Electric vehicles (EVs) are still so new to the market that buying a used or second-hand EV has only recently become an option. But as the latest figures show, it’s an option many prospective EV owners are now exploring.
The biggest downside of electric vehicles has always been their price. Even with the government grants included, they are still more expensive to buy than new petrol and diesel cars. The growing used electric vehicle market is a great way to bypass those upfront costs and drive the greenest vehicles without being left out of pocket.
But is buying a used electric car a good idea, or when it comes to things like warranties and battery life, would you be better off spending more and buying new? We’ll look at the latest used EV stats and run through some of the main considerations.
Currently, demand for used electric vehicles is soaring. Figures from the Society of Motor Manufacturers and Traders (SMMT) show that sales of used battery electric vehicles (BEVs) - those that run purely on electric power - rose from 6,625 to 14,586 in the first three months of 2022. That’s up a cool 120% on the same period last year.
It’s still early days for the used EV market, but the figures show that budget-conscious drivers want to snap up environmentally-friendly cars. This is backed up by a Motorparks survey, which found that three-quarters of UK drivers would consider buying a used electric car.
This decision will be different for everyone depending on your budget, your circumstances and, to a certain extent, your risk tolerance - as new EVs come with lengthy warranties. Here are some of the pros and cons of used electric car ownership compared with new EVs to help you make up your mind.
Undoubtedly the biggest benefit of buying a used rather than a new electric car is the cheaper purchase price. Around 20% of a new car’s value is lost as soon as you drive it out of the showroom. Although used electric vehicles hold their value better than petrol and diesel cars, you can still make a big saving by buying an EV that’s a couple of years old.
As an example, you can expect to pay just over £30,000 for a brand new Renault ZOE Iconic R135, while the same car that’s just a year old with 4,000 miles on the clock will set you back around £23,000. If you’re on the lookout for a budget electric vehicle, you will have to accept older technology and a smaller battery, but there are good deals to be had, with early Renault ZOEs available for around £6,000.
Having a long manufacturer’s warranty on your electric vehicle is definitely a benefit of buying from new, but it can also be a bonus when buying a used EV. The most important and expensive component in electric vehicles is the battery pack, and these are commonly covered by a factory warranty of eight years or 100,000 miles. So, you could buy a three-year-old electric car with 30,000 miles on the clock at a knockdown price and still be covered for another five years.
Even if there’s no factory warranty remaining on a used EV, that’s not necessarily a reason not to buy it. Consumer reports suggest that the lithium-ion batteries used in electric vehicles last around 200,000 miles. So, the likelihood that you will have to replace this expensive part - EV batteries can cost up to £6,000 - is still pretty slim.
All those gadgets and that lovely paint job the previous owner paid extra for essentially come for free. They might be reflected in the price of the used EV slightly, but it’s factors other than the spec, such as the age, mileage and condition, that really determine the price of used cars.
Another benefit of buying a used electric car is that, even if you keep it for a few years, the excellent resale value of EVs means you should still get a good price when you decide to sell it.
Data shows that EVs hold about 48.9% of their value after three years or 36,000 miles. That figure drops to 40% for petrol and diesel cars. And that residual value is maintained throughout the life of electric vehicles, so you should still get a good deal.
Of course, as with everything in life, buying used EVs does not always lead to lower emissions, fatter wallets and happy drivers. There are a few things you should look out for.
One of the biggest drawbacks of buying a used EV is that, just like a smartphone, the battery degrades over time. The result is that it can lose some of its capacity to charge, which reduces its range. Most new EVs come with an eight-year or 100,000-mile battery warranty, which guarantees it for 70% of its capacity. So, if your EV is still covered by the warranty then you shouldn’t have any problems.
Battery technology has improved massively since EVs first came on the scene. For example, while a 2022 Renault Zoe will do up to 245 miles on a single charge, a 2013 model will only do half that distance from new. While that might be fine for daily use around town, if you’re going for an older used EV, you will need to charge it more often and that will be a pain if you don’t have a home charger.
In the early days of EVs, some battery packs had to be leased at an extra cost to the driver in a bid to reduce the upfront purchase price of electric cars. If you buy a used electric vehicle without a battery pack, you’re looking at an extra £70 a month or so for a lease deal. That’s why you should always check whether the battery pack is included in the purchase price of an older EV, and if it’s not, factor a lease into the overall cost of the car.
