Overlooked, Underpriced, and Built to Thrill—These Cars Are Hiding in Plain Sight
But not all the good ones are gone.
We hunted for underrated enthusiast cars—models that still fly under the radar, despite offering impressive performance, unique styling, or just a ton of personality per dollar. Some are modern sleepers, others are forgotten classics, but all are still (mostly) attainable. Just don't wait too long—because once the crowd catches on, the prices will follow.
This list isn't about rare exotics or overpriced auction queens. We focused on cars that real enthusiasts can still buy and enjoy—models that offer a compelling mix of performance, style, or uniqueness, but haven't yet been fully embraced (or inflated) by the market.
We leaned on a mix of online classifieds, enthusiast forums, and auction data (like Bring a Trailer and Cars & Bids). Most of all, we relied on good old-fashioned car nerd intuition, our team's collective years of driving, modding, and obsessively browsing listings at 2 a.m.
If it's fun to drive, still relatively attainable, and unfairly overlooked? It made the cut.
As you may have guessed, Mazdaspeed3 is the performance version of the Mazda3. It packs a decent punch thanks to a turbocharged 2.3-liter engine that sends 263-hp to the front wheels via a 6-speed manual.
Edmunds compared the MazdaSpeed3 to the Mitsubishi Evo and Subaru WRX, two of the most iconic heavyweights in the JDM performance car game.
Why It's Overlooked: FWD torque steer and interior quality kept it from earning the same cachet as AWD rally heroes like Evo and WRX.
If you want more space than the MazdaSpeed3 offers, its bigger sibling, the MazdaSpeed6, may be the perfect choice. It also uses a turbocharged 2.3-liter 4-cylinder unit, but its 274-hp is sent to all four wheels via the 6-speed manual.
Only the initiated can tell there's something special hiding underneath its sleeper body. Once the lights turn green, it'll launch to 60 mph in just 6.2 seconds and has a 150mph top speed. We're surprised that not more gearheads are buying the MazdaSpeed6. It may not be as exciting as the Mitsubishi Evo or Subaru WRX, but it's probably more dependable than both, and they're available for a fraction of the price.
Why It's Overlooked: Despite real performance chops, its subtle styling and sedan shape made it easy to miss next to flashier rivals.
The Chrysler Crossfire might look like a concept car that accidentally made it to production, and honestly, that's part of its charm. Built during the DaimlerChrysler era, the Crossfire borrowed heavily from the Mercedes-Benz SLK320, sharing its platform, V6 engine, and even many interior components. But its wild, fastback styling and boat-tail rear end were all Chrysler.
The standard Crossfire had a 3.2-liter V6 making 215 horsepower, but the real fun lies in the SRT-6, which added a supercharger for 330 hp and serious performance—0–60 in the mid-5-second range. It's essentially a Mercedes in American clothing, often priced far lower than its German cousin.
Why It's Overlooked: People didn't know what to make of it—part German engineering, part retro-futuristic styling. But for what it costs today, the Crossfire is a bizarre, badge-engineered bargain.
At first glance, the original Lexus IS300 looks like just another early-2000s luxury compact sedan. But under the hood? Toyota quietly dropped in the legendary 2JZ inline-six—the same engine family that powers the iconic Mk4 Supra. Sure, this version wasn't turbocharged, but the potential is still there.
Rear-wheel-drive, bulletproof reliability, and a clean, understated design make it one of the best hidden gems of the early 2000s. Manual versions were rare (and highly desirable), but even the automatics are a blast with the right mods. The drift crowd has known its value for years, but the IS300 is still criminally overlooked outside that niche.
Why It's Overlooked: Overshadowed by its more famous sibling and often dismissed as just another luxury compact.
Honda sold the Prelude over five generations from 1978 to 2001. It was the brand's flagship model, and the last two generations packed all of Honda's fanciest tech.
Still, it was never as popular as certain other Japanese sports coupes. That's good news, though, as buying one for extraordinarily little money is possible. We'd either go for the third-generation with its cool pop-up headlights or the fifth and last generation with plenty of power and excellent driving dynamics.
