Why Used EVs Are the Smartest Secret in Car Buying
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Explore the exciting trends in the used vehicle market, with a special look at how electric vehicles (EVs) are becoming surprisingly affordable and accessible.
Explore the exciting trends in the used vehicle market, with a special look at how electric vehicles (EVs) are becoming surprisingly affordable and accessible.
Key Highlights:
- High Demand for Used Vehicles:
- Prices are dropping, leading to increased demand.
- Used vehicles are now seen as a smarter alternative to expensive new cars.
- The EV Opportunity:
- Used EVs are a “best-kept secret” for affordable vehicles.
- Major price depreciation makes them dirt cheap.
- Government incentives offer a $4,000 tax credit for EVs two years old or older.
- Why It Matters Now:
- In 2023, there was a sharp increase in EV production.
- By 2025, many 2023 models will become eligible for tax credits.
- Hertz and other companies are dumping EV inventory, creating a surplus of affordable options.
- Examples of Affordable Used EVs:
- Chevy Bolts (1-2 years old, low mileage) for $12,000–$14,000.
- Used Teslas available for around $25,000.
- Things to Consider:
- Before dismissing EVs, compare the pricing with gas vehicles.
- Great options for a second or third car.
- Check inventories at Hertz, local dealers, eBay, or AutoTrader for deals.
Why This Matters:
- Even if you aren’t actively seeking an EV, the pricing and incentives could make it worth considering.
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