If you are looking to buy an electric vehicle but get sticker shock looking at the new ones, you may be in the market for a used EV.
AAA has released a Used E-V Buyer’s Guide to help people figure out the true ownership costs of used electric vehicles.
The big question is the battery. How old is it? How long will it last? How much range will it have?
On Thursday, we found only three used electric vehicles for sale on six car dealership lots.
One is a 2019 Audi E-Tron listed for $50,000. Another is a 2016 Nissan Leaf with a $15,000 asking price.
“How much will I use in fuel? That expense can be significantly less because you aren’t going to the gas station to fill up. Instead you are plugging in,” said Marie Dodds, AAA Oregon-Idaho. “We have found that over five years, on average, consumers can save $8,000 in fuel costs.”
According to surveys, one-quarter of Americans would like their next car to be fully electric.
About 25% of consumers interested in EVs say they would purchase used, with millennials (32%) the most likely to consider this option which means stiff competition for the few used electric vehicles available for sale.
“About 80% of people do their research online before they walk into the dealership. They know what they want,” said Kyle Rynearson, a Bend Honda sales representative. “They make sure it drives how they think it should drive based on what they find on consumer reviews or personal reviews. They usually make a decision pretty quick.”
AAA says EVs have the second-lowest annual ownership costs behind small sedans. They are least expensive for fuel and maintenance, repair and tire costs compared to their gas-powered counterparts.
However, EVs have higher depreciation costs than most other vehicle types.
“Anytime you can get an expert to check out a purchase, that’s a good idea,” Dodds said.
We spoke to some dealerships that refuse to sell used electric vehicles due to lack of information about their reliability.