EVEN if you’re not ready to drop ship and go electric, we bet current fuel prices have at least made you more interested in EVs.
Electric cars are still more expensive on average than petrol or diesel cars when bought new, but used ones can often be cheaper.
The people at MotorEasy have come up with the electric cars that are depreciated the fastest.
They analyzed the price of popular models of new EVs and compared them with the average price of a pre-owned version from 2019.
Duncan McClure Fisher, CEO of MotorEasy said: “Buying a new car is challenging at the moment due to waiting lists and high prices.
“If you like to buy used, a car two or three years old can save you a fortune.”
But MotorEasy pointed out that buying second-hand comes with some drawbacks.
McClure continues: “Remember that a (used) car is likely to be out of the manufacturer’s warranty period if it is older than 3 years.
“If this is the case, we recommend purchasing an extended warranty to protect yourself from unexpected expensive repairs.”
With that in mind, here are the five fastest depreciating EVs and in turn some of the best used EV bargains out there.
Kia Soul EV
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First on the list is the Kia Soul which lost 49% of its value in 2022 compared to the 2019 version.
The small SUV saw the most severe price drop, losing an average of £17,851.
The 280-mile range is impressive for its size and price, and the Soul’s quirky look will turn heads.
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Next up is the Renault Zoe, which has fallen in value by around £10,000 – or 39% – since 2019, according to MotorEasy.
That means the average 2019 used one costs £15,756.
The Zoe’s range of around 250 miles is great for a small car and its snappy acceleration and dinky size make it great around town.
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Dropping around 35% of its original value of £65,620, Jaguar used 2019 I-Paces for around £42,500.
That’s still way out of reach for most people, but it does mean healthy savings on an EV that’s truly luxurious inside and brilliant to drive with a healthy 495 mile range.
Smart ForTwo EQ
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Smart’s little ForTwo is one of the best urban cars out there – especially if you go for the EQ electric version.
It cost £22,775 in 2019 but now, after a 35% drop with depreciation charges, it costs around £14,700 today.
The modest range of about 60 miles isn’t much, but when was the last time you drove 60 miles around town?
Hyundai Ioniq Electric
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This isn’t the stunningly beautiful Hyundai Ioniq 5 that launched recently, but the older Ioniq is still a great EV.
It actually came from an EV, a hybrid and plug-in hybrid, but all are comfortable and easy to drive with decent interior space for five people. Electrics’ 124 mile range covers most people’s urban requirements.
Today you can buy an Ioniq Electric for 33% less than when it was new, with used ones costing around £22,645.
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