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How much are used electric cars?

Hi! I just got a new job and I’m spending too much of my paycheck on gas for my commute. I’m thinking about getting an electric car instead, but I can’t afford to buy a new one. So how much do used electric cars cost?

avatar
Elaine Duvet · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Congrats on the new job! I hear you; we’re all adjusting to the new normal of high gas prices.
Luckily, there’s an array of choices when it comes to buying a used
electric vehicle (EV)
.
Since the price of gas has shot through the roof, more than 50% of consumers are considering an EV for the first time. As far as used prices, you can find anything from a 2011
Nissan Leaf
SL for $5,796 to an $86,998 used 2018 Tesla Model X P100D.
Here’s what we know about the cost of used EVs:
  • Used EV prices have risen by about 25% since this time last year and inflated prices look like they’re here to stay.
  • Due to high demand despite supply chain issues, EVs can** appreciate in value** like the Tesla Model 3. Owners selling their newer generation cars could make a profit.
  • It might not be worth the wait for prices to come down. If you’re on a budget, we recommend checking out first-generation cars.
Popular first-gen choices include the Nissan Leaf, Honda Fit EV, Chevrolet Spark EV, and the Mitsubishi iMiev. Larger electrics like Ford Focus EV and the VW eGolf are also reliable and relatively inexpensive.
Make sure to check the manufacturer’s warranty on the used EV, as most have an eight-year/100,00 mile or 10-year/150,000-mile warranty for battery life.
Though right now _it’s a seller’s market _for EVs, that doesn’t mean you can’t find a great deal or incredible value when searching for a used EV. You can also save extra money by not overpaying on your car insurance every month.
To check if you could be paying less for your car insurance, download
Jerry
. The Jerry app connects you with a friendly team of agents who are here to answer your questions and provide advice on the best coverage options. They can even help you cancel your old policy after you’ve made your pick.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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