Killer Deals Expected on Used EVs
One of the big takeaway points from the recent USA Today report on the predicted high 5-year depreciation for BEVs is that the used electric vehicle market could hold some killer deals in over the next few years.
If what Kelley Blue Book told USA Today turns out to be true, then used BEVs will over raging value for those interested in buying automobiles that aren’t quite new.
If you recall, USA Today reported these specific 5-year depreciation percentages for some of the plug-in vehicles:
- Chevrolet Spark EV – Expected to be worth 28% of its $28,305 list price in 5 years – ICE version expected retain 40% of its value in 5 years
- Ford Focus Electric – Expected to be worth 20% of its $35,995 list price in 5 years – ICE Focus Titanium version to retain 36% of its value in 5 years
- Nissan LEAF – Expected to be worth 15% of its 2013 (no Model Year 2014 LEAF exists in the US yet) Model Year list price in 5 years
The biggest depreciators (predicted to be worth only 15% of their new value in 5 year’s time), according to USA Today, are the Smart Fortwo ED, Fiat 500e and Nissan LEAF.
The only vehicle on either of those lists that you’ll come across in volume in the used market is the Nissan LEAF.
If USA Today’s figures hold true, then a 5-year-old LEAF could be purchased for only $3,000 to $4,000, which would make it a raging value.
Of course, we don’t expect these high depreciation figures to hold up, but it seems a given to us that, as with most all new technologies, BEVs will depreciate more rapidly than conventional automobiles. So, if you can’t quite afford new, then perhaps wait a year or two to get a killer deal on a lightly used EV.
Source: USA Today