Why You Should Consider a Used EV (Even If You Hate EVs)
Download MP3Why Used Electric Vehicles Are a Great Deal
- A large supply of used EVs is available due to lifestyle buyers selling their vehicles.
- Many original EV buyers used them as secondary cars rather than primary vehicles.
- Used car buyers tend to be more practical, focusing on affordability over sustainability.
Significant Depreciation in Used EV Prices
- Some Tesla Model S cars are selling for as low as $9,000.
- Many Teslas are available in the $12,000–$15,000 range.
- Compared to gas cars, finding a 2–3-year-old vehicle under $20,000 with 50,000–60,000 miles is rare.
EV Ownership Considerations
- Perfect for city commuting and short-range travel (200–300 miles).
- Possible incentives from local governments and electric companies can lower costs further.
- Battery degradation is often minimal, with some vehicles maintaining 85% capacity.
EV Battery Replacement: Is It Worth It?
- Even if a new battery is needed, replacing it for around $5,000 still makes the total cost attractive.
- EV motors and drivetrains are highly reliable, lasting hundreds of thousands of miles.
- Some used EVs may still have warranty coverage on their batteries.
Financial Advantages Over Gasoline Cars
- Finding a good gasoline car under $20,000 is difficult, with most costing in the mid-$20,000s.
- Saving $10,000 or more on an EV can put buyers in a better financial position.
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