Why It's Overlooked: Always the bridesmaid to the Civic and Integra when it came to tuning culture and track cred.
If you've never seen a Buick Reatta, you're not alone fewer than 22,000 were ever built. This front-wheel-drive personal luxury coupe (later offered as a convertible) was hand-assembled and packed with ahead-of-its-time features, including a touchscreen interface on early models and a fully digital dash.
While it's not a canyon carver, the Reatta offered a smooth ride, respectable V6 power, and a level of design ambition rarely seen from Buick in the late '80s. Think of it as a tech-forward alternative to the Eldorado or Riviera, with far more exclusivity.
Why It's Overlooked: When new, it didn't exactly set hearts racing, and its unusual place in Buick's lineup confused buyers. But as a quirky, comfortable cruiser with a dash of retro-futurism, it's aging better than many remember.
Fiat's 124 Spider is built on the same platform as the latest Mazda MX-5 Miata, so you know it'll be fun to drive. Mazda used a naturally aspirated 2.0-liter engine, while Fiat used the turbocharged 1.4-liter engine from the 500 Abarth.
That decision, perhaps combined with Fiat's less-than-perfect reputation for reliability, means it's not as popular as its Japanese cousin. However, that little 1.4-liter is very tunable. Abarth extracted 180-hp from it, and that was with a factory warranty.
Why It's Overlooked: Fiat's shaky reliability reputation and unusual engine choice kept it in the Miata's shadow.
The Pontiac G8 GT is one of those cars that didn't get the recognition it deserved when new, but it's aged into something special. Underneath its understated four-door body is a genuine rear-wheel-drive performance sedan powered by a 6.0-liter LS V8 making 361 horsepower. That's Camaro SS power in a family-friendly package.
Built on GM's Australian Holden Commodore platform, the G8 GT handled better than most American sedans of its era and came standard with a 6-speed automatic (a 6-speed manual was reserved for the GXP variant). It was Pontiac's last hurrah—and most people missed it. Today, it's one of the few modern V8 sedans that still fly under the radar, especially compared to the prices of newer CTS-Vs or Chargers.
Why It's Overlooked: It wore a Pontiac badge in an era when the brand was fading fast. But the G8 GT was a genuine muscle sedan hiding in plain sight.
Toyota has built seven generations of the Celica, and the last one is actually the most affordable, at least compared to the turbocharged models. Car enthusiasts seem to either love or hate the seventh-gen Celica, primarily because of its divisive looks.
In GT-S spec, it packs a 2ZZ 1.8-liter engine with close to 200-hp. In fact, the same engine was used in the Lotus Elise. The Celica is an excellent sports coupe if you can look past its exterior design and don't mind driving an FWD car.
Why It's Overlooked: FWD layout and edgy styling split the fanbase, especially as the tuner crowd moved toward AWD and RWD platforms.
Before Nissan revived the Z nameplate with the 350Z, it quietly debuted the same bones under the Infiniti G35 Coupe. With a 3.5-liter V6 sending power to the rear wheels, a slick 6-speed manual available, and styling that still holds up, the G35 Coupe delivered legitimate performance with luxury trimmings.
It's not exactly a secret anymore, but the G35 Coupe is still surprisingly underappreciated in enthusiast circles, especially when compared to its Nissan sibling or newer rivals. With prices still hovering in accessible territory, it's one of the best RWD coupes from the early 2000s.
Why It's Overlooked: It wore a luxury badge during an era when import enthusiasts were chasing tuner cred. But today, the G35 Coupe stands out as a stylish, balanced, and well-rounded alternative to both the 350Z and BMW's E46.
The Subaru SVX boasts one of the most distinctive designs of the 1990s, a testament to its bold styling. Crafted by the renowned Italian designer Giorgetto Giugiaro. The SVX features a sleek, aerodynamic profile complemented by unique "window-within-a-window" side glass. This aircraft-inspired design element evokes comparisons to the Lamborghini Countach's iconic windows, offering a futuristic flair that sets the SVX apart from its contemporaries.
