The Plummeting Value Of Used Electric Cars

June 24, 2013 in Daily Bulletin

Plug-in electric cars seem to lose value much faster than standard gas powered cars – attracting lower bids from those looking to purchase a second-hand car. Brad Tuttle looked at some of the reasons why:

  • The depreciation statistics are somewhat misleading, since they assume that the full price was paid for the car. However when purchasing electric cars individuals can qualify for tax credits of up to $10,000.
  • New electric vehicles are also very aggressively priced at times being almost as cheap as a second-hand car.
  • Purchasers of second-hand electric vehicles usually have range anxiety – the concern that older electric cars won’t be able to travel as fast on a single charge.

Read more about the used electric-vehicle market over here.

Source: Time