EVs are cheaper to own than gas cars, require fewer repairs and are much quieter when running. But a buyer looking for an affordable used EV may be disappointed by the current state of the market. The supply of older electric vehicles has dwindled, thanks to the global semiconductor shortage that’s caused production delays for new models. This has pushed shoppers to consider the used market, where some late-model EVs have been selling for well below $10,000.Resource: ev.com
Some experts warn buyers to be cautious about buying used EVs over a few years old, however. They say that as an EV ages, its battery capacity degrades over time. Even if the vehicle is still under warranty, it may eventually need to be replaced. However, Toprak says he believes that fears of battery failure are “a bit overstated.” EV batteries are designed to last for more than a decade and are covered by an 8-year/100,000-mile warranty that can transfer to a second owner.
Reimagining the Past: Old Electric Cars for Modern Roads
In addition to considering a model’s battery age, buyers should always have any car — electric or not — inspected by a certified mechanic. This will help ensure the odometer reading is accurate and the car has been properly maintained and charged. The technician can also look for signs of a previous wreck, flood damage or whether it was branded a lemon, which could impact its value. It’s important to run a title check on any used vehicle as well to verify the chain of ownership, as well as the history of battery health.
