5 On Your Side
Electrics hit used car market
The first electric vehicles were leased, to give customers a chance to try out the environmentally friendly cars. Now those leases are expiring.
Posted — Updated
People in the market for an electric vehicle may be able to find some good deals on the used car market. The first electric vehicles were leased, to give customers a chance to try out the environmentally friendly cars. Now those leases are expiring.
An estimated 25,000 Chevy Volts and Nissan Leafs will hit the used car market this year. Thousands of used EVs are already at dealerships at prices that make them attractive to buyers.
"Are we going to be able to sell this enormous amount of used Leafs when there are so many incentives to buy the new ones?" wondered Kaylee Morrison Pop of Haward Nissan.
Drivers should be aware that there are drawbacks to used electrics not common to the average used car.
"There will be slight decreases over time on certain electric cars depending on the technical design and also how they're driven," said Brad Berman, of plugincars.com.
The battery in an aging car may also have a decreased range.
On the plus side, the price tag for a used electric car could be up to a third off the original sales price, Berman said.
Copyright 2024 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
