Used EV buying guide: The $30,000 edition
Summary
Used electric vehicle (EV) prices in the U.S. have risen by over 5% since February, despite more cars being available from leases ending. Sales of used EVs increased by about 20% year over year, with many buyers interested in models priced between $25,000 and $30,000.Key Facts
- Used EV supply is growing due to more ex-lease vehicles entering the market.
- Prices for used EVs have increased by over 5% since February, partly influenced by geopolitical events.
- Used EV sales were up by 25% year over year by May but slowed slightly in June, resulting in about a 20% overall increase.
- Used EVs spend less time on dealer lots (38 days) compared to new EVs (81 days).
- There are over 9,000 used EVs priced between $25,000 and $30,000 available nationwide.
- Popular models in this price range include Chevrolet Blazer EV, Chevrolet Equinox EV, Ford Mustang Mach-E, Hyundai Ioniq 5, Kia EV6, and Tesla models.
- Some models, like the Hyundai Ioniq 5 and Kia EV6, are recommended despite past reliability concerns because of extended warranties.
- Less common models in this range include the Nissan Ariya, Volkswagen ID.4, Honda Prologue, Toyota bZ4x, Subaru Solterra, and Polestar 2 sedan.
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