Are Used Electric cars really worth it- 5 Buying tips to Consider

Are Used Electric cars really worth it- 5 Buying tips to Consider

Are used electric cars a good buy? Five buying tips to consider

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Hey, I’m Toby and I'm a luxury car salesman and writer here at PepLifestyle.com( Luxe Cars). 

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Are Used electric cars really worth it? 5 Buying Tips to Consider

The popularity of electric cars is growing in the US, and it’s no wonder why! They’re cleaner, quieter, more efficient, and more fun to drive than their gas-powered cousins. 

However, buying an electric car requires some research in order to make sure you’re getting the most bang for your buck – that’s why we compiled these five buying tips to consider when purchasing an electric car. 

Read on to find out how you can get an electric car that’s right for you!

The Best Used-car Websites to purchase/Sell your car

List of Best Used car Websites

The Technology

Electric cars are powered by electricity from batteries, and they produce zero emissions. 

Because of these qualities, they’re often seen as the environmentally friendly choice. But are they really worth it? 

Here are main  things to consider before making the switch to an electric car.

The Cost

If you’re thinking about buying an electric car, you’re probably wondering if now is the right time. 

The cost of electric cars has come down in recent years, making them more affordable for the average consumer. 

However, there are still a few things to consider before making the switch from a gas-powered car. Here are five tips to help you decide if an electric car is right for you

 

The Actual Driving Experience

Electric cars are definitely the wave of the future. But is it the right time for you to buy one? Here are five things to consider before making the purchase: 

  1. How much do you really drive? If you only use your car for short commutes, an electric car may not be worth the investment. 
  2. What’s your budget? Electric cars can be pricey, so make sure you can afford the up-front cost as well as the ongoing charging and maintenance costs. 
  3. What’s your driving range? Make sure an electric car will meet your needs in terms of how far you need to be able to drive on a single charge. 
  4. Are there charging stations available where you live and work?

The Infrastructure

Electric cars are only as good as the infrastructure that’s in place to support them. So, is it the right time to buy an electric car yet? Here are five things to consider before making the switch from gas to electric.

 

Maintenance and Reliability

As electric cars become more popular, their reliability improves. However, they still require more maintenance than traditional gasoline cars. 

You should plan to have your electric car serviced every 12,000 miles or so, which is about twice as often as a gasoline car. While this may seem like a hassle, electric cars are much cheaper to maintain in the long run. 

Keep in mind that electric cars also have a shorter range than gasoline cars, so you may need to charge them more often.

 

Best car VIN History Websites

Second-hand electric cars - Should I to Invest in a Pre-Owned Electric Vehicle?

Electric cars are on the rise in a significant manner because there are now more models to select from, costs are getting cheaper, and performance is getting better than it ever has been. 

However, despite the fact that the most recent models are grabbing all of the attention, electric cars from yesteryear continue to offer dependable and affordable green transportation. 

Considering that the most affordable used electric cars cost only under $10,000, investing in a used electric vehicle could end up saving you a small amount.

Buying a used electric vehicle does come with some hazards, but this is the same when purchasing any type of used automobile. 

Do your homework and give the vehicle a careful inspection before you leap into action. In this article, we will go over some of the most important things you need to keep an eye out for in order to ensure that you acquire the pre-owned electric vehicle of your dreams.

You should consider looking into an electric vehicle tariff and determining whether it would be beneficial for you when you are conducting research to find the ideal electric vehicle for you to purchase.

Pro Note:

Used EVs are typically affordable on the Resale market because older models depreciate at a faster pace.

This is due in large part to the one-time $7,500 federal tax credit offered to owners of electric vehicles (EVs), as well as a general decline in demand for EVs and a perception that certain models are outdated.

Due to their limited range on a single charge, many older used EVs will have a relatively low mileage.

On the downside, pre-owned EVs may be scarce in your area, especially if you reside in a state where sales of specific models were originally restricted.

Why should one purchase a used electric vehicle?

As more people buy electric vehicles, their prices are expected to decrease, but even the least expensive brand-new electric vehicle still costs over 17,000 dollars.

 If your budget won’t go that far, a used electric car is a good option to consider as a realistic alternative. 

On Edmunds.com, for instance, we discovered a high-specification 2014 Ford Focus  available for approximately $11,300 

A previously owned electric vehicle has the same low operating costs as a brand-new electric vehicle. 

The other good news is that it is eligible for the vast majority of subsidies and exemptions related to low emissions. 

Because there are fewer moving components, you won’t have to pay as much for major repairs like replacing the timing belt or the exhaust as you would with an older gasoline-powered vehicle.

