The Expert Podcast

Okay, you're not imagining things—used EV prices are really becoming attractive. Dealers are having a very difficult time selling used electric vehicles, mostly because the market is not demanding them, and there's a huge flood of them coming into the marketplace. A lot of people and companies, for that matter, who had purchased electric vehicles in the last three or four years are now looking to get rid of them. Hertz, Enterprise Rent-a-Car, and all the different fleet companies who have had electric vehicles are dumping them into the market, and these are perfectly good, low-mileage vehicles that are over-supplying versus the demand. So, dealers are having a tough time getting rid of them, and manufacturers are having a tough time with the resale value.

If you're in the market for a used vehicle—maybe not your primary vehicle or your first car, but a second vehicle or commuter car—you may want to look at some of these used electric vehicles to see if one might be worth having for what the prices are. The values are dropping very quickly compared to other cars. A lot of other cars are extremely expensive, and the prices are sometimes unaffordable for many, whereas electric vehicles might represent a better deal.

Tell us what you think in the comments about considering a used EV for a second vehicle or commuter car versus getting a gas vehicle. If the price was that much cheaper, would it be worth getting, especially since you might be able to plug it in at home and not have to go to a gas station?

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