Used EVs are becoming increasingly affordable for buyers, but a key to growing the market is expanding its reach through secondhand sales. Americans buy 17 million new cars each year and 40 million used ones — making the secondhand EV market a big opportunity to get more people into their first electric vehicle.
The cost of a used EV can be significantly less than that of a similar gas-powered car, especially if the battery has more than a few years or miles left in its warranty. Battery-powered EVs typically have warranties that last for at least eight years or 100,000 miles and may offer longer warranties depending on the manufacturer. And since batteries degrade with time and use, a battery that’s lost some of its capacity over the years could still be a worthwhile purchase for many shoppers.
Used EVs: What to Look for When Buying Pre-Owned
Incentives and state-level benefits could also effectively lower the cost of a used EV. Some states, such as Oregon and Connecticut, offer a used EV tax credit of up to $14,000 that can be stacked with federal incentives. Other perks, such as rebates or discounts from power providers, can also reduce the cost of an electric vehicle and its operating costs.
Another thing to consider is the charging infrastructure in your area and where you plan to travel a lot of the time. If you’re planning on using public charging stations a lot, look for an EV that has an adapter for both SAE J1772 plugs (the most common for Level 1 and 2) and DCFC ports used by fast-charging EVs, which are generally standardized as Combined Charging Standard or CCS.