If you think a second-hand electric car could be a great way to reduce the upfront cost of a new EV, avoid the extortionate costs of fuel and do your bit for the planet, there are a few things to look out for.
• Check the range of the car to make sure the battery hasn’t depleted too much. You can usually do that by switching the car on, looking at the display to see the fully charged range and comparing that to the maximum range from new (avoid doing this on very cold days as the range can be artificially low).
• Make sure the car’s charging socket is in good condition and all the charging cables that should be included are present and functioning properly.
• Take a look at online EV communities to see whether any particular issues with the model and age of the car you want to buy.
• Conduct the same checks you would perform on a conventionally powered car. Take a close look at the tyres and the bodywork and ask to see the service history. Check the brake discs and pads for signs of excessive wear. And always make sure all of the dashboard warning lights turn off as soon as you start driving.
• There are also car checks that you can do online that will reveal any hidden history the car might have. For example, whether it’s been stolen, involved in an accident or has outstanding finance on it. You might have to pay a very small fee but it’s well worth it for the peace of mind.
Once you’re sitting proudly in your clean, green, used electric car, you can then download the Bonnet app to get charging.
Rather than having a different app for every type of charger, Bonnet offers quick and convenient flat-rate charging across more than 17 charging networks. It also provides you with the most reliable and up to date information on every charger, including location, availability, speed and connector type.
Electric vehicles (EVs) are still so new to the market that buying a used or second-hand EV has only recently become an option. But as the latest figures show, it’s an option many prospective EV owners are now exploring.
The biggest downside of electric vehicles has always been their price. Even with the government grants included, they are still more expensive to buy than new petrol and diesel cars. The growing used electric vehicle market is a great way to bypass those upfront costs and drive the greenest vehicles without being left out of pocket.
But is buying a used electric car a good idea, or when it comes to things like warranties and battery life, would you be better off spending more and buying new? We’ll look at the latest used EV stats and run through some of the main considerations.
Currently, demand for used electric vehicles is soaring. Figures from the Society of Motor Manufacturers and Traders (SMMT) show that sales of used battery electric vehicles (BEVs) - those that run purely on electric power - rose from 6,625 to 14,586 in the first three months of 2022. That’s up a cool 120% on the same period last year.
It’s still early days for the used EV market, but the figures show that budget-conscious drivers want to snap up environmentally-friendly cars. This is backed up by a Motorparks survey, which found that three-quarters of UK drivers would consider buying a used electric car.
This decision will be different for everyone depending on your budget, your circumstances and, to a certain extent, your risk tolerance - as new EVs come with lengthy warranties. Here are some of the pros and cons of used electric car ownership compared with new EVs to help you make up your mind.
Undoubtedly the biggest benefit of buying a used rather than a new electric car is the cheaper purchase price. Around 20% of a new car’s value is lost as soon as you drive it out of the showroom. Although used electric vehicles hold their value better than petrol and diesel cars, you can still make a big saving by buying an EV that’s a couple of years old.
As an example, you can expect to pay just over £30,000 for a brand new Renault ZOE Iconic R135, while the same car that’s just a year old with 4,000 miles on the clock will set you back around £23,000. If you’re on the lookout for a budget electric vehicle, you will have to accept older technology and a smaller battery, but there are good deals to be had, with early Renault ZOEs available for around £6,000.
Having a long manufacturer’s warranty on your electric vehicle is definitely a benefit of buying from new, but it can also be a bonus when buying a used EV. The most important and expensive component in electric vehicles is the battery pack, and these are commonly covered by a factory warranty of eight years or 100,000 miles. So, you could buy a three-year-old electric car with 30,000 miles on the clock at a knockdown price and still be covered for another five years.
Even if there’s no factory warranty remaining on a used EV, that’s not necessarily a reason not to buy it. Consumer reports suggest that the lithium-ion batteries used in electric vehicles last around 200,000 miles. So, the likelihood that you will have to replace this expensive part - EV batteries can cost up to £6,000 - is still pretty slim.
All those gadgets and that lovely paint job the previous owner paid extra for essentially come for free. They might be reflected in the price of the used EV slightly, but it’s factors other than the spec, such as the age, mileage and condition, that really determine the price of used cars.
