Buying A Used Electric Vehicle: What You Need to Know

Buying A Used Electric Vehicle: What You Need to Know

Canada has experienced a considerable surge in EV adoption in recent years, with government incentives and improved charging infrastructure playing crucial roles. As more EVs enter the market, a growing selection of used electric vehicle models becomes available. 

Buying a used electric vehicle can be an attractive and more affordable option for many Canadian consumers today. However, there are some unique considerations when shopping for a used electric vehicle. This guide will walk you through the pros and cons with key factors to evaluate when buying a used electric vehicle.

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

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

Learn more about the benefits of buying or selling used electric vehicle from Carnex by visiting Carnex.ca today! We believe that all clients deserve to know the good and bad of what they’re buying. Because we wanted to know these when we bought cars. That’s why at Carnex.ca, we will proudly display every detail every step of the way.

Pros of Buying a Used Electric Vehicle in Canada

Cost Savings

One of the most significant advantages of opting for a used EV is the potential for substantial cost savings. New electric vehicles often come with a hefty price tag, but their value might depreciate quickly in the first few years. This depreciation works in favour of used car buyers, who can acquire a relatively new EV at a fraction of its original cost.

Lower Purchase Price

Used EVs are generally much more affordable than their new counterparts. This lower entry price makes electric vehicle ownership accessible to a broader range of consumers.

Lower Maintenance Costs

Electric vehicles generally have fewer moving parts compared to internal combustion engine vehicles, which can lead to lower maintenance costs over time. With no oil changes, fewer fluids to monitor, and regenerative braking systems that reduce wear on brake pads, EVs typically require less frequent servicing and save your money and valuable time.

Environmental Benefits

Choosing a used EV allows environmentally conscious consumers to reduce their carbon footprint without contributing to the production of a new vehicle. The carbon emissions associated with manufacturing have already occurred, making a used EV an even greener choice compared to buying a new one. By purchasing a used EV, you’re extending the life of an existing vehicle and further lowering your carbon footprint.

Access to HOV Lanes and Parking

In many Canadian cities, EV owners enjoy privileges such as access to high-occupancy vehicle (HOV) lanes and designated parking spots. These perks are often available regardless of whether the EV is new or used.

Buying A Used Electric Vehicle: What You Need to Know

Cons of Buying a Used Electric Vehicle in Canada

Battery Degradation Concerns

The most significant concern when purchasing a used EV is the condition of the battery. Over time and with use, EV batteries can lose capacity, resulting in a decrease in the vehicle’s range. Nevertheless, battery degradation can vary widely depending on factors such as climate, charging habits, and overall usage.

Limited Model Selection

The used EV market in Canada is still developing, which means the variety of available models may be limited compared to traditional used car markets.

Older Technology

Earlier EV models may lack some of the advanced features and improved range of newer versions. This could mean settling for older technology or reduced performance.

Charging Infrastructure Challenges

While Canada’s charging network is expanding, it may not be as comprehensive as in some other countries, particularly in remote regions. Older EVs with shorter ranges could worsen concerns about finding charging locations for longer drives. 

Winter Performance

Canada’s harsh winters can pose challenges for EV owners, particularly those with older models. Battery performance can decrease in extremely cold temperatures, potentially reducing the vehicle’s range by up to 40% in some circumstances. Furthermore, using the vehicle’s heating system in winter can further impact battery life and range.

Key Factors to Consider

When buying a used electric vehicle in Canada, it’s crucial to conduct thorough research and take these factors into account:

Assessing Battery Health and Range

One of the most essential aspects of a used EV is the battery’s condition. The battery is an electric vehicle’s most expensive component, and its health has a direct impact on its range and performance.

EV batteries are designed to last 15-20 years, but they do gradually lose capacity over time and use. Most EVs will lose about 2-3% of battery capacity per year. After 5-7 years, an EV battery may have 10-20% less range than when new.

Therefore, checking battery health when buying a used electric vehicle is an important step. When evaluating a used EV:

• Research the original EPA-rated range for that specific model and year.
• Have the seller fully charge the battery before your inspection.
• Check the estimated range display when fully charged.
• Compare the current range estimate to the original EPA rating.
• Take an extended test drive to gauge real-world range.

Consider having the battery professionally inspected if you’re serious about purchasing. A 10-20% reduction in range after 5+ years is normal. Be cautious about automobiles that are degrading substantially more than expected for their age and mileage.

Understanding EV Battery Warranties

Most EV manufacturers offer 8-year/160,000 km warranties on their batteries in North America. When buying used, check if the battery is still under warranty for added peace of mind. It’s recommended to request a battery health report and consider models with transferable battery warranties.

Evaluating Charging Options

Unlike gas vehicles, charging infrastructure is a key consideration for EV owners. Evaluate your daily driving needs and the availability of charging stations in your area. When looking at a used EV charging option:

• Check the charging port type and compatibility with local public charging stations
• Determine whether home charging is practical for your living situation
• Investigate public charging options along your frequent driving routes
• Consider the vehicle’s maximum charging speed capability

Performance and Features

Consider how long you intend to keep the car and whether its capabilities and features will fulfill your needs in the coming years. Beyond the EV-specific factors, assess the vehicle like you would any used car:

• Check for signs of wear, damage, or poor maintenance
• Research reliability ratings and common issues for that model
• Test drive to assess performance, handling, and comfort
• Verify that all features and tech systems are functioning properly

Factor in how Canada’s climate might affect the EV’s performance, especially if you live in a region with harsh winters.

Pricing and Value

Used EV prices can vary significantly depending on factors such as:

• Vehicle age and mileage
• Battery health and remaining range
• Original MSRP and features
• Local EV demand

Check out comparable listings to make sure you’re receiving a reasonable price. When evaluating value, take into account the overall cost of ownership, including possible energy savings.

Buying a used electric vehicle in Canada offers a mix of advantages and challenges. Many Canadian consumers are attracted to used EVs because they provide significant financial savings, environmental benefits, and lower maintenance expenses. However, concerns about battery degradation, restricted model variation, and charging infrastructure must be carefully considered.

As the EV market continues to mature in Canada, the used electric vehicle sector is likely to expand, offering more choices and potentially mitigating some of the current drawbacks. For those willing to do their homework and understand the unique aspects of EV ownership, a used electric vehicle can be an excellent entry point into the world of electric mobility.

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

Learn more about the benefits of buying or selling used electric vehicle from Carnex.

Check out Carnex.ca today and get an instant quote for your used electric vehicle just in a few minutes!

Read More:

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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.

Checking out the best selling electric vehicles from Carnex inventory today!

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Learn more about the benefits of buying from Carnex. We believe that all clients deserve to know the good and bad of what they’re buying. Because we wanted to know these when we bought cars. That’s why at Carnex.ca, we will proudly display every detail every step of the way. Browse all the best cars, automobile buying tips, auto insurance, young drivers, driving techniques, auto industry trends from Carnex Blog.