With the automotive industry’s movement toward electric and hybrid vehicles, more and more of us are also looking to make the switch. However, while the used petrol and diesel market is vast and relatively simple to navigate if you know what you’re looking for, the used market for EVs can feel confusing at the best of times. Is it advisable to buy a used EV? Should you really splash out a little more for a brand-new one? We’re looking at the pros and cons to help you decide the best option for you.
PRO – More Cost Accessible
When it comes to buying a used vehicle, we expect to see prices at least a little bit lower than the from-new price and this is very much the case for electric vehicles. Electric and hybrid cars can be expensive to buy brand new, particularly with the reduction in help available from the government, and so a used EV could be a more cost-effective alternative. However, it’s worth noting that while most standard petrol and diesel vehicles lose 20% of their value as soon as they’re driven out of the showroom, electric and hybrid cars hold their value a little better, so it may be worth finding one that is 1-2 years old.
CON – Older Batteries May Have Degraded
While the battery on an electric vehicle is hardly going to drop its capacity drastically after a few years, however, you will see some level of degradation depending on how old the vehicle is. Typically, EVs lose around 2% of their capacity or range each year depending on how well they have been maintained, and so you could still have over 90% of the battery’s capacity remaining even in a 5-year-old used electric vehicle. Technology has also improved over the years, meaning that cars of around 1-3 years old will likely have better batteries that hold their capacity and quality for longer.
PRO – Low Running Costs
With petrol and diesel prices seemingly staying in the higher range, electric vehicles are looking more and more attractive for those on more limited budgets. While your home energy costs will of course play a part, it’s still expected that charging your car at home overnight or at local charging stations will be somewhat cheaper than filling up a petrol or diesel tank.
CON – Driving Range Is Lower
EV technology has come a long way, which is definitely a great thing for the industry! What that does mean, however, is that older used EVs will typically have a lower range or smaller battery capacity than newer alternatives. If you only plan to take short trips and have convenient access to charging points or your own charging point at home – on a driveway, for example – this might not be a problem. If you’re typically driving over 60 miles regularly or don’t have easy access to a charger, however, it may be worth looking into deals available on newer alternatives, or at self-charging hybrids.
PRO – Extended Warranties Could Still Be In Place
Many electric vehicles come with some form of extended warranty that remains in place even if the car passes from owner to owner. The most expensive and cost-concerning part of a used EV is the battery itself, which is why an extended warranty on the battery could give you peace of mind when it comes to buying a used car. The battery alone is typically covered by a warranty of 7-8 years, or 100,000 miles, which is considerably high for those who may not use the car for long journeys.
CON – Charging Infrastructure Is Still Growing
Charging infrastructure in the UK seems to be improving each and every day with chargers popping up around local areas across the country, however, it’s far from perfect. While your local supermarket or shopping centre might’ve installed a handful of charging points, this isn’t always convenient for everybody. There are still a number of areas in the UK where charging points can be few and far between and for those making long journeys or who live in these areas, it may not be feasible or convenient to make the switch to electric just yet.
Whether you’re still holding onto your petrol or diesel car or you’re ready to make the switch, we are on hand to help with any servicing or repairs you may need. Simply get in touch with a member of our team for more information.