Less than 20k units were sold in the U.S. between 1992 and 1997, making the SVX a rare sight on today's roads.
This limited production and its unique design have led to a growing interest among collectors. While prices are beginning to rise, diligent enthusiasts can still find well-maintained examples at reasonable prices. However, potential buyers should be aware that certain parts, especially those unique to the SVX, can be challenging to source due to the vehicle's age and limited production run.
Under the hood, the SVX is powered by Subaru's largest-ever engine at the time: a 3.3-liter EG33 flat-six producing 230 horsepower and 228 lb-ft of torque. Paired with a 4-speed automatic transmission and Subaru's signature all-wheel-drive system, the SVX delivers a smooth and confident driving experience. Inside, it offers a range of '90s-era luxury features, including leather seating, power accessories, and a premium sound system, positioning it as a grand tourer that dares to be different.
Why It's Overlooked: Its quirky styling and high curb weight made it a niche oddity, not a mainstream sports car.
Mercedes-Benz introduced the first-gen SLK in 1995, and by the time production ended in 2004, over 300,000 units had been sold. It's fair to say that its looks are a bit dated now, and that's probably why it's not as popular as it once was.
The SLK was one of the models that pioneered the folding metal roof, so it's not as bad for winter use as many other convertibles. Supercharged 2.3-liter models can be found for under $10,000; even the 3.2-liter AMG is available for less than $15,000.
Why It's Overlooked: Early models prioritized comfort over sharp handling, and the looks have not aged as gracefully as the badge suggests.
The BMW Z3 offered a range of engines from 1.8 to 3.2 liters. The 1.9-liter four-cylinder variant, producing between 118 and 140 horsepower depending on the model year, is often described as "underpowered" by enthusiasts. In automotive terms, "underpowered" refers to a vehicle's limited acceleration and top speed capabilities compared to its peers. For instance, the 1.9-liter Z3's 0-60 mph time is approximately 8.2 seconds, whereas the 2.8-liter six-cylinder version achieves this in about 6.2 seconds, as reported by Kelly Blue Book. Other outlets have the 1.9-liter pegged slower.
This performance gap is noticeable when comparing the Z3 to contemporaries like the Mazda MX-5 Miata. While the Miata's 1.6-liter engine produces around 115 horsepower, its lighter weight allows a spirited driving experience. The Z3 1.9, being heavier, doesn't offer the same level of agility, leading some drivers to prefer the six-cylinder variants for a more dynamic performance.
However, it's essential to note that many Z3 1.9 owners appreciate the model for its balance and handling characteristics. The lighter engine contributes to a more balanced weight distribution, enhancing the car's nimbleness on winding roads. As one enthusiast noted, "Around town or on twisty roads it's just amazingly good fun and in no way underpowered so long as you keep the revs up.
Why It's Overlooked: Base four-cylinder models felt underpowered, and the roadster's retro styling wasn't everyone's cup of tea.
The Ford Probe was originally intended to be the next-generation Mustang until passionate backlash from enthusiasts forced Ford to rethink that plan. And thank goodness they did, because the Probe, with its front-wheel-drive layout and Japanese underpinnings (thanks to a partnership with Mazda), was quite a different kind of car.
That said, the Probe wasn't a bad enthusiast car, especially the GT model with a 2.5-liter Mazda-sourced V6. It was nimble, reasonably quick, and looked the part of a '90s sports coupe. Unfortunately, its awkward name and Mustang-alternative baggage kept it from gaining widespread love. Today, it's an overlooked bargain with potential, assuming you can find one that's been cared for.
Why It's Overlooked: FWD layout and awkward name turned off muscle car purists, and it never escaped its almost-a-Mustang reputation.
When it debuted in the early 1980s, the C4 Corvette was a technological leap for American sports cars. With its digital dash, sleek wedge styling, and impressive handling for the era, it became the dream car for a generation of enthusiasts.
