Secondhand Steals: Why You Should Consider a Used Electric Car

Published Categorized as Review No Comments on Secondhand Steals: Why You Should Consider a Used Electric Car
Lincoln's Strategy Shift Tech Focus Over Electric Vehicles
Lincoln's Strategy Shift Tech Focus Over Electric Vehicles

A recent report by iSeeCars revealed a treasure trove of cars that depreciate significantly after just a year. This translates to big savings for you, the clever car buyer. Even luxury electric vehicles aren’t immune, with eight models experiencing a value drop exceeding 25% in a single year.

Several factors contribute to this rapid depreciation. Some models might be older versions awaiting a revamp, while others may have seen manufacturer price reductions or attractive lease deals pushing buyers toward brand-new options. But amongst these, a few stand out for being surprisingly discounted.

The Case of the Discounted EQS

The Mercedes-Benz EQS, a 2021 entrant to the luxury EV market, has garnered positive reviews. It boasts an impressive 350-mile range, delivers a powerful punch with its 329 horsepower and 417 lb-ft of torque, and pampers passengers with a stunning interior. While luxury vehicles typically experience steeper depreciation compared to average cars, a nearly 50% value drop in just a year is quite remarkable.

Vision EQS
Vision EQS (Credits: Mercedes-Benz)

The OG Electric Car: Why the Nissan Leaf Loses Value Fast

The Nissan Leaf, the grandpa of electric cars on this list, takes the cake for biggest value drop. It’s no surprise, though, since it’s been around since 2010. While it has a loyal follo

Nissan Leaf
Nissan Leaf (Credits: Nissan)

wing for being an electric car trailblazer, it hasn’t gotten any major upgrades in a while.

Think of it like an old phone. The 2018 update gave it a bigger battery and a fresher look, but it still uses an older charging system and doesn’t go as far as newer EVs.

The Kia EV6

A shiny new electric car on the scene (it just arrived in 2022!), surprisingly took a big value hit. Here’s the shocker: it shares most of its tech with its sibling, the Hyundai Ioniq 5.

Kia EV6 ev
Kia EV6 ev (Credits: Kia)

So why the drop? It might be because Kia goes all out on lease deals for brand-new EV6s. These deals are so good people might be less interested in buying a slightly used one.


By Rajdeep Singh

Rajdeep (New Delhi) sparks electric vehicle enthusiasm with engaging content, empowering everyone to join the EV revolution.

Notify of
Inline Feedbacks
View all comments