Another benefit of buying a used electric car is that, even if you keep it for a few years, the excellent resale value of EVs means you should still get a good price when you decide to sell it.
Data shows that EVs hold about 48.9% of their value after three years or 36,000 miles. That figure drops to 40% for petrol and diesel cars. And that residual value is maintained throughout the life of electric vehicles, so you should still get a good deal.
Of course, as with everything in life, buying used EVs does not always lead to lower emissions, fatter wallets and happy drivers. There are a few things you should look out for.
One of the biggest drawbacks of buying a used EV is that, just like a smartphone, the battery degrades over time. The result is that it can lose some of its capacity to charge, which reduces its range. Most new EVs come with an eight-year or 100,000-mile battery warranty, which guarantees it for 70% of its capacity. So, if your EV is still covered by the warranty then you shouldn’t have any problems.
Battery technology has improved massively since EVs first came on the scene. For example, while a 2022 Renault Zoe will do up to 245 miles on a single charge, a 2013 model will only do half that distance from new. While that might be fine for daily use around town, if you’re going for an older used EV, you will need to charge it more often and that will be a pain if you don’t have a home charger.
In the early days of EVs, some battery packs had to be leased at an extra cost to the driver in a bid to reduce the upfront purchase price of electric cars. If you buy a used electric vehicle without a battery pack, you’re looking at an extra £70 a month or so for a lease deal. That’s why you should always check whether the battery pack is included in the purchase price of an older EV, and if it’s not, factor a lease into the overall cost of the car.
If you think a second-hand electric car could be a great way to reduce the upfront cost of a new EV, avoid the extortionate costs of fuel and do your bit for the planet, there are a few things to look out for.
• Check the range of the car to make sure the battery hasn’t depleted too much. You can usually do that by switching the car on, looking at the display to see the fully charged range and comparing that to the maximum range from new (avoid doing this on very cold days as the range can be artificially low).
• Make sure the car’s charging socket is in good condition and all the charging cables that should be included are present and functioning properly.
• Take a look at online EV communities to see whether any particular issues with the model and age of the car you want to buy.
• Conduct the same checks you would perform on a conventionally powered car. Take a close look at the tyres and the bodywork and ask to see the service history. Check the brake discs and pads for signs of excessive wear. And always make sure all of the dashboard warning lights turn off as soon as you start driving.
• There are also car checks that you can do online that will reveal any hidden history the car might have. For example, whether it’s been stolen, involved in an accident or has outstanding finance on it. You might have to pay a very small fee but it’s well worth it for the peace of mind.
Once you’re sitting proudly in your clean, green, used electric car, you can then download the Bonnet app to get charging.
Rather than having a different app for every type of charger, Bonnet offers quick and convenient flat-rate charging across more than 17 charging networks. It also provides you with the most reliable and up to date information on every charger, including location, availability, speed and connector type.
Electric vehicles (EVs) are still so new to the market that buying a used or second-hand EV has only recently become an option. But as the latest figures show, it’s an option many prospective EV owners are now exploring.
The biggest downside of electric vehicles has always been their price. Even with the government grants included, they are still more expensive to buy than new petrol and diesel cars. The growing used electric vehicle market is a great way to bypass those upfront costs and drive the greenest vehicles without being left out of pocket.
But is buying a used electric car a good idea, or when it comes to things like warranties and battery life, would you be better off spending more and buying new? We’ll look at the latest used EV stats and run through some of the main considerations.
Currently, demand for used electric vehicles is soaring. Figures from the Society of Motor Manufacturers and Traders (SMMT) show that sales of used battery electric vehicles (BEVs) - those that run purely on electric power - rose from 6,625 to 14,586 in the first three months of 2022. That’s up a cool 120% on the same period last year.
It’s still early days for the used EV market, but the figures show that budget-conscious drivers want to snap up environmentally-friendly cars. This is backed up by a Motorparks survey, which found that three-quarters of UK drivers would consider buying a used electric car.
This decision will be different for everyone depending on your budget, your circumstances and, to a certain extent, your risk tolerance - as new EVs come with lengthy warranties. Here are some of the pros and cons of used electric car ownership compared with new EVs to help you make up your mind.