In addition, there is an abundant supply of used electric automobiles from which to select. In April of 2020, we were able to locate more than 4000 EVs on Autotrader.com & Edmunds.com

And it’s possible that figure will skyrocket in a short amount of time. The age of the vehicle you’re interested in purchasing will determine the selection of models from which you can choose. 

If you go back in time just Seven years, there were only about 15 different major models to pick from. When purchasing a vehicle that is only a few months old, you have even more options to choose from.

Where to Look for Used Electric Vehicles

Finding a used electric vehicle is going to be your first major obstacle to overcome. 

On the US market, fully electric automobiles have only been available for purchase for a little bit more than ten years. 

As a consequence of this, there are not a significant number of options available that are pre-owned because consumers like to hold on to their initial buy.

Though, that is certainly going to change, and the supply will continue to expand as more and more people upgrade their electric vehicles. 

At the moment, however, it can be challenging to locate a solid alternative.

The Used Electric cars under 30K

On the majority of the most important car-resale sites, electric vehicle (EV) categories can be found. 

CarSales.com & Edmunds.com presently has more than 900 electric vehicles (EVs) listed for sale in America, the cheapest of which is a 2013 Smart Fortwo  that can be purchased for $11500- The Cheapest Electric Car as of today.

However, neither of these cases is typical of the market for inexpensive used electric vehicles, which typically go for a price of $20,000 or more. Both of these examples are outliers at the low end of the scale. 

Last but not least, Tesla states on its website that they will sell used stock, but to this day, very few, if any, have ever turned up. 

Nevertheless, it may be worthwhile to keep an eye on or get in touch to see if you can score a deal on the most popular make of electric vehicle now available on the market.

Are Used Electric Vehicles (EVs) Any Good?

Both yes and no Just like with any other used car, the answer relies on the automobile itself. 

In spite of this, there is nothing about the construction of an electric vehicle that, in comparison to diesel or gasoline-powered automobiles, makes purchasing a used vehicle inherently riskier or less appealing.

The age of the car is the most important factor to take into consideration. 

The majority of electric vehicles from the first generation (those produced before 2015) have rather small batteries, despite the fact that the technology employed in these vehicles has advanced significantly over the past ten years. 

Having said that, those who would have purchased a vehicle at an earlier time are likely to be extremely conscientious owners who have taken excellent care of their automobiles.

In addition, the year 2012 marked the release of the Nissan Leaf, which is currently the world’s second most popular electric car. 

Since 2012 was not that long ago in terms of car sales, deterioration is not expected to be a major issue with the current generation of automobiles

Is a Used Electric Vehicle Appropriate for You?

There are numerous reasons to consider purchasing a used electric vehicle. Whether the initial purchase price is too exorbitant or you don’t want to be tied down to a monthly auto payment, there are several compelling reasons to go this route.

At a time when demand for these vehicles will only continue to rise and supply is already constrained, purchasing a used EV may be a prudent decision.

It’s crucial to note that we do not recommend purchasing a used electric vehicle unless you are knowledgeable or have assistance from an expert.

Purchasing a pre-owned electric vehicle Pros & Cons

Pros of Buying an EV

It may be less expensive than brand-new. Due to the rising demand for these vehicles and the fact that some manufacturers already have more orders than they can fulfil, costs will continue to rise.

These automobiles are typically easy on their batteries and require minimal maintenance. As a result, they often have lower depreciation rates than standard automobiles.

The market for these automobiles is still very tiny, therefore this fear may not be as great as with other pre-owned vehicles. Consequently, they are less prone to degrade rapidly.

When it comes to purchasing one of these previously owned vehicles, you need to be aware of a few different factors.

Cons:

When looking for a used electric vehicle, it is important to verify whether or not the vehicle is still covered by the manufacturer’s warranty and, if so, how much time is still remaining on the coverage. In the event that it isn’t, you will need to investigate the transfer charge.

Check the condition of the battery for any signs of deterioration because it can be rather costly to repair. In addition to this, check to see whether the car has any outstanding recalls and whether or not they have been completed.

Used Electric Cars: Should You Buy One?

Electric vehicles prices are too high! Yes, the new ones are still somewhat expensive, although this is steadily changing.

But what about purchasing a used or pre-owned EV? Is it a wise decision? And what should you be wary of?

Charging Capacity.

Let’s start with Charging capacity of EV. Before purchasing a used EV, you must determine how it will be charged. Have you got a driveway? Are there numerous public charging stations nearby if you don’t? Exists a dependable charger at work?

