A used EV can be a wonderful choice if you're looking for a used car, even if you have bad credit! According to the latest Experian State of Automotive Finance Market report, 88% of cars on the road are 8 years old or newer, and plenty of them are electric vehicles.
Used EVs continue to make up a growing part of the used car market as more automakers turn to greener options. Even though new EVs can start around $19,000 more on average than a traditional gasoline engine vehicle, used EVs can be surprisingly affordable, since EVs don't hold value the same way as traditional vehicles.
Many electric vehicles can be found in the $10,000 to $30,000 range, but there's a surprising number of models that can be found for under $10K.
Since EVs don't have as many moving parts as a standard vehicle, there's less to maintain, no fluids to change, and little to budget for in terms of upkeep costs. The things that impact used EV values the most are typically battery capacity and driving range. Just like anything else with a rechargeable battery, they lose the ability to carry as full of a charge over time. With less charge comes less drive time between charges.