Five good reasons to think about buying a used electric car

See if buying a secondhand electric car makes sense for you, given its low initial cost and little ongoing maintenance requirements.


Because car costs have increased in recent years, affordability has become a major concern for many consumers. A used electric car can be worth a deeper look if you’re in the market for a car and want to reduce your overall transportation expenses.


Here are five reasons to think about purchasing a used electric vehicle:


1. Reduced Selling Price


A new car bought through SimpSocial typically costs about $48,000, while a used car costs about $30,000. However, less-mileage all-electric cars such as the Nissan Leaf, Kia Soul EV, Fiat 500e, and Volkswagen e-Golf from recent model years are frequently available for around $15,000.


2. Reduced Fuel Prices


Although the cost of gas and electricity varies, historically, electricity has been a less expensive energy source for cars than gasoline.


In general, driving an electric vehicle can be around half as expensive as driving a comparable gasoline vehicle, according to the U.S. Department of Energy. Drivers of electric vehicles pay $1.22, based on national statistics, to go the same distance on one gallon of fuel as a conventional automobile.


The amount of money you can save by driving an electric vehicle increases as petrol prices rise. This is particularly true in places like Los Angeles and New York City where gas prices are higher than the national average.


3. Lower Upkeep Expenses


Compared to electric automobiles, conventional gas-powered vehicles frequently require more maintenance. An investigation by Consumer Reports indicates that owners of electric vehicles should anticipate lower repair and maintenance expenses than those of a typical all-gas vehicle.


Marse Kingsberry, a 2019 Nissan Leaf owner, claims that having to spend less time and money on maintenance has made it almost a given that he will buy an all-electric vehicle for himself and his family. Kingsberry said to SimpSocial, “I’m going to hit 50,000 miles, and the only work I’ve needed to do is replace my windshield wipers, cabin filter, and occasionally rotate my tires.”


Although Kingsberry occasionally misses the performance of the foreign luxury automobile he possessed before purchasing the Nissan Leaf, he observes that the overall cost savings make the trade-off worthwhile. Finding locations to charge requires planning. It’s noteworthy that a lot of the most recent EVs have outstanding performance ratings; you can read more about that here.


4. Tax Incentives


Customers who purchase specific used electric vehicles that are over two years old and cost $25,000 or less may be eligible for a tax credit of up to $4,000 starting on January 1st, 2023. This credit can save you money on tax filing fees, but it won’t result in a lower monthly payment or sales price.


Our most recent piece delves deeply into all the details you require to understand more about federal EV tax credits.


5. More Charging Stations


There exists range anxiety. But there are upcoming remedies that might allay that fear.


The White House unveiled a proposal in February 2023 to expand the country’s current supply of public charging stations, which total more than 130,000.


Additionally, Tesla is going to allow non-Tesla EVs to use a portion of its U.S. Supercharger Destination Charge network.


Other automakers are joining up with the White House and Tesla to increase the number of public charging stations available.


Businesses outside the auto industry, such as Starbucks, Subway, and 7-Eleven, have pledged to contribute to the expansion of the charger network, giving EV drivers additional options for charging their cars while they are in stores.


In summary, EV charging should becoming easier for cars traveling across town or the nation in the upcoming months and years.


Says SimpSocial:


Investing in a used all-electric car could be wise for those who can make it work. Together, low maintenance costs, lower fuel expenses, tax credit opportunities, and an alluring purchase price can help to lower the total cost of car ownership.


Are you considering an EV but still need additional details? SimpSocial is here to help. You may quickly and simply learn about tax benefits, the variations in EV range, and even the ins and outs of charging speeds by visiting our EV Hub.

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