The cost of fueling a traditional vehicle continues to be a significant concern for many drivers. However, as highlighted in the video above, there’s a silver lining for those looking to curb their expenses and embrace sustainable driving: the market is currently seeing a surge of gently used electric vehicles (EVs) at incredibly attractive prices. Many of these aren’t just budget-friendly; they’re genuinely outstanding vehicles that were once out of reach for the average buyer.
For years, new EVs, especially luxury models, commanded premium prices. This led to a predictable cycle of depreciation, particularly as newer models with improved technology entered the market. While this might be a concern for original owners, it presents a massive opportunity for savvy used car buyers. The depreciation of these early luxury EVs means that vehicles criticized for their original “range per dollar” ratio or high entry cost are now becoming best used EV bargains, offering an exceptional blend of premium features, performance, and advanced technology for a fraction of their initial price.
This shift in the used EV landscape makes it a prime time to consider going electric, even for those who might typically shy away from premium brands. Instead of looking at cars that were cheap when new – like some Nissan Leafs, Chevy Bolts, Kia Niros, or Hyundai Kona Electrics – the real value lies in options that were initially high-end. The price difference between these former budget EVs and a higher-end, used luxury EV with superior range, faster charging, and more advanced features is often surprisingly small on the used market. This means you can upgrade to a more sophisticated, comfortable, and capable vehicle for just a few thousand dollars more, rather than the tens of thousands that separated them as new models.
The Shifting Landscape of Electric Vehicle Depreciation
Understanding EV depreciation is key to unlocking these deals. While all new cars depreciate, EVs, particularly early luxury models, experienced significant drops. This was due to several factors:
- Rapid Technological Advancement: Battery technology and charging speeds have evolved quickly, making older models seem less competitive on paper despite still being very capable.
- Government Incentives: New EV buyers often benefited from federal tax credits and state incentives, effectively reducing the initial purchase price and influencing the perceived value of used models.
- Supply and Demand: As more new EVs became available, the used market saw an influx, driving prices down.
However, this trend has stabilized somewhat, and the current market offers a sweet spot where depreciation has largely settled for many of these premium used EVs. This allows buyers to enter the market at a point where they benefit from the steepest part of the depreciation curve having already occurred, securing a truly exceptional value for a sophisticated vehicle.
Spotlight on Top Used EV Bargains
Let’s dive into some of the most compelling electric vehicles that are now exceptional value propositions on the used market, building upon the insights shared in the video.
Audi E-tron: Luxury Redefined at a Steal
The Audi E-tron, particularly models from 2019-2023, stands out as an outstanding luxury EV that initially faced criticism for its range-to-price ratio. Today, that math has dramatically changed. Once a $70,000 to $80,000 SUV, E-trons can now be found for around $20,000, with some even selling for less. This represents a significant discount, transforming it into one of the most attractive used EV bargains available.
Beyond its newfound affordability, the E-tron truly excels in comfort and refinement. Its superb seats, exceptional ride quality, and remarkably quiet interior, especially in top trims featuring acoustically laminated glass, create a serene driving experience. For those who appreciate physical controls, the E-tron offers a welcome balance: it features a modern interior with screens, yet retains enough physical buttons to feel intuitive and not overwhelming, unlike some of Audi’s newer, screen-heavy designs. Furthermore, the E-tron was ahead of its time with features like wireless Apple CarPlay available even in its 2019 models. Its size, positioned perfectly between the Q5 and Q7, provides ample space for passengers and cargo without the parking challenges of larger SUVs. While it might not boast one-pedal drive mode or class-leading range compared to some newer EVs, its thermal efficiency ensures good performance even in colder climates, and its sheer comfort and luxury for the price are nearly unmatched.
BMW’s Electric Prowess: i4, i5, and iX
BMW has consistently delivered impressive EVs, and their used models now offer an incredible “car goodness per dollar ratio.” Having lived with these cars through extensive road tests, Edmunds experts can attest to their quality and the substantial value they now represent.
BMW i4: Sporty, Practical, Affordable
The BMW i4 is a compelling choice for those seeking a blend of sportiness and practicality. This smaller, agile EV offers a surprisingly smooth and quiet ride, coupled with a generous amount of cargo space for its class. Original complaints often focused solely on the cost, but now, rear-wheel-drive models are readily available for under $30,000. For performance enthusiasts, the more powerful i4 M50, boasting over 500 horsepower, can be found for less than $40,000, offering exhilarating performance that was once far more expensive.
BMW i5: Elevated Luxury and Comfort
If luxury and comfort take precedence over outright sportiness, the BMW i5 is an exceptional choice. This vehicle elevates the driving experience with an exquisite interior, impressive range, and unparalleled quietness. It’s a car that truly grows on you, earning Edmunds’ top-rated status. While not as cheap as some other options on this list, with prices ranging from $40,000 to $60,000 depending on the configuration (single-motor RWD, dual-motor AWD, or the powerful M60), the i5 delivers a luxury experience comparable to vehicles at any price point.
