Used EVs are the Bargain of the Decade




Looking for an amazing deal on a used car? Get an electric car. The prices are incredible. Here are just a few examples:

CarGurus - in New Jersey, a 2023 Nissan Leaf with 21,000 miles for $10,000

Capital One's Auto Navigator - in Atlanta, a 2023 Mercedes-Benz EQE 350 4Matic Sedan with 46,000 miles - $33,000. This was an $80,000 car when new!! 

Cars.com - in Dallas, a 2024 Kia Niro EV with 11,000 miles - $20,000. 

All of these cars, and ones like them, will still be under warranty. The Mercedes-Benz has a 10-year, 155,000-mile warranty. Most electric cars have an 8-year / 100,000-mile warranty on the battery and drive components.

See the full NBC 7 San Diego story - Reporter Sergio Flores does an excellent job of explaining it concisely. 

Why are Used EVs So Cheap?

The reason is simple: EVs depreciate very rapidly - many people see an electric car as a tech purchase, so they upgrade frequently. Also, there's still uncertainty surrounding electric cars. There's nothing really uncertain about electric cars, but in many shoppers' minds, an EV is a big question mark. Besides, how many people do you know who have a 10-year-old phone? Not many; most people upgrade tech every few years.  


For an even better deal (although at a higher price), look for a used luxury EV. Luxury things already depreciate quickly. Now add the electric vehicle formula to that, and you get incredible deals. 50 or even 60 percent off the new car price is common. Plus, many electric cars have low miles, often used for driving around town or for short commutes. The average EV buyer is not using their electric car for road trips. 

If you can make the charging work for you (80 percent of EV owners charge at home), then a used electric car is an incredible bargain. 



Comments

Post a Comment

Popular posts from this blog

Costco Gas Along Interstate 5 - LA to SF

Image
Did you know Costco gas is sometimes .15 cents cheaper than regular name brand gas? That's kind of a lot - shop on a major interstate like I-5 and the price difference can be even more dramatic. The problem is, most Costcos are near city centers or shopping area - not really ideal for the highway traveler. So here's a few you can easily find on the road from LA to SF. There's a new Costco in Lakewood, CA right behind the Lakewood Center Mall. It's not really freeway close but about 2 miles East off the 605 Fwy or 2 miles South of the 91 Fwy. The address is 340 Lakewood Center Mall. Just North of Los Angeles the Pacoima Costco is very near the 118 Fwy. If you use the 210 to get to I-5, this one is perfect. It's located at 13550 W Paxton in Pacoima. Travel North out of LA on I-5 and the Costco's get pretty slim. If you need gas just outside the Grapvine, take 99 instead of I-5 for a few miles. The speed limit is still 70 here so you won't lose much time. The S...
Read more

1992 Oldsmobile Trofeo - Now, I'm the Sucker

Image
I admit it - I like a lot of 80s and 90s GM cars. In my dream collection I will have a 1996 Buick Roadmaster wagon and a 2003 Buick Park Avenue. Plus, a Reatta, Allante and probably a 1992 Oldsmobile Trofeo. It looks awesome. Like the Regal Grand National, the Trofeo looks like your grandparents car with blacked out trim, fog lights and bigger wheels. Something about that formula is really cool. Mechanically identical to the doofier looking Toronado and Buick Riviera, the Trofeo is probably little more than an appearance package but it's one that works. The Trofeo was powered by GM's prolific pushrod, 3.8 liter V6 and that was good for about 170 hp at the time. 1990 models have slightly less power. The '91 and '92 models had ABS standard and incorporated steering wheel audio and climate controls - pretty sweet for 1992. 0-60? Sure. Slalom? Maybe. Consumer Guide says an Olds Trofeo is only worth about $1300 at most.
Read more

If You Really Want to Use Less Gas...

Image
If people are serious about using less gas and fewer resources, then just drive something used like this - the 2012 Mazda5 is a six-passenger minivan that gets 28 miles per gallon on the highway.  By the way, a new $45,000 Toyota Highlander Hybrid gets 35 miles per gallon in mixed highway/city driving. In the Mazda5, I was able to get 24 mpg in combined city and highway driving. The Mazda5 is comfortable, fun to drive, and versatile - plus, it costs about $7,000 used. Maybe you don't need a new hybrid or electric car. It's a similar story with cars like the Ford Focus, Chevy Cruze, Honda Fit, Ford Fiesta, and Kia Sportage.
Read more