EVs are still pretty expensive, so one of the most economical ways to get an electric vehicle in your driveway is to buy one second-hand. We mentioned that some EVs experience significant depreciation - and while that’s not a great financial outcome for the person who originally bought the car new, it means that these cars can be picked up on the used market at a very attractive discount.
Buying a used EV can be complicated, but if you keep a few things in mind you can likely score yourself an amazing deal. Here are some key things to look out for.
Many used car dealers aren’t in the business of EVs, and haven’t taken the time to understand the technology or the features of specific EVs. As a result, misinformation is rampant. As a customer, you really need to do your research about the car you want, arrive prepared, and not rely on the dealer to give you accurate information.
As we covered in an earlier lesson, batteries do lose capacity over time. How much a specific car has lost will depend on how many cycles the battery has performed (how many times it has been charged and discharged), the temperatures it has been exposed to, etc. Some vehicle models will display battery health measurements in settings, but for most you may want to ask the dealership to fully charge the car before a test drive to see how much range the car displays.