It's the perfect time to buy a cheap used EV

Early this summer, my wife and I had an inconvenient realization: we may need to be in two places at once. An urgent doctor appointment could conflict with YMCA day camp pickup, or our kids would get invited to two birthday parties on the same morning at godforsaken activity centers in separate towns. There was no doubt we needed another car. A big ticket purchase seemed unjustifiable when we don't know what eggs will cost next month — and my search for an aftermarket Prius within my budget was strangely fruitless. As it turns out though, now might be the best time to grab a used EV.

During my search, I saw BMW i3s (those freakish go-kart looking EVs) and VW e-Golfs selling for around $15,000, both of which are more fun to drive and have better tech features than older Prii. Couple those low prices with the soon-to-be-expired EV tax credit — which can get you up to $4,000 off certain used EVs and plug-in hybrids (PHEVS) — and some cars could cost $10,000 or less! Meanwhile, I couldn't find a decent 2015 Prius below $17,000.

Long story short, I settled on a boring-yet-secretly-fun option: A 2018 Nissan Leaf. It has a range of 150 miles and a hatchback design that looks less funky than the original bug-eyed sub-compact. It accelerates quickly, it's relatively engaging to drive and it also has premium leather seats, radar-assisted cruise control and a decent Bose speaker system. Not bad for something close to $15,000 with only 33,000 miles!

Even though it's worth far less than our stately Volvo XC90, I genuinely have more fun zipping around town in the Nissan Leaf. There's the magic of the instant torque you get from its electric motor, the convenience of one-pedal driving (Nissan calls it "e-pedal") and its cherry red paint lets me pretend I'm having a mid-life Miata crisis like my middle school rhetoric teacher. Plus it can easily fit a large toddler car seat and a booster for my six-year old, and it has enough trunk space to deal with massive grocery hauls. Thank god I didn't get a Prius.

Devindra Hardawar for Engadget

Why are used EVs so cheap?

Many EVs just don't hold their value — you can blame the fast-evolving EV components and consumer uncertainty for that. But that also means you can find gently used models for far less than their list price. If I was less responsible and pushed my budget a bit higher, I'd absolutely consider a recent Hyundai Ioniq 5 for around $25,000. It's well-reviewed, and it looks like an '80s retro-future hatchback. What's not to love?

(And yes, you could also look for used Teslas if you want. I can't vouch for the quality of that brand, and personally I wouldn't recommend getting stuck in its ecosystem.)

You can find even deeper discounts for less popular cars, like the Polestar 2 (which would honestly look great in my driveway next to its Volvo cousin). That luxury EV started at $61,000 at launch — but now it's easy to find used Polestar 2s for around $25,000.

No matter which used EV you're looking at, be sure to check out its battery health level. Most early EVs relied on air cooling for their batteries, and their chemistry isn't advanced as modern cars, which means degradation can be common. You can typically find a battery health indicator in a car's settings, but OBD sensors and apps like LeafSpy may provide a more accurate sense of their longevity.

So long, EV tax credit

The Biden-era EV tax credit can also shave off up to $4,000 from select used EVs and $7,500 from new models, but unfortunately thanks to Trump's "Big Beautiful Bill" it's likely to be discontinued at the end of September. I've seen some dealers highlight cars eligible for tax credits, and that's also true for online stores like Carvana. Just be sure to check the IRS requirements — notably, the new vehicle credit only applies for individuals earning less than $150,000 and married couples filing jointly who earn less than $300,000.

The used vehicle credit is even more restrictive, as it only applies to individuals earning less than $75,000 and married joint filers earning under $150,000. Additionally, qualifying EVs have to be priced under $25,000, and must be 2023 models or older. You'll also have to buy the used EV from a dealer — personal sales don't apply.

How I learned to deal with range anxiety

One major reason older EVs have gotten cheaper is that they often offer relatively low driving ranges. The 2021 BMW i3 can run up to 153 miles, but older models topped out at 85 miles (there are also Range Extender models that use a small gas engine to slowly recharge the battery). My 2018 Leaf tops out at 150 miles, but there are also "Leaf Plus" models that can reach up to 226 miles.

Those numbers are a long way off from the 300-miles or so we expect from new EVs and gas cars, but I'd also argue the shorter range isn't a huge deal for many people. US DOT data tells us that 95 percent of trips in personal vehicles cover less than 31 miles, and the average driver travels 37 miles per day. That makes low-range EVs ideal as secondary vehicles for local driving.

Between day-care pickup, grabbing groceries and other local errands, I rarely drive more than 20 miles a day in my Leaf. That typically eats up only 10 to 15 percent of charge per day, depending on how much I need to blast the AC to deal with Georgia summers.

Now I won't deny that you wouldn't want to go road tripping with a low-range EV, especially with America's messy charging infrastructure. Low-range EVs aren't for everyone. But if that's your worry, I'd just recommend avoiding the cheap sub-$15,000 used EVs. You'll find plenty of models with bigger batteries near $25,000.

Devindra Hardawar for Engadget

Charging might be easier than you think

If you can string a 25 foot power cord outside, you can easily Level 1 trickle charge an EV. And for moderate drivers, that may be all they need to keep their car juiced up. If I plug in my Nissan Leaf at 5PM, it can typically charge up by 40 percent by 8AM, thanks to its small battery. For larger EVs like the Kia EV9, I can usually get 10 to 15 percent of a charge overnight.

Of course, things become more complicated if you're in your car all day and need faster charging, or if extreme weather causes your battery to drain faster than usual. At that point, you'll either have to seek out a public charging point, or get a Level 2 charger installed at home. Neither option is especially difficult, but they're more annoying than simply going to a gas station for a few minutes. I wouldn't be surprised if that's the big stumbling block pushing mainstream shoppers away from EVs.

From what I've seen, though, many people are just hesitant to break their existing habits. If you have the ability to install a Level 2 charger in your garage, it's not especially difficult or expensive (though running an extra power line could be a big spend). And EV chargers are also popping up like weeds in shopping centers, so it may not be that tough to park up and charge while running errands.

In my case, I’m perfectly fine running a Level 1 charger to an outlet near my front door. That does mean I’ll occasionally have a thick electrical cord draped across my front porch (something I’m sure my wife just loves), but I can live with it for now. I do plan to get a Level 2 charger installed eventually though — it’ll make testing EVs a lot easier, and I can prepare myself for a more spacious family EV to replace our gas guzzling SUV.

This article originally appeared on Engadget at https://www.engadget.com/transportation/evs/its-the-perfect-time-to-buy-a-cheap-used-ev-123015687.html?src=rss https://www.engadget.com/transportation/evs/its-the-perfect-time-to-buy-a-cheap-used-ev-123015687.html?src=rss