It gets overlooked today partly because the C5 and C6 offer more modern performance, and partly because the styling screams '80s. But that's exactly the charm. Packing classic small-block V8 power, a driver-focused cockpit, and plenty of upgrade potential, the C4 is a retro performance bargain that finally gets the respect it deserves. Clean examples can still be found for reasonable prices, but don't expect that to last forever.
Why It's Overlooked: The boxy styling and dated interior don't scream 'dream car' to younger buyers, and it's long lived in the shadow of the more modern C5 and C6.
When Ford introduced the original Ford Taurus SHO (Super High Output) sedan in 1989, it featured plenty of performance upgrades over the regular model. The most important of them all was the Yamaha-built V6 DOHC engine.
The SHO was so performance-oriented that it wasn't even initially available with an automatic transmission. With 220-hp, it could reach 60 mph in roughly six seconds and had a top speed of 143 mph.
Why It's Overlooked: A fast family sedan with anonymous styling and a badge better known for rental cars than redlines.
At first glance, the Volvo C30 T5 may not look like much, but we all know that looks can be deceiving.
Open the hood, and you'll see the turbocharged 2.5-liter inline-five engine. While it only delivers 217 hp and 240 lb.-ft of torque in stock form, it has lots of untapped potential. This is the same engine found in the Ford Focus ST and RS models; owners have extracted over 1,000 hp from them!
Why It's Overlooked: Hot hatch performance wrapped in sensible Swedish design, too mature for the tuner crowd, too oddball for everyone else.
Many gearheads overlook the Kia Stinger, probably because the brand's past consisted of cheap, underpowered cars with questionable build quality.
The Stinger is a proper sports sedan with a range of turbocharged engines, including a 365-hp V6 unit. The Koreans have 'stolen' some of the best engineers from Audi and BMW's performance divisions, so the Stinger certainly delivers exciting driving dynamics. As a bonus, they even have some of the best warranties.
Why It's Overlooked: Despite its capabilities, the Stinger wore a badge few took seriously, especially in the performance segment.
Performance purists have long dismissed Hyundai, but the Veloster N proves that times have changed. Again, it's a brand with a questionable past, which still affects it today.
Hyundai's performance division, N, fine-tuned the Veloster, and its turbocharged four-cylinder engine produces a decent 275-hp. While it won't set the world ablaze, it's a fun hatchback that's the perfect companion during a spirited drive on your favorite backroad.
Why It's Overlooked: A great car hampered by its brand's past and a body style some found more polarizing than practical.
These cars might not dominate auction headlines or rack up millions of views on YouTube, but that makes them special, for now. They're the kinds of cars you buy because you love how they drive, not because someone told you they're a 'smart investment.'
But that doesn't mean they won't appreciate. Prices will follow as more enthusiasts wake up to what these machines offer. So, if one of these underrated gems speaks to you, don't wait. Buy it, drive it, and enjoy getting in early—while you still can.
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USA Today
26 minutes ago
- USA Today
Mysterious 1955 Chrysler Falcon concept car makes rare appearance. Is it the only one left?
