Pricing for brand new electric vehicles may also be daunting for plenty of consumers. But increasingly more EVs are turning into to be had at the used car marketplace, and that’s growing higher alternatives for purchasing a lower-priced used EV. There’s additionally an extra incentive to buy a used EV that prices not up to $25,000 because of an to be had federal tax credit of as much as $4,000.
To qualify for the federal tax credit, the EV you’re thinking about will have to meet those standards: 1) It will have to be bought from a certified dealership; 2) the sale worth will have to be $25,000 or much less; and three) it will have to be a minimum of two style years outdated from the present yr. The credit is calculated at 30% of the sale worth and caps out at $4,000. To be transparent, this isn’t a bargain at the worth, it’s a nonrefundable tax credit that may most effective be used for those who owe federal taxes the yr the EV is bought.
To lend a hand you make a decision what choices you have got for a used EV, the auto mavens at Edmunds highlighted their most sensible 5 choices for a used EV available to buy for not up to $25,000. We based totally our record on Edmunds rankings once they have been new and on their present availability. The reasonable pricing we’ve indexed is in accordance with Edmunds July gross sales information.
NISSAN LEAF
Introduced for the 2011 style yr, the Leaf is the longest-running industrially produced electric car available on the market. This small hatchback is a perfect pick out for EV consumers on the cheap, and there are lots of used fashions available on the market with costs very much various because of its lengthy manufacturing run. The first era ran from 2011 to 2017 and supplied an EPA-estimated using fluctuate of 73 to 107 miles. The second-generation Leaf arrived in 2018 with significantly extra fluctuate. One drawback is that the Leaf’s CHAdeMO-style fast-charging port isn’t supported all over.
Average worth fluctuate for 2012-2022 fashions: $6,630-$23,816
CHEVROLET BOLT EV
When the Bolt EV hit the streets in 2017, it touted an excellent EPA-estimated using fluctuate of 238 miles and a budget-friendly ticket. On most sensible of that, it boasts a spacious internal, fast acceleration and plentiful tech options. The 2020 style had its fluctuate boosted to 259 miles. On the disadvantage, the 2017-2021 fashions, that are broadly to be had, have uncomfortable entrance seats and internal parts that appear and feel reasonable. Potential patrons must additionally test {that a} recall to deal with a battery hearth chance used to be carried out.
Average worth fluctuate for 2017-2021 fashions: $19,200-$24,120
BMW i3
Launching for the 2014 style yr, the i3 small hatchback featured a particular internal and nimble dealing with and introduced an to be had range-extending gasoline-powered generator. With it, EPA-estimated fluctuate used to be upward of 150 miles. The i3’s using fluctuate larger with more recent fashions. Although roomy inside of, the i3 most effective seats 4 passengers and doesn’t be offering a lot shipment room. Its reverse-hinged rear doorways are distinctive however may also be problematic in tight parking eventualities.
Average worth fluctuate for 2014-2018 fashions: $11,870-$22,335
HYUNDAI KONA ELECTRIC
The Kona Electric arrived in 2019 as a compelling new competitor because of its 258-mile using fluctuate, fun-to-drive nature, and lengthy record of usual options. Two of its few drawbacks come with tight rear seats and a small shipment space. Used Kona Electrics under $25,000 can be tougher to seek out than the primary 3 vehicles on our record as it’s more recent. Like the Bolt EV, the Kona Electric went via a an identical battery pack recall, so make certain it’s been finished if the only you need used to be affected.
Average sale worth for the 2019 style: $22,749
KIA NIRO EV
The Niro EV changed into to be had in 2019 together with its company sibling, the Hyundai Kona Electric. The Niro has a decrease EPA-estimated using fluctuate of 239 miles in comparison to the Kona Electric, however at the upside it has extra spacious rear seats. Like the Kona Electric, the Niro EV is a cast selection for an electric automotive. Sub-$25,000 fashions are available in the market however are most commonly restricted to 2019 fashions. Fortunately, the Niro EV wasn’t suffering from a battery recall.
Average sale worth for the 2019 style: $24,749
EDMUNDS SAYS
If new electric vehicles are too dear, then some of the used EVs above will most likely suit your finances, particularly if you’ll benefit from the federal tax credit. Try aiming for a licensed pre-owned car that may be offering prolonged guaranty and financing choices very similar to what’s introduced with a brand new automotive.
____
This tale used to be supplied to The Associated Press by means of the automobile web site Edmunds.
Michael Cantu is a contributor at Edmunds and is on Instagram.