With volatile gasoline prices rising in recent weeks, Edmunds has seen increased shopper interest in hybrids, plug-in hybrids and fully electric vehicles. If you’re thinking about going 100% electric, there’s a way to save even more money: Buy used. While new EVs are more expensive than similar gas-powered vehicles, steep depreciation can actually make a 3-year-old EV more affordable than its gas counterpart.
This price downturn doesn’t just apply
to outdated EVs either. Some of Edmunds’ favorite models can be found for cheap on the used market. We included the average pricing of 2022 to 2024 models to give you an idea of what you might have to pay. Note that the range figures listed below are for when the vehicles were new. Maximum range decreases slightly as an EV’s battery is used over time.
If affordability is your top priority, then you might not need to look any further than the Bolt EV and its SUV-inspired sibling, the Bolt EUV. They are the best used EVs you can get for a killer price. It’s also a great value considering the Bolt’s generous list of tech features, spacious cabin and easy-to-park size. The Bolt EV gets up to an EPA-estimated 259 miles of range on a full charge, while the EUV can go up to 247 miles.
Tip: The Bolt EV debuted for the 2017 model year and remained in production until 2023. (A revised Bolt is set to debut for 2027.) If your budget allows, get a 2022 or 2023 Bolt EV or EUV for the updated styling and improved technology features. The Bolt is best for people who can charge at home. Charging at public charging stations can be tediously slow.
Average 2021-2023 pricing: about $18,000
The Kona Electric is the electric version of Hyundai’s pint-size crossover SUV. Like the gas-powered standard Kona, the Kona Electric is surprisingly nimble. Couple that with the instant acceleration of an electric motor and you have a small SUV that’s fun to drive. Other highlights include comfortable seating and a max EPA-estimated range of more than 250 miles.
Tip: Hyundai redesigned the Kona Electric for the 2024 model year, adding more interior space and improved technology features. But we think the better value is to focus on getting a 2022 or 2023 Kona Electric. In Edmunds’ testing, it was quicker than the newer model and went farther in our real-world range test.
Average 2022-2024 pricing: about $19,000
The Ioniq 5’s combination of comfort, quick charging and user-friendly interior design has consistently made it one of Edmunds’ favorite electric SUVs. It’s not one of the most affordable EVs when new, but used ones can be purchased at a bargain price, especially considering the long list of standard features it offers. The Hyundai also boasts a distinctive design that sets it apart from other SUVs.
Tip: Avoid the Standard Range version. It’s the least expensive but is limited by its EPA-estimated 220 miles of range. All other Ioniq 5s have more range, topped by the single-motor version that can go up to 303 miles.
Average 2022-2024 pricing: about $25,000
Your best pick for an electric sedan is the Tesla Model 3. It has a spacious interior and available advanced driver assistance systems that can make driving in traffic less fatiguing. Easy charging at Tesla’s vast network of Supercharger fast-charging stations is a key bonus, and the popularity of Telsas means there are plenty of used Model 3s to choose from.
Tip: Tesla updated the Model 3 for 2024, so if it’s within your budget, aim for a 2024 model or newer to take advantage of the Model 3’s latest interior and exterior styling, new features and improved comfort. The Model 3 is typically offered in a base version that has the least range, a long-range version and a powerful Performance model.
Average 2022-2024 pricing: about $26,000
The Q8 E-tron debuted for the 2019 model year as Audi’s first mass-produced EV. This Audi isn’t a class leader, but it’s still a good choice if you want a luxury electric SUV at a non-luxury price. It offers standard all-wheel drive and a lot of upscale features, including leather upholstery, ventilated front seats and a premium sound system.
Tip: The most significant drawback to the E-tron is range. A 2023 model can only go an EPA-estimated 226 miles. If you can, spend more to get a 2024 version. Renamed the Q8 E-tron, it gets a big increase to 285 miles.
Average 2022-2024 pricing: about $34,000
Buying a used EV makes a lot of financial sense. If you’re on the fence because of battery replacement costs, keep in mind that EVs offer an eight-year/100,000-mile battery warranty. Some brands also offer additional coverage.
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This story was provided to The Associated Press by the automotive website Edmunds.
Michael Cantu is a contributor at Edmunds.
