electric SUV.
This story was produced by Edmunds and reviewed and distributed by Stacker.
© Stacker Media, LLC.