Buying a Used Electric Vehicle: The Pros and Cons You Should Know

Buying a Used Electric Vehicle: The Pros and Cons You Should Know

Buying a used car has its advantages and benefits, but buying a used electric vehicle can be a bit different from buying a conventional car. While new EVs offer cutting-edge technology and maximum range, pre-owned EVs present a fascinating option for budget-conscious buyers looking to go green. 

If a used electric car satisfies your needs and expectations, buying a used electric vehicle instead of a new one can save a lot of money. In the used market, used electric vehicles—especially older models with a limited range—are usually fairly inexpensive.

However, purchasing a pre-owned EV comes with unique considerations. These are things you should know and consider before diving into the world of pre-owned EVs. In this article, let’s explore the key considerations, advantages, and potential drawbacks of buying a used electric vehicle.

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Pros of Buying a Used EV

Lower Purchase Price

One of the most compelling reasons to consider a pre-owned EV is the significantly lower upfront cost compared to new models. Thanks mostly to fast-growing technology and battery upgrades, electric vehicles usually lose value faster than their gasoline-powered equivalents. For pre-owned EV buyers, this depreciation helps them to get an EV at a fraction of its original cost.

For example, a three-year-old electric vehicle might be available for 40–50% less than its original MSRP, making it a financially attractive option for those who want to experience electric driving without a small budget. This price difference can be especially significant for luxury EVs, where depreciation can be even steeper.

Buying a Used Electric Vehicle: The Pros and Cons You Should Know

Reduced Environmental Impact

Choosing a pre-owned EV helps you to extend the life of an existing car and save the environmental expenses related to building a new one. Although all electric vehicles have a smaller carbon footprint when running than gas-powered cars, choosing a pre-owned model drastically lowers your overall environmental effect.

Particularly with their batteries, the manufacturing of electric vehicles does call for large amounts of materials and energy. Buying a used electric vehicle lets you effectively amortize this initial environmental cost over a longer period, therefore optimizing the vehicle’s positive environmental impact.

Lower Maintenance Costs

Electric vehicles have fewer moving parts than traditional internal combustion engine cars, which translates to reduced maintenance needs and costs. When buying a pre-owned EV, you can expect to save on routine maintenance expenses such as oil changes, spark plug replacements, and timing belt services.

The simplicity of the electric drivetrain means there are fewer components that can wear out or fail. Brake wear is also typically less in EVs due to regenerative braking systems, which can further reduce maintenance costs over time. However, it’s important to note that while general maintenance costs are lower, specialized EV repairs may be more costly because of the requirement for specific technicians and parts.

Access to HOV Lanes

In many regions across Canada, electric vehicle owners enjoy the perk of using high-occupancy vehicle (HOV) lanes, even when driving alone. This benefit often transfers with the vehicle, allowing pre-owned EV buyers to take advantage of reduced commute times and less congested driving.

The HOV lane access can be a significant time-saver for commuters in urban areas, potentially saving hours of travel time each week. It’s worth checking local regulations, as some areas may have time limits or require special permits for EV access to HOV lanes.

Incentives and Rebates

While many EV incentives are targeted at new vehicle purchases, some regions in Canada offer incentives for pre-owned EV buyers as well. These can include tax credits, rebates on home charging equipment installation, or reduced registration fees. 

For example, Ontario offers a scrappage incentive run by a non-profit organization called Plug ‘N Drive together with a rebate of up to $2,000 available for used fully electric vehicle purchases. Research your local and municipal incentives to see what benefits might be available for pre-owned EV purchases in your area.

Cons of Buying a Used EV

Battery Degradation Concerns

Battery condition is the most important issue when shopping for a pre-owned EV. EV batteries naturally degrade over time and with use, potentially reducing the car’s range. Older models may show more obvious range loss, while newer EVs have advanced battery management systems to reduce degradation.

It’s important to understand that battery degradation is not linear and can vary significantly between different makes and models. Factors such as climate, charging habits, and overall usage patterns play a role in battery health. When considering a pre-owned EV, try to obtain a battery health report or have the vehicle inspected by a qualified technician to assess the battery’s condition.

Outdated Technology

Technology for electric vehicles is developing quickly. Earlier models could lack new driver aid systems, faster charging capability, or greater range—features available in more recent EVs. Additionally, infotainment systems in older EVs might not support the latest smartphone integration options like Apple CarPlay or Android Auto.

Given the speed at which technology is developing in the EV industry, a car barely a few years old could be far behind the curve in terms of range, charging speed, and features. This is particularly noticeable in areas like battery heat management, which has advanced significantly recently and influences both range and lifespan of batteries.

Limited Model Selection

Since the used EV industry is still very new, the range of models accessible may be smaller compared to that of conventional used vehicles. To locate a used EV that meets your budget and needs, you might have to sacrifice particular features or choose a less-known model.

