Electric cars are usually more expensive than their internal combustible engine counterparts. The higher-than-average price tag acts as an obstacle for ownership to many prospective car buyers. For those who really want to get a greener car but don’t have the budget, buying a used electric car may be the perfect solution.
Used electric cars offer the benefits of a green car with a lower purchase price. Here’s what you need to know about buying second hand electric cars:
Are used electric cars good value for money?
If you’re looking for a cheaper option, used electric cars may be a worthwhile investment. Usually, electric vehicles depreciate quicker than their internal combustible engine counterparts. Because of the rapid car depreciation, it may be easier to find affordable used electric vehicles.
Aside from the sale price, you should also consider upkeep costs like insurance, maintenance, and recharging. These expenses can add up easily and make owning an electric car, even a used one, more expensive than initially anticipated.
When buying a used electric vehicle, make sure that it’s in good running condition. Check if the electric vehicle has good battery health, driving range, and the like before putting down an offer. Getting a battery test before purchasing a used electric vehicle is a good idea so you know the car’s exact condition.
It’s also best to practice caution especially when dealing with private sellers who put up used electric vehicles for sale that are lower than market value. Make the necessary test drives and technical checks before finalising any second hand electric car purchase.
Pros and cons of second hand electric cars
Consider the advantages and disadvantages of buying and owning a used electric vehicle:
Benefits of a used electric vehicle
- Cheaper than buying brand new. You can get all the perks of owning an electric vehicle at a lower price when you buy second hand.
- Take advantage of extended warranties. Some electric vehicles have extended manufacture warranties of up to ten years. As a second hand buyer, you can still enjoy the warranty for a few more years.
- Go greener sooner. You don’t have to wait until you’ve saved enough to get an eco-friendlier vehicle.
- Lower maintenance costs. Electric vehicles usually require less maintenance because there are fewer parts which can save you a lot of upkeep expenses in the long run.
Drawbacks of a used electric vehicle
- Vehicle’s condition may not be the best. Just like buying any second hand vehicle, used electric cars may not perform the same way they would when bought brand new.
- Battery health may have reduced range. Because of wear and tear, the battery health of used electric vehicles may have reduced over time. You may also experience charging issues.
- Not having the latest technology. The used electric car market won’t have the latest technologies and innovation. If you’re fine with using an older model from a few years ago, this may not be too much of a problem.
Factors to consider when buying a used electric vehicle
If you are planning to buy a used electric car, make sure to check the following while shopping around:
Battery and range
The electric car’s battery is a vital component. It’s normal for the battery to degrade after a couple of years of use. Do a battery test or have a mechanic check it over to ensure that it’s still in good condition before buying.
Charging port and cable
Make sure to inspect the charging ports and the cable. Sometimes these break down due to wear and tear. You don’t want to take the electric vehicle home only to find out that you’re unable to charge it.
Active warranties
Talk to the seller or dealership about the warranties on the vehicle and battery. Discuss the terms of the warranties carefully so you know whether or not the manufacturer guarantee still covers you.
Searching for used electric car finance
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