Edmunds: Here's what to buy as used EV prices continue to drop
If new car prices look daunting, then consider a used electric vehicle
By MICHAEL CANTU
Published - Aug 21, 2024, 07:40 AM ET
Last Updated - Aug 21, 2024, 07:40 AM EDT
Now is a great time to purchase a used electric vehicle. The average price for a used EV has dropped about 20% compared to this time last year, according to Edmunds transaction data. To top it off, you can qualify for a federal tax credit of up to $4,000 if you purchase an EV for $25,000 or less. To help with your search, Edmunds’ car experts have rounded up five of their favorite used EVs. The average prices below are what you can expect to pay at a nationwide no-haggle dealership such as CarMax or Carvana.