In certain locations where EV adoption has been slower, this limited choice of pre-owned EV can be more evident. You might have to expand your search area or be ready to visit to locate the right used EV for you.

Charging Infrastructure Compatibility

Older EV models might charge slower rates or might not be compatible with the newest fast-charging stations. This can affect the vehicle’s practicality depending on long-distance trips or quick charging requirements.

For instance, early EV models might not support DC fast charging at all or may use outdated charging standards that are becoming less common. It’s crucial to research the charging capabilities of any used EV you’re considering and compare them to the charging infrastructure available in your area and along your typical travel routes.

Potential for Higher Insurance Costs

Sometimes the cost of insurance for electric vehicles is more than for equivalent gas-powered vehicles. This is usually a result of EV components—especially the battery—having higher repair and replacement prices. When budgeting for a used EV, be sure to get insurance quotes to understand the total cost of ownership.

Factors to Consider When Buying a Used EV

Battery Health and Warranty

Evaluating the state of the battery is really important when buying a used electric vehicle. Many manufacturers provide extended warranties on electric vehicle batteries, which might be passed on to the next owners. Review the remaining warranty coverage and, if at all possible, have the battery condition professionally inspected.

All EV batteries lose some capacity over time and with use. The rate of degradation varies by model; most modern EVs keep 70–80% of their initial capacity after 8–10 years. While some manufacturers offer comprehensive battery health checks, others could call for an evaluation visit to a dealership. Knowing the current capacity and degradation rate of the battery will enable you to decide with knowledge and project the reasonable future performance of the vehicle.

Charging Options

The most convenient option for EV owners is to charge at home. If you own a home with a garage or driveway, installing a Level 2 charger is highly recommended. This allows you to fully charge most EVs overnight.

Home charging might not be possible if you live in an apartment or have off-street parking. Here you will have to rely more on public charging infrastructure. If so, find out whether charging stations are suitable and available in your neighbourhood. Some older EVs may have limited fast-charging capabilities, which could impact your ability to take longer trips. 

Make sure you map out your regular driving routes and identify convenient charging locations. The availability of public charging can greatly impact the usability of a used EV.

Range Requirements

Analyze your daily driving needs and make sure the pre-owned EV you are looking at will comfortably satisfy those needs even with some battery deterioration. Keep in mind that actual range varies based on driving conditions, climate, and battery age. Conservative estimates are:

60-70% of rated range in winter conditions

80-90% of rated range for highway driving

It’s wise to choose a vehicle with more range than you think you need, as this provides a buffer for battery degradation and varying driving conditions. Consider how your range needs might change in the future as well, such as if you anticipate a change in commute or lifestyle.

Consider Charging Speed and Compatibility

Not every EV charges at the same rate. When assessing used models, consider the DC quick charging capacity factors:

Older EVs may have slower DC fast charging or lack it entirely

Newer models can often charge at 100+ kW, adding significant range in 30 minutes

Some affordable used EVs like the Nissan Leaf use the less common CHAdeMO standard

Service and Support

Research the availability of EV-certified service centers in your area. Some older EV models may have limited support options, which could complicate maintenance and repairs.

Check if local dealerships or independent mechanics have experience with the specific make and model you’re considering. Furthermore, look at the availability and pricing of replacement parts since some parts for older or less prevalent EV models could be more difficult to find.

Charging Cable and Equipment

Verify that the used EV comes with all necessary charging cables and equipment. Replacement charging cables can be expensive; so making sure you have the right accessories with the car will help you save money and headache.

Software Updates

Inquire about the future update capability and software update history of the car. Important software upgrades may no longer be available to some older EVs, which would affect security, features, and potential performance.

Buying a used electric vehicle can be an excellent way to enter the world of electric mobility at a lower cost while still enjoying the benefits of zero-emission driving. You may make a wise choice that strikes a balance between cost savings and performance and durability by closely examining the options, deciding your needs, and carefully evaluating the condition of any used EV you are looking at. The value proposition of used electric vehicles is probably going to get better as the EV market develops, which will make them an even more appealing choice for both budget-conscious and environmentally-minded consumers.

Remember that the EV market is rapidly evolving, and what might be considered a drawback today could be less of an issue in the future as charging infrastructure expands and battery technology improves. Ultimately, a used EV can offer a unique combination of affordability, environmental benefits, and cutting-edge technology. By weighing the pros and cons carefully and doing your due diligence, you can find a pre-owned electric vehicle that meets your needs and provides an exciting, sustainable driving experience for years to come.

Carnex is the top online EV expert in Canada for buying and selling used electric vehicles in Ontario.

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Buy or Sell A Used Electric Vehicle in Ontario: Here Is What You Need To Know

As always, Carnex can provide you with detailed information about buying and selling used electric vehicles in Ontario.

Carnex is the top online EV expert in Canada for buying and selling used electric vehicles in Ontario.

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