But it’s also crucial to be aware of how quickly the automobile charges. 

For instance, without modifications, previous Nissan LEAFs could only charge at 3.5 kW on AC, which is somewhat slow. On AC, the Ford Focus may charge at 22kW. 

In addition, some older EVs did not include quick DC charging, which may be a deal-breaker for you.

Examine the Electric Charger and the Amount of Time It Takes to Charge

The charger is yet another component that needs to be checked out by you. 

This is one of the most important things that you need to look at because if the car already has a charger, then you won’t need to buy another one and you’ll be able to charge the battery of your electric car at home. 

If the car does not have a charger, then you will need to buy one. Now that you have a charger, all you need to do is instal a charging port that is specifically designed for your vehicle. 

It is possible that the cost of the replacement may not be prohibitive, particularly if you work with utility providers who provide price reductions on charging equipment.

 

Price of EV- Electric car Price

Let’s face it, that’s the primary reason you’re considering purchasing a used EV, right?

However, just because you are purchasing a used EV does not guarantee that it will be inexpensive. 

The difficulty is that there is so much demand for electric vehicles but so little supply. 

There are numerous accounts of someone purchasing a Tesla Model 3, using it for a few months, and then selling it for MORE than they paid for it. 

So do your sums. Use a pen and paper or a spreadsheet to take notes. 

Calculate the amount of money you will save on fuel and maintenance compared to a combustion option. 

You may be in for a pleasant surprise. And the additional money you spend up front may quickly pay for itself.

 

Reliability Of EV

Let’s discuss dependability, and I have some excellent news for you. Remember all those tales about batteries being changed after a few years for tens of thousands of dollars? 

Yeah, nonsense! If you wish to learn more about this topic, please view our other films on EV batteries.

The health and dependability of EV batteries are proving to be outstanding. 

Now some of the very first Nissan LEAFs and Ford Focus are beginning to struggle, yet these models have been around for ten years! We’ll revisit battery health in a moment. 

However, suffice it to say that EV batteries are highly dependable.

In addition to the engine, the remainder of the vehicle is also reliable. Clearly, EVs are considerably simpler. There are fewer moving parts and fewer potential failure points! 

There are no fan belts, timing belts, spark plugs, etc. Consequently, EVs are significantly less likely to break down and require significantly less maintenance.

 

Batteries Of EV

Back to batteries for the time being. There is no question that they deteriorate over time! However, the rate at which they do so is quite low. 

After 100,000 miles, the batteries of current EVs should retain over 90% of their health. In fact, the battery will probably outlive the automobile itself.

However, you need be more cautious when purchasing a secondhand EV. For instance, if you are examining anything that is at least five years old, it is likely that it has undergone severe degradation.

Depreciation

Range is a major component in establishing the value of a used EV. Compared to the mountain of depreciation data the industry has on gasoline-powered vehicles, there is currently a dearth of information on electric vehicles. 

As a further complication, data on older EVs are not particularly useful for estimating the depreciation of new models, as driving range and battery technology continue to advance rapidly. Consequently, there will be contradictory information available.

Battery maintenance and replacement

A major reason to purchase a secondhand EV is that they are less expensive to maintain. 

Harto’s study for Consumer Reports also discovered that EV drivers spent 50 percent less on repairs and maintenance throughout the life of their vehicles. 

This is partly due to the fact that electric vehicles have less moving and wearing parts, he explained. 

The savings amount to thousands of dollars over the lifespan of a car, in addition to the money you’ll save by never buying gas again.

Wrapping up Note

Some parting words of wisdom

A few final pieces of advise before we conclude! Determine your deal-breakers! Will you easily be able to charge it? No? Then, wait till it is suitable. Will a seven- or eight-year-old Nissan LEAF 24kWh Or Ford Focus make the winter commute to work? No? Obtain a different automobile.

Additionally, there exists a devoted EV community. Therefore, contact your local EV owner’s groups; they will be more than happy to provide you with advice that is relevant to your area, such as pricing and charging!

Now, we have produced countless videos on all areas of the EV industry, including different ways of charging, various vehicles, what a kWh is, what is DC, etc. Check out these videos for additional information.

The Best Used-car Websites to purchase/Sell your car

List of Best Used car Websites

Pep Lifestyle

Pep Lifestyle

Making Perfect Lifestyle possible The Peplifestyle brand is all about bringing a touch of elegance to mundane aspects of life and making significant and insignificant events appear and feel more attractive.

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Affiliate Disclaimer: This post contains affiliate links, which means we’ll receive a commission if you purchase through our links, at no extra cost to you. Read the Disclosure here.

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