Yahoo Finance 5 Electric Vehicles You Should Always Buy Used
Electric vehicle prices are dropping, so you might think that it would make more sense to buy one new. But the average price for an EV in late 2023 was $50,683 — that’s still 28% higher in cost than a gas vehicle.
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However, car experts told GOBankingRates that some electric vehicles might be better to buy used rather than new, bringing the price down even more.
“Two years ago, I would have always recommended that consumers opt for a new EV over a used one,” said Nigel Tunnacliffe, the co-founder and CEO of Coastline Academy, the largest driving school in the country. “This was due to a mixture of tax incentives and the high prices of used EVs, which were close enough to the new models that it did not make sense to invest in pre-owned vehicles.
“However, in just the past two months, used EV prices have dropped quite dramatically, making this a better time than ever to opt for a used car.”
Here are the electric vehicles experts say you should always buy used.
Tesla Model 3
A new 2024 Tesla Model 3 starts at $40,630, but you can get a 2022 model with 50,000 miles on it for $22,995, according to Kelley Blue Book.
Tunnacliffe owns one himself and said he’d opt for a used one over a new one, given the combination of cost-effectiveness and vehicle quality.
“These are well-made cars that have responsive handling and strong reliability, making them great for everyday driving,” he said. “The savings on gas, plus the reduced up-front price when buying used, makes a used Tesla a better long-term investment than most other vehicles.”
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Hyundai Kona
Jan Kawecki, the marketing manager at F1Blast, said the best used EV to buy right now on the market is a Hyundai Kona. According to Kawecki, the battery on a Kona is just as durable, if not more durable, than a lot of other EVs. Plus, the EV has a very appealing design.
“When you sit in a modern EV, you will most likely be overwhelmed with the buttons, screens and options you have no idea existed,” Kawecki said. “This is not the case with Hyundai Kona. The interior is minimalistic and really slick, but it does not mean that you can’t access the same options. You still can access your favorite accessories Hyundai has to offer, but the dashboard is much cleaner and, in my opinion, better looking.”
A 2024 Hyundai Kona starts at $34,050 — which is a pretty low price point for EVs. Obviously, a used model is even cheaper.
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Tesla Model Y
“While Teslas are not the only EVs worth buying used, the mere fact that the brand has been around for longer than much of the competition means that there are simply more used models out there to begin with,” Tunnacliffe said.
He said the Model Y handles like new and is reliable, like the Model 3. “A 2019 Model Y stands up to many of the current EVs available on the market and, even when purchased used, will last for years to come. Additionally, because even these older Teslas are comparatively recent, their safety and tech features are generally far superior to what you typically get from buying used vehicles.”
The 2024 Model Y costs $44,630 new, but you can find a 2021 model on Kelley Blue Book for as low as $29,499. That particular vehicle only had 24,398 miles on it.
Chevrolet Bolt
“The Bolt is known for its solid battery life and minimal maintenance needs,” said Rob Dillan, the founder of EVHype. Dillan added that the Bolt EV was one of General Motors’ primary electric car options in recent years.
How much money will you be saving by opting for a used Chevy Bolt EV? A 2024 model starts at $27,495. On Kelley Blue Book, you can find a 2019 model starting at $15,532.
Toyota bZ4X
“Sticking with the proven offerings of other established brands is generally a good guide when it comes to buying used versions of this newer class of vehicle,” Tunnacliffe said.
That’s why he recommends the bZ4X from Toyota, since Toyota is a well-known, reliable brand. Plus, the features of the bZ4X make it very appealing for those looking for an electric car.
“The Toyota bZ4X brings the reliability and great tech and safety features that make these other models a great buy, but with the added value of an electrical transmission,” he said.
A 2024 model starts at $44,420. The bZ4X is a fairly recent model from Toyota. It was first released in 2022, so you won’t find many used models on the market — yet. Kelley Blue Book did have a 2023 bZ4X listed for $43,215, which would still save you $1,000 off the new price.
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This article originally appeared on GOBankingRates.com: 5 Electric Vehicles You Should Always Buy Used
