By MICHAEL CANTU of Edmunds
As gas prices continue to fluctuate, interest in electric vehicles (EVs) is on the rise. For those contemplating making the switch to fully electric, purchasing a used EV could be a wise financial decision. While new electric models often come with a higher price tag compared to their gasoline counterparts, the depreciation rate of EVs means that a three-year-old electric car might actually be more budget-friendly.
Even some of the most popular models on the market can be found at reduced prices when purchased second-hand. Below, we explore some top choices for used EVs, including their pricing and range when new. It’s important to note that as an EV ages, its battery capacity—and thus its range—may decrease slightly.
Chevrolet Bolt EV and Bolt EUV
For those prioritizing affordability, the Chevrolet Bolt EV and its SUV-like sibling, the Bolt EUV, present excellent value. These vehicles offer a suite of tech features, ample cabin space, and a compact size ideal for city parking. The Bolt EV can travel up to 259 miles on a full charge, while the Bolt EUV offers 247 miles.
Buying Tip: The Bolt EV was launched in 2017 and stayed in production until 2023, with a revamped version anticipated in 2027. If budget permits, aim for a 2022 or 2023 model for enhanced styling and tech updates. It’s best suited for those who can charge it at home, as public charging stations can be slow.
Average Pricing for 2021-2023: Approximately $18,000
Hyundai Kona Electric
The Hyundai Kona Electric is an electrified version of the compact Kona SUV. Known for its nimbleness and instant acceleration, it delivers a fun driving experience. It also boasts comfortable seating and an impressive range of over 250 miles.
Buying Tip: Although the Kona Electric was redesigned in 2024 to feature more space and technology, the 2022 or 2023 models offer better value. In tests, these models performed better in terms of speed and real-world range.
Average Pricing for 2022-2024: Around $19,000
Hyundai Ioniq 5
The Ioniq 5 is praised for its comfort, rapid charging capability, and user-friendly interior. While it may not be the cheapest new EV, used models are attractively priced given their extensive features. Its distinctive design sets it apart from other SUVs.
Buying Tip: It’s advisable to avoid the Standard Range version due to its limited 220-mile range. Other models offer more range, with the single-motor variant reaching up to 303 miles.
Average Pricing for 2022-2024: About $25,000
Tesla Model 3
The Tesla Model 3 is a top choice for those seeking an electric sedan. It offers a roomy interior and advanced driver assistance systems that ease the strain of driving in traffic. Tesla’s extensive Supercharger network also provides convenient charging solutions.
Buying Tip: With a 2024 update, the Model 3 now features new styling, features, and improved comfort. For those with a flexible budget, a 2024 or newer model is recommended. The Model 3 comes in various versions, including a base model, a long-range option, and a high-performance variant.
Average Pricing for 2022-2024: Approximately $26,000
Audi E-tron
Launched in 2019, the Audi Q8 E-tron marks the brand’s first foray into mass-produced EVs. While it may not lead the pack, it remains an appealing choice for those seeking luxury at a more accessible price. Features include all-wheel drive, leather interiors, and a premium sound system.
Buying Tip: The 2023 model has a range of 226 miles, but if possible, opt for the 2024 Q8 E-tron with its increased 285-mile range.
Average Pricing for 2022-2024: Around $34,000
Edmunds says
Investing in a used EV can be financially beneficial. Concerns about battery replacement costs are often mitigated by the eight-year/100,000-mile warranty that most EVs offer, with some brands providing even further coverage.
This story was provided to The Associated Press by the automotive website Edmunds.
Michael Cantu is a contributor at Edmunds.
Original Story at www.ocregister.com