If you’ve been thinking about going green, but the newest electric vehicles (EV) are too expensive, older, used electric cars are being sold at affordable prices similar to used gasoline-powered vehicles.
Right now is a good time to purchase a used EV because demand is low. There are some quality used electric cars on the market for less than $20,000. According to NADA Guides, a 2015 Nissan Leaf with 30,000 miles on it originally sold for $29,000, but the average retail price is around $10,250 now. In fact, the current average price of a used EV — $19,639 — is lower than the current average price of a comparable gasoline-powered used car.
Another money saver, obviously, is that you also won’t have to worry about the cost of gas. A case in point: the Environmental Protection Agency (EPA) compared a pre-owned Nissan Leaf and Toyota Corolla from the 2015 model year and found that the Leaf saved potential owners almost $750 in annual fuel costs. When you do the math, in five years, that buyer has banked $3,750 in savings.
Less Mileage, Less Maintenance
Because EV vehicles are simpler, there's typically less wear and tear. Driving electric means avoiding costly maintenance procedures, such as oil changes and replacing air filters, spark plugs, and drive belts.
Instead of gas, there's a battery pack running the car. Some potential buyers may worry about the battery not lasting past 100,000 miles (especially if it’s a used EV). But most automakers cover the battery packs under warranty for at least eight years, and it’s very likely the battery will last well past that 100,000-mile mark.
Electric cars have become a popular, green alternative in the automotive market. Even though newer models come with a hefty price tag, used electric cars won’t break the bank and offer similar benefits.
If you’re looking to go green and get an electric car, but bad credit is in the way, let Auto Credit Express help. We work with a nationwide network of special finance dealers who have the lenders willing to work with people in challenging credit situations. Get started today, so we can match you with a local dealer. Simply fill out our online auto loan request form.