A lovely and legendary car shrouded in mystery, the 1955 Chrysler Falcon made a rare public appearance Sunday, Aug. 17, at the Pebble Beach Concours d'Elegance classic car show in California. The elegant Falcon was conceived to elbow Chrysler into the spotlight shining on the new and exciting Chevrolet Corvette and Ford Thunderbird, graceful two-seaters drawing acclaim and buyers to Chrysler's crosstown rivals in Detroit. 'The car is significant as a window into what might have been if Chrysler had decided to match the Corvette and Thunderbird with a two-seater of its own,' said Matt Anderson, transportation curator at The Henry Ford museum in Dearborn, Michigan. 'The Falcon blended the sportiness of the Corvette with the personal luxury of the T-Bird quite well. 'Whether there was a market for that mix, we'll never know.' The Chrysler Falcon is part of the Bortz Auto Collection of concept cars preserved by enthusiast Joe Bortz. His cars are not permanently displayed anywhere, but make the rounds of leading museums and auto events. The Chrysler Falcon is unrelated to the 1960s Ford compact sedan of the same name. Off-the-shelf parts Chrysler styling lost its edge when it resumed passenger-vehicle production after World War II. Chairman J.T. Keller charged design chief Virgil Exner with revitalizing the brand. Exner enlisted Italian coachbuilder and designer Ghia to build what he called his 'idea cars.' The string of concept cars for Chrysler included the K-310, Norseman and Imperial Crown. They were one-off projects, show cars designed to fire the imagination, not for production and sale. 'The Falcon changed that,' Stellantis historian Brandt Rosenbusch told me. 'It was conceived to compete with the Corvette and Thunderbird, so it used off-the-shelf parts for easy production.' That included a shortened 1955 Chrysler 300 chassis ― 105 inches long, 11 inches less than the production sedan. Other production features included a Hemi V8 and power steering, brakes and windows. The car is drivable.'It's a stunning car. The proportions are perfect,' Bortz said. 'It's unusual for its time because it had so little chrome.' But committing to produce the low, graceful Falcon was too much to ask of a chairman who once declared every Chrysler's roof must be high enough that a gentleman could wear his hat while driving. The car never made it to the assembly line. Nobody's entirely certain how many Ghia's old-world workshop in Turin built. It was once believed Ghia built only one Falcon, but we know now there were at least two. Maybe three, according to a Ghia memo citing a build order from Chrysler. Where can I see the 1955 Chrysler Falcon concept? Somehow, they vanished Supporting the three-car theory, Chrysler archives have photos of Falcons in three different colors: 'There's a lot of guesswork,' Bortz said. The Falcon was first shown to the public in New York in August 1955, alongside Chrysler's Flight Sweep I and II concept cars. Nobody knows what happened to the Flight Sweeps. Many early concept cars were sold to private buyers and driven till they died. The Falcon lived on. Its grille inspired the 1998 Chrysler Chronos concept car and the sensational 2005 Chrysler 300. The car will be on the 18th fairway at Pebble Beach this year, one of several Exner cars that are part of a tribute to Chrysler's centennial. Bortz will display it with the convertible top up, a seldom seen configuration. 'Exner will always be remembered for the 'Forward Look' Chryslers of the late 1950s,' Anderson said. 'Those cars absolutely remade the company's image from old fashioned to cutting edge. 'The 1957 ad campaign said it best: 'Suddenly it's 1960!' 'While he didn't invent the tailfin, Exner employed it to greater effect than any of his contemporaries.' The Falcon 'was considered Exner's finest car,' Bortz said. 'He kept a model on his desk.' 1955 Chrysler Falcon at a glance Built in Turin by Carrozerria Ghia SpA Wheelbase: 105 inches Length: 182 inches Width: '68½ inches' Height: '51 1/8 inches' Engine: 'Special Chrysler Corp. V8 hemispherical combustion chamber Tires: 15-inch From Chrysler's description: Interior: Source: Stellantis archives Contact Mark Phelan: mmphelan@ Follow him on Twitter @mark_phelan. Read more on autos and sign up for our autos newsletter. Become a subscriber.

Miami Herald
20 hours ago
- Miami Herald
Should I buy a used electric car?
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.


