Affordable EVs have been on sale in the U.S. effectively over a decade and the information analytics firm Experian says about 2.2 million had been on the highway at the finish of final 12 months. Electric vehicle sales continue to grow, too. As not too long ago as 2021, complete battery-powered electric vehicle sales in the U.S. had been underneath 450,000, however Kelley Blue Book says sales surpassed 800,000 in 2022 and are anticipated to prime a million this 12 months. While the used EV market remains to be very small, the progress trajectory of EV sales means looking for a used electric vehicle will grow to be more widespread and get simpler over time, and embody more make and mannequin selections.

In some ways, looking for a used electric vehicle is the similar as in search of some other used automobile or truck. Does it meet your funds and suit your life-style? Is it dependable and cozy? But, past these standards, there are some particular concerns EV customers have to make associated to charging choices and vary.

Here are a few of the key EV-specific points to think about.

Charging stays restricted in lots of areas

There are at the moment about 145,000 gas stations in the U.S., however solely 53,000 public charging stations. Though charging infrastructure is enhancing, it is nonetheless restricted in lots of elements of the nation, which might be be a difficulty for somebody wanting to go electric. While this is a matter for any EV buy, new or used, it is basic to perceive earlier than stepping into the way it informs a used EV buy determination.

Consumers ought to decide what sort of vary they want, then analysis EVs that meet it, mentioned Tom McParland, a author for Jalopnik who runs the vehicle-buying service Automatch Consulting. They additionally want to account for what kind of charging infrastructure is on the market of their space and if dwelling charging is possible, he mentioned.

Chris Harto, the senior vitality coverage analyst for Consumer Reports, famous that customers ought to set sensible expectations. “Ask your self the place and if you’ll be charging,” he mentioned. “If your reply is that you don’t have any place to cost it whereas at dwelling or work, you might have considered trying to think about a broader vary of automobile sorts, together with hybrids, which may supply excellent gasoline economic system and low upkeep prices.”

Your driving, mileage habits matter

Some costly EVs boast such spectacular vary that charging infrastructure could by no means be a difficulty, such as the Lucid Air (EPA vary estimate: up to 516 miles) and the Tesla Model S (up to 405 miles). More inexpensive electric autos have a tendency to have shorter ranges, although.

Battery electric autos with listing costs underneath $35,000, such as GM‘s Chevy Bolt EV and the Hyundai Kona Electric, have EPA ranges of practically 260 miles however are unlikely to make it that far in real-world driving situations. This is particularly true in chilly climate, which may intervene with the electrochemical reactions inside batteries.

EV vary will decline

This is the place the normal battery concerns in going electric grow to be a more particular concern. A EV’s vary is probably going to degrade over time.

Batteries can lose 5% to10% of their energy in the first 5 years and hold degrading after that due to a number of components, together with age, publicity to temperature extremes, and use of quick charging. If the degradation is extreme, you may want to restore or change the battery, which may get pricey.

Batteries are also considered one of the most costly elements of an EV and might price over $10,000 to change, however federal guidelines mandate that they are coated underneath guarantee for at the least eight years or 100,000 miles, so customers taking a look at a calmly used BEV in all probability nonetheless have some protection left. Plus, even a well-used battery should have sufficient capability to meet your wants.

Precise battery life is difficult to measure

Determining the actual situation of a used BEV’s battery could be tough – the U.S. auto business doesn’t have a customary set of metrics to measure it. But there are nonetheless methods to get a normal thought of a battery’s well being.

Recurrent, a Seattle startup which has teamed with the automotive website Edmunds, gives EV and plug-in hybrid shoppers a free prediction of remaining battery life based mostly on statistics it is gathered on mileage, age, local weather, and different components.

A protracted check drive also can offer you an thought of a battery’s well being as a result of you’ll be able to monitor how rapidly it loses cost. This is particularly true if it contains sustained cruising at freeway speeds, which tends to drain batteries a lot quicker than stop-and-go driving.

As with all used-car purchases, getting a skilled inspection could be price the price. “I typically suggest shoppers go to service departments at dealerships that promote [EVs]” mentioned Ronald Montoya, Edmunds’ senior client recommendation editor. “Compared to unbiased mechanics, you could be sure that dealership mechanics have been educated on [EVs] by the producer,” he mentioned.

Electric autos lose worth quicker, however repairs is much less

EVs typically depreciate quicker than ICE autos, in accordance to Kelley Blue Book. The automotive analysis firm says that three-year-old EVs maintain 63% of their worth in contrast to 66% for autos utilizing inside combustion. Depreciation at 5 years is even more pronounced, with EVs holding 37% of their preliminary worth and ICE autos 46%.

This depreciation could make used EVs a whole lot in contrast to buying new, however do not be stunned if the worth remains to be excessive – many electric autos are costly to start with.

The common used EV bought for $42,895 in March, famous Kelley Blue Book govt editor Brian Moody. That’s down 1.8% from February, however nonetheless considerably larger than the used vehicle market general, the place costs averaged a little over $27,000 in the first quarter.

Low upkeep and maintenance prices might help make up for the larger buy worth, although. Consumer Reports discovered that EVs price about half as a lot to restore and preserve as gas-powered autos. “[EVs] do not have fluids to change, and electric motors are easier than gasoline and diesel engines” famous Benjamin Preston, an autos reporter for the group. “Simply put, there’s much less that may put on out.”

He pointed to a current study exhibiting that EVs price much less to personal over time than fuel autos. The examine discovered that used EVs can save even more than new ones. That’s as a result of depreciation takes a chew out of the EV worth premium, however used consumers nonetheless get the similar gasoline and upkeep financial savings.

Tax credit score {qualifications} for used EVs

In addition these advantages, a used EV can qualify for state and federal incentives.

Used EVs (plus plug-in hybrids and fuel-cell autos) bought for up to $25,000 from a licensed supplier can qualify for up to $4,000 in federal tax credit. Learn more from the IRS.

Many states even have their very own tax credit. See what each state offers at Kelley Blue Book.

Where the used EV offers are

Higher-priced fashions are sometimes the higher worth in the used automobile market.

“The luxurious [EV] area is the place consumers will discover the greatest worth for his or her greenback, particularly in the sedan section,” McParland mentioned. “If you have a look at fashions like the Audi e-tron GT or Volvo S90 T8 PHEV you’ll be able to actually make the most of some depreciation.”

Luxury autos usually depreciate quicker than the mainstream market, he mentioned, including that the adjustments in federal tax credit are additionally impacting the luxurious EV market. (Among different necessities, federal tax advantages for brand new plug-in hybrids, gasoline cell and full battery powered EVs solely apply to SUVs underneath $80,000 and vehicles underneath $55,000.)

Another enticing possibility is Tesla’s Model 3, which boasts loads of room for a household of 4 and up to 358 miles of vary. Used Tesla costs have been dropping since 2022, and pre-owned Model 3s were selling for less than $43,000 in the first quarter.

For customers on a funds, the greatest offers are fashions together with the Chevrolet Bolt EV, Hyundai Kona Electric and the Kia Niro EV, which provide a good mixture of vary and relative affordability, in accordance to Montoya.

“The greatest values are the electric vehicles which are both previous and out of guarantee and those who had been cheap – comparatively – when new,” Moody mentioned.