Undoubtedly the biggest benefit of buying a used rather than a new electric car is the cheaper purchase price. Around 20% of a new car’s value is lost as soon as you drive it out of the showroom. Although used electric vehicles hold their value better than petrol and diesel cars, you can still make a big saving by buying an EV that’s a couple of years old.
As an example, you can expect to pay just over £30,000 for a brand new Renault ZOE Iconic R135, while the same car that’s just a year old with 4,000 miles on the clock will set you back around £23,000. If you’re on the lookout for a budget electric vehicle, you will have to accept older technology and a smaller battery, but there are good deals to be had, with early Renault ZOEs available for around £6,000.
Having a long manufacturer’s warranty on your electric vehicle is definitely a benefit of buying from new, but it can also be a bonus when buying a used EV. The most important and expensive component in electric vehicles is the battery pack, and these are commonly covered by a factory warranty of eight years or 100,000 miles. So, you could buy a three-year-old electric car with 30,000 miles on the clock at a knockdown price and still be covered for another five years.
Even if there’s no factory warranty remaining on a used EV, that’s not necessarily a reason not to buy it. Consumer reports suggest that the lithium-ion batteries used in electric vehicles last around 200,000 miles. So, the likelihood that you will have to replace this expensive part - EV batteries can cost up to £6,000 - is still pretty slim.
All those gadgets and that lovely paint job the previous owner paid extra for essentially come for free. They might be reflected in the price of the used EV slightly, but it’s factors other than the spec, such as the age, mileage and condition, that really determine the price of used cars.
Another benefit of buying a used electric car is that, even if you keep it for a few years, the excellent resale value of EVs means you should still get a good price when you decide to sell it.
Data shows that EVs hold about 48.9% of their value after three years or 36,000 miles. That figure drops to 40% for petrol and diesel cars. And that residual value is maintained throughout the life of electric vehicles, so you should still get a good deal.
Of course, as with everything in life, buying used EVs does not always lead to lower emissions, fatter wallets and happy drivers. There are a few things you should look out for.
One of the biggest drawbacks of buying a used EV is that, just like a smartphone, the battery degrades over time. The result is that it can lose some of its capacity to charge, which reduces its range. Most new EVs come with an eight-year or 100,000-mile battery warranty, which guarantees it for 70% of its capacity. So, if your EV is still covered by the warranty then you shouldn’t have any problems.
Battery technology has improved massively since EVs first came on the scene. For example, while a 2022 Renault Zoe will do up to 245 miles on a single charge, a 2013 model will only do half that distance from new. While that might be fine for daily use around town, if you’re going for an older used EV, you will need to charge it more often and that will be a pain if you don’t have a home charger.
In the early days of EVs, some battery packs had to be leased at an extra cost to the driver in a bid to reduce the upfront purchase price of electric cars. If you buy a used electric vehicle without a battery pack, you’re looking at an extra £70 a month or so for a lease deal. That’s why you should always check whether the battery pack is included in the purchase price of an older EV, and if it’s not, factor a lease into the overall cost of the car.
If you think a second-hand electric car could be a great way to reduce the upfront cost of a new EV, avoid the extortionate costs of fuel and do your bit for the planet, there are a few things to look out for.
• Check the range of the car to make sure the battery hasn’t depleted too much. You can usually do that by switching the car on, looking at the display to see the fully charged range and comparing that to the maximum range from new (avoid doing this on very cold days as the range can be artificially low).
• Make sure the car’s charging socket is in good condition and all the charging cables that should be included are present and functioning properly.
• Take a look at online EV communities to see whether any particular issues with the model and age of the car you want to buy.
• Conduct the same checks you would perform on a conventionally powered car. Take a close look at the tyres and the bodywork and ask to see the service history. Check the brake discs and pads for signs of excessive wear. And always make sure all of the dashboard warning lights turn off as soon as you start driving.
• There are also car checks that you can do online that will reveal any hidden history the car might have. For example, whether it’s been stolen, involved in an accident or has outstanding finance on it. You might have to pay a very small fee but it’s well worth it for the peace of mind.
Once you’re sitting proudly in your clean, green, used electric car, you can then download the Bonnet app to get charging.
Rather than having a different app for every type of charger, Bonnet offers quick and convenient flat-rate charging across more than 17 charging networks. It also provides you with the most reliable and up to date information on every charger, including location, availability, speed and connector type.