Los Angeles Times
a day ago
- Los Angeles Times
You can now lease an EV for less than $100 a month
A Mercedes EQB starts at $53,000 in the US, but at the moment, the swanky SUV is one of the cheapest cars in the country. In July, Mercedes dealerships were leasing the EQB for $352 a month, including the down payment, more affordable than nearly every other car in the country, according to In fact, on a list of cheapest leases, the EQB is third, one of five EVs parked in the top 10 slots. Affordability, or the lack thereof, has long been a major stumbling block for electric vehicle adoption. But with a wave of deeply discounted offers, EVs on average are cheaper to lease than gas-powered cars. All told, the average EV lease works out to $624 a month (including a down payment), compared with $670 for internal-combustion cars and trucks, according to Edmunds. Though for certain cars at certain dealerships, bargain hunters can find a monthly payment below $100. 'I always hate to say 'it's unprecedented' with the auto industry, but we've never really seen anything like this,' said Kevin Roberts, director of industry analytics at CarGurus, an online listings platform. Indeed, car companies are offering screaming deals on battery-powered machines in a push to lock in loyal customers before losing federal tax credits of up to $7,500 per transaction at the end of September. The low prices are also intended to move a backlog before next year's models start rolling off assembly lines en masse. Much of the current inventory is made up of machines that were made before tariffs drove up their cost, so there's more room to discount while maintaining some margin. Leases now comprise nearly three out of four EV transactions and that's largely by design. Car dealerships and buyers alike realize that lease contracts have fewer restrictions when it comes to qualifying for federal subsidies. And for the wide swath of drivers who are both curious about and skeptical of EVs, a lease is far easier to swallow than an outright sale. 'Leasing is the least worrisome path to testing the waters on new technology,' said analyst Ivan Drury. 'People fear battery degradation, poor residual values and being stuck with outdated tech on an outright purchase; but with a lease, you side step all those concerns.' For auto executives, leases of 24 or 36 months offer a convenient way to move vehicles without cutting sticker prices. Dealers can also bake federal, state and local incentives into the lease deal. Hyundai Motor Co. is offering its Ioniq 5 for $260 a month after the down payment, while Volkswagen's ID.4 can be had for just $4 more. Honda Motor Co. Ltd. has gone a step further with a streamlined offer on the Prologue, its first EV: $4,800 for 24 months — $200 a month. Some local dealers are going a step further. Emich VW in Boulder, Colorado, which has a clock on its website counting down the seconds until the federal EV tax credits end, is advertising the ID.4 for $39 a month. Stockton Honda in Stockton, California, is offering a 24-month Prologue lease for $7,500, thanks to a stack of incentives from the carmaker and the government, which works out to $313 a month. The strategy seems to be resonating. Over the past two years, lease rates for electric vehicles have rocketed from 51% to 71%, compared with the industry average hovering around 16%, according to CarGurus, a listings platform that captures most of the cars on the US market, said EV transactions surged 44% from July to June, spiking after Trump signed the legislation to kill EV subsidies. Andy Small, a retired finance executive on Long Island, said he's not 'a lease guy' or 'a car guy,' but he checked both boxes when he got a new Hyundai Ioniq 5 in July. With a stack of about $15,000 in incentives, including the federal IRA credit, the machine was far more affordable than the hybrids he was looking at from Toyota and Volvo. 'The game changes October 1, so I wanted to get it while I could,' he said. 'And I absolutely love the car.' Nathan Niese, global lead for electric vehicles and energy storage at Boston Consulting Group, says the current wave of EV deals is a way for carmakers to lock in loyalty among customers. Once a driver goes electric, they seldom go back to gas. And leases are particularly useful in keeping a customer in-house — making them 'sticky' in sales-speak. 'There's never been a better time as an interested buyer,' Niese said. 'I am shouting from the rooftops to move now and it's not just because I drink the Kool Aid on EVs every day.' Come October, EV deals may be harder to find, though some states are moving to sweeten EV incentives. Already, some car companies are shifting some production away from electric vehicles. That said, there's a network effect working in favor of electric vehicles, as those who make the switch tell their friends and neighbors. Pricing in October is an unknown, according to Roberts at CarGurus, 'but I rarely come across anyone who has made the move to EVs and says 'I don't like them.'' And since it's still early days for EVs, car companies will still be trying to build a loyal base of buyers, so discounts may continue with or without federal tax credits. Ford Motor Co. on Tuesday unveiled a plan to release a small, electric pickup truck in 2027 for around $30,000, which Chief Executive Officer Jim Farley framed as a 'Model-T moment,' name-checking a Ford machine that made private automobiles both affordable and ubiquitous. 'Who is going to be able to profitably build sub-$40,000 vehicles that customers want,' Niese said. 'That is the more important long game that is being played here.' Stock writes for Bloomberg.