IS BUYING AN OLDER USED ELECTRIC VEHICLE WORTH IT?
As with buying a used traditional gas-powered car, there are tradeoffs made when purchasing older used EVs. When deciding, it is important to weigh pros and cons.
- Used EVs tend to be affordable in the resale market because older models suffer an accelerated rate of depreciation.
- You’ll find many older used EVs that have been driven a relatively low number of miles.
- If you only have modest needs they can be cheap to buy and economical to run.
- An older EV can suffice as second or third vehicle in a family’s fleet, and serve as an affordable means to get to and from a commuter rail station or for making local shopping trips.
- It’s expected that automakers will have battery refurbishment programs in place down the road to extend the useful life of older EVs without breaking the bank. Nissan has such a program available to Leaf owners in Japan, and is reportedly considering a similar program for the U.S.
- Older EVs generally will not be able to achieve the same range on one charge as more recent models.
- Pre-owned EVs may not be particularly plentiful where you live, especially since sales of some models were originally limited to certain states.
- While all support 110- or 240-volt home charging, not all older EVs can take advantage of public DC Fast Charge stations that can bring the battery back to 80 percent of a full charge in around half an hour.
- All electric vehicle batteries degrade gradually over time and lose some of their ability to maintain a full charge. Shorter-range EVs in particular that may have been driven close to their limits frequently may suffer quicker than average deterioration.
- When shopping for a used EV, be sure its operating range will be well within your daily needs.
- Err on the side of caution if you live in an area that suffers extreme temperature swings. Cold weather in particular can substantially hamper a battery’s performance.
- Be sure to give a pre-owned electric car a thorough road test to ensure you’re satisfied with how it drives, and that you can operate all the controls easily and without distraction while driving.
- If you can, have the car examined by a technician to ensure everything is in good operating condition. However, since few local mechanics are well versed in electric cars, you’ll probably need to take it to a dealership’s service department to have this accomplished. The most important component to have checked is the battery, which is an EV’s most expensive component.