Used electric vehicles are emerging as the budget-friendly option for car buyers in the near future. According to a recent study, three-year-old used EVs are now cheaper to own than new or used gasoline-powered cars over a 10-year period.
Researchers factored in purchase prices, home charger costs, fueling expenses, insurance, maintenance, and the eventual value of the vehicle after ten years. While new EVs depreciate rapidly during their first three years, their value levels off and becomes comparable to equivalent gas or hybrid vehicles. Conversely, gasoline-powered cars continue to incur higher maintenance costs as they age.
The study found that used EVs can save owners between $6,700 and $13,000 over a 10-year period. This significant cost advantage is particularly relevant now that analysts predict an influx of three-year-old, off-lease EVs hitting the used car market this year.
Experts note that dealerships will still have interest in selling these vehicles, which means buyers can expect to find affordable options. As the average age of cars on U.S. roads approaches 13 years, consumers are likely to benefit from a surplus of well-maintained EVs with high mileage. In fact, some buyers have already discovered used Tesla Model 3 and Model Ys as good value due to initial owners' willingness to sell them at lower prices.
The impending surge in used EV inventory bodes well for most car buyers, who can now take advantage of the cost savings offered by these environmentally friendly vehicles. With prices on new EVs expected to remain high, it's a great time to consider purchasing a pre-owned model that can offer significant long-term cost savings and reliable performance.
Researchers factored in purchase prices, home charger costs, fueling expenses, insurance, maintenance, and the eventual value of the vehicle after ten years. While new EVs depreciate rapidly during their first three years, their value levels off and becomes comparable to equivalent gas or hybrid vehicles. Conversely, gasoline-powered cars continue to incur higher maintenance costs as they age.
The study found that used EVs can save owners between $6,700 and $13,000 over a 10-year period. This significant cost advantage is particularly relevant now that analysts predict an influx of three-year-old, off-lease EVs hitting the used car market this year.
Experts note that dealerships will still have interest in selling these vehicles, which means buyers can expect to find affordable options. As the average age of cars on U.S. roads approaches 13 years, consumers are likely to benefit from a surplus of well-maintained EVs with high mileage. In fact, some buyers have already discovered used Tesla Model 3 and Model Ys as good value due to initial owners' willingness to sell them at lower prices.
The impending surge in used EV inventory bodes well for most car buyers, who can now take advantage of the cost savings offered by these environmentally friendly vehicles. With prices on new EVs expected to remain high, it's a great time to consider purchasing a pre-owned model that can offer significant long-term cost savings and reliable performance.
! It's like, finally, we're getting some good news for people who want to own an eco-friendly ride without breaking the bank 
. I mean, think about it - those first three years are just a wash on new EVs, but after that, they become super affordable. Plus, with all the new models coming out, dealerships will be flooded with used EVs, so we're gonna see some serious discounts 
. And can you believe the savings? $6,700 to $13,000 over 10 years? That's like, a small car payment every month! It's like the universe is finally blessing us with affordable electric cars 
. I'm totally considering getting a used Tesla Model 3 or Y this year - who needs a new ride when you can save that kind of cash? 
I mean, can you believe it? Used electric cars are now cheaper than brand new or used gas guzzlers over 10 years 
! They're like the flip phones of cars - nobody wants 'em anymore, so they're cheap as chips 
. My friend just bought a used Tesla Model 3 and he's saving so much money on fuel and maintenance... it's like having two cars for the price of one 
. The fact that they're becoming more affordable is awesome news for anyone looking to switch to electric, especially when you consider how much maintenance gas-powered cars cost as they age 
. It's like, why not save $6,700-$13,000 over 10 years? That's some serious cash savings 
If we're saving upwards of $13k over 10 years by buying used EVs, are we just delaying the inevitable? I mean, what does it say about our relationship with technology and cars that we're willing to take a chance on pre-owned models from three-year-old leases? It's almost like we're playing a long game, where the initial upfront cost is less important than the long-term benefits... 
Used electric vehicles are about to become the go-to option for people who want to save some serious cash. I mean, we're talking about $6,700 to $13,000 saved over 10 years - that's a pretty sweet deal! 
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. and what about the potential for battery degradation? is that still a major issue after 3 years? 
still, i guess it's a good time to consider used EVs if you want to save some cash 
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. The fact that it depreciates quickly is basically just a myth perpetuated by car salespeople trying to make a quick buck 
. And with all these old EVs hitting the market, it's only going to become more affordable for us buyers 
. I'm thinking of getting a used Tesla Model Y myself... anyone know where I can find a good deal? 
i'm so down for this, been thinkin about getting a used tesla model 3 for ages now. anyone else consider buyin pre-owned evs? 
. Plus, think about all those well-maintained EVs out there with high mileage - they're basically just waiting to be bought by someone who wants a reliable ride without breaking the bank 
, but now they're like the cool kid on the block! This news is straight fire 
- used EVs are gonna be cheaper than new or used gas guzzlers over time. It's crazy to think that a three-year-old used EV can save you $6,700 to $13,000 in 10 years! That's like buying a whole new car 
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