Buying a used electric car (EV) can be a cost-effective and environmentally friendly choice. However, you’ll have to consider several factors to make a well-informed choice.
Check out our guide if you’re unsure what to look for to ensure your EV is a wise investment. We’ll explain the key factors when buying a used electric car.
The battery is an EV’s most critical component, so assessing its health pre-purchase is essential. Review all available battery health reports and certificates to avoid the worst-case scenario of the battery failing on the road or otherwise quickly degrading.
Many EV manufacturers also offer battery warranties that typically last eight years or up to 100,000 miles. Ask the dealership to verify whether the car’s battery is still under warranty, and consider getting an independent battery health check to provide you with additional assurance.
Before buying your EV, you’ll need to check whether it’s compatible with charging facilities you plan to use at home and in public stations. Check the car’s charging point type and the availability of matching chargers in your area to prevent inconvenient charging trips.
Older EVs also run on more outdated technology and offer less rage than newer EVs. Models from the early 2010s may travel half the distance of a 2021 model on a single charge, which could be an issue if your home lacks a charging point.
As with all used cars, reviewing an EV’s history is crucial. Ask the dealer for a full-service history to confirm it received regular maintenance. It will also allow you to check for past accidents and repairs.
This information can provide key insight into the car’s condition and how well it has been cared for. EVs usually have few components, so there’s less to go wrong with them, but it’s still worth checking its service history.
New EVs are usually more expensive than petrol or diesel cars but can experience significant depreciation. This means that fairly recent models can quickly become affordable in the used EV market, making them an attractive option.
Before purchasing your EV, research current market values to ensure you’re paying a fair price.
Also, consider its potential resale value if you plan on selling it in the future. Quick EV depreciation, while beneficial for buyers, can come back to bite them when they put it on the market.
Before buying your EV, research the insurance costs associated with its specific model, as premiums can vary. Other running costs to consider include servicing, tyre replacement, and future repairs. While EVs tend to have lower maintenance costs than petrol and diesel cars, you’ll still need to budget for them.
Searching for ‘used cars’ will come back with an almost endless range of cars, including electric models. Filter for EVs and focus on their unique benefits to reduce the noise and make an informed decision.
By carefully considering battery health, service records, depreciation, resale value, and running costs, you can confidently navigate the used electric car market and find a model that suits your needs.