BMW iX: The Unconventional Luxury SUV
The BMW iX, another Edmunds top-rated winner and former long-term test vehicle, might have polarizing looks, but its substance is undeniable. Inside, it boasts a world-class interior with premium materials and design. It offers generous space, striking a fantastic balance between supple ride quality and engaging sporty handling. All BMW EVs mentioned also feature excellent driver assistance systems. Crucially, the iX provides the coveted SUV form factor and, surprisingly, often comes at a lower price point than other BMWs on this list while offering the most range, as per Edmunds’ EV range tests. The opportunity to acquire a certified pre-owned iX with low mileage for almost half its original price, as one staff member did, highlights the remarkable depreciation and resulting value for this innovative luxury SUV. It’s truly one of the most significant used EV bargains for an SUV.
Cadillac Lyriq: Striking Design Meets Plush Comfort
The Cadillac Lyriq, GM’s first electric SUV, is easily overlooked but shouldn’t be. Its striking exterior design makes it one of the best-looking EVs on the road today. More importantly, at current used prices, it becomes an exceptionally smart purchase. The Lyriq delivers the plush ride quality and quiet cabin expected from a luxury vehicle. Its interior materials and design are every bit as premium as its stunning exterior suggests, providing a truly upscale experience.
A standout feature is Super Cruise, Cadillac’s advanced hands-free driving assistance system, which offers unparalleled comfort on long highway stretches. The Lyriq also provides good range for modern standards, and uniquely among GM’s other EVs, it includes Apple CarPlay – a huge plus for many drivers. While its performance isn’t overtly sporty and its handling can feel a bit lethargic due to soft suspension and slow steering, these characteristics align with its focus on comfort and cruising. The ability to purchase a Lyriq for less than the price of a mid-level new Toyota RAV4 underscores its tremendous value as a used luxury EV.
Hyundai Ioniq 5 & Ioniq 6: Pioneers in Fast Charging
For several years, the Hyundai Ioniq 5 and its sedan sibling, the Ioniq 6, have been default recommendations for EV buyers. Their continued relevance in the used market stems from being remarkably ahead of their time, particularly in charging speed and efficiency. The Ioniq 6, for instance, holds the record as the fastest-charging car Edmunds has ever tested, adding an astounding 100 miles of range in just six and a half minutes. This incredible charging capability, combined with good overall range, significantly enhances the ownership experience.
Hyundai has also added Supercharger compatibility for these models, with backward compatibility via an adapter. This means even early Ioniq 5 or 6 owners can access Tesla’s extensive and reliable Supercharger network, a considerable advantage. Both models are praised for their comfort, smooth ride, and user-friendly technology, including features like a digital key and plug-to-charge functionality. While cargo space can be somewhat limited and outward visibility isn’t perfect, especially for an SUV like the Ioniq 5 with its modest ground clearance and towing capacity, their average used price of around $25,000 (and even less for higher-mileage examples) makes them undeniable used EV bargains that offer modern technology and efficiency at an incredible price.
Tesla Model 3 & Model Y: Range, Network, and Innovation
The Tesla Model 3 often comes to mind when one thinks of an EV, and for good reason. While newer builds offer refinements, earlier versions, despite some rough edges, present an undeniable value proposition today. Their range is exceptional; it’s nearly impossible to find a used EV with over 300 miles of range at its price point. Edmunds’ own testing recorded an impressive 345 miles from a 2021 Model 3 Long Range.
The universal access to Tesla’s Supercharger Network remains a significant selling point, providing the most widely available and reliable charging infrastructure in the industry. Buyers of Model 3s built after 2019 can also access Tesla’s “Full Self-Driving (Supervised)” feature, and even older models can be upgraded. The excellent powertrain, spacious trunk, and screen-centric interior that still feels modern are further advantages. Tesla’s consistent exterior design means older models largely retain a contemporary look. The Model 3 Performance has historically offered an industry-leading performance-to-dollar value, and this is even truer now that its used prices have plummeted. For those needing more space, the same value proposition largely applies to older Model Ys, albeit with slightly different pricing structures. These factors firmly establish the Model 3 and Model Y as strong contenders in the category of used EV bargains.
Sealing the Deal: Your EV Bargain Q&A
Why is now a good time to consider buying a used electric vehicle (EV)?
The market is currently seeing many gently used EVs, especially luxury models, at very attractive prices due to significant depreciation. This makes it possible to get premium features and technology for much less than their original cost.
What caused the prices of used luxury EVs to drop so much?
Prices dropped due to rapid technological advancements in batteries, government incentives for new EVs that influenced perceived value, and an increased supply of used models as more new EVs became available.
What kind of used EVs offer the best value?
The best value is often found in used high-end or luxury EVs that were initially expensive, rather than models that were cheap when new. These offer superior range, faster charging, and more advanced features for a small price increase over budget options.
Can you give examples of specific used EV models that are good bargains?
Some top used EV bargains mentioned include the Audi E-tron, various BMW i-series models (i4, i5, iX), the Cadillac Lyriq, Hyundai Ioniq 5 and Ioniq 6, and the Tesla Model 3 and Model Y.
