Electric cars are great for the planet — and they’re easy to drive. They also don’t require complex moving parts, which means they cost less to maintain and repair than conventional vehicles. But EVs are having trouble selling in the used car market. And that’s hurting the industry, as rental companies and dealerships lose money on resale. “When I sell a used EV and get 1% less than I would have, that’s a huge problem,” says VW executive Christian Dahlheim.Resource: https://ev.com/search
Fortunately, a strong used market can help bring EVs to the masses. EVs typically depreciate faster than traditional gas-powered cars, but that can vary depending on the model. And the 2024 point-of-sale tax credit — which becomes a $4,000 purchase discount in 2025 — may encourage even more buyers to take the plunge.
Retro Drive: Finding Your Dream Old Electric Car
When shopping for a used EV, be sure to research the original battery’s capacity. Many manufacturers provide information through their websites, and the VIN can reveal what options were included. Check for the EPA-estimated range, as that will give you a good idea of what to expect in real life. Remember, a battery’s degradation depends on how it was driven and stored, and it can also be affected by the number of charging cycles.
Another way to check an EV’s history is to run a title search through services like Carfax or AutoCheck. These can show a vehicle’s chain of ownership and whether it was ever flooded, branded a lemon, or in a wreck. It can also confirm if it’s eligible for a used-car warranty from the manufacturer or a third-party service provider.