If there weren't already enough reasons to buy an electric car, and more specifically, a used EV, now is arguably a better time than any. According to, the used EV market in the US has tripled in size in just 18 months, prices have come down significantly, and people are taking notice. Inventory will likely fade fast, especially as more buyers realize that there's also a $4,000 tax credit for pre-owned EVs in the US.
Used car prices have been at record highs for many months now. This came as new car inventory dwindled and new car prices increased. However, when everyone seemed to flock to buy a used car, prices rose, used vehicle inventory also dropped, and people didn't have many options. The prospects were even worse when it came to sought-after models, including EVs. People were actually paying more for used versions than the current MSRP for a new model.
Recurrent notes that based on the data in its Price Index, used EV prices have dropped some 17% from their peak. The publication shares that used were at their highest in July 2022. The average price of a pre-owned EV was nearly 30% higher in July 2022 than in April 2021.2017 Chevrolet Bolt
🤣...Too hard to own and charge an EV in the US.