The Expert Podcast

Is now the time to buy a used electric vehicle? According to this article, used EVs are a great deal because of the depreciation that's happened in the new car market. Hertz recently dumped a bunch of them onto the market. For example, some of these cars, like the Porsche Panamera — originally a $100,000 car — are now selling for $30,000 to $40,000. This means there are many very expensive EVs in the used car market that are actually pretty good deals right now.

Just make sure you get a good checkup on the battery to ensure it's in good condition and that it matches your lifestyle. The deal of the century might be a used EV, as long as you have a solid charging plan. It's crucial to know you can access charging stations in enough places to get you where you need to go. If you're just commuting back and forth to work, you're probably in good shape. Also, make sure the vehicle's range capacity matches your driving habits.

The most important thing before you buy is to get a thorough EV battery checkup. Ensure the battery is balanced, with no dead cells, as the battery can be expensive to repair. While most are under warranty, dealing with a car that's out of commission can be inconvenient if the battery fails. Make sure the battery is in good shape before pulling the trigger on a used EV, even if the price seems like a steal.