With volatile gasoline prices rising in recent weeks, Edmunds has seen increased shopper interest in hybrids, plug-in hybrids and fully electric vehicles. For those considering going fully electric, buying a used EV can offer significant savings. While new EVs are more expensive than similar gas-powered vehicles, steep depreciation can make a three-year-old EV more affordable than its gas counterpart.
The Chevrolet Bolt EV and Bolt EUV top the list for affordability. These models offer a generous list of tech features, a spacious cabin, and easy-to-park size. The Bolt EV gets up to an EPA-estimated 259 miles of range on a full charge, while the EUV can go up to 247 miles. Edmunds recommends focusing on 2022 or 2023 models for updated styling and improved technology. However, the Bolt is best suited for those who can charge at home, as public charging can be slow.
The Hyundai Kona Electric is another strong contender. This pint-size crossover SUV is nimble and fun to drive, with comfortable seating and a maximum EPA-estimated range of over 250 miles. While the 2024 model offers more interior space and improved tech, Edmunds suggests that 2022 or 2023 versions provide better value, as they are quicker and have longer real-world range.
The Hyundai Ioniq 5 combines comfort, quick charging, and a user-friendly interior, making it one of Edmunds' favourite electric SUVs. Used examples can be found at a bargain price, especially considering the long list of standard features. Edmunds advises avoiding the Standard Range version, which has only 220 miles of range; other versions offer up to 303 miles.
For an electric sedan, the Tesla Model 3 is the top pick. It offers a spacious interior, advanced driver assistance systems, and access to Tesla's Supercharger network. With many used models available, Edmunds recommends aiming for a 2024 or newer model to benefit from the latest styling, features, and comfort. The Model 3 comes in base, long-range, and Performance versions.
The Audi Q8 E-tron, originally launched as the E-tron in 2019, is a good choice for a luxury electric SUV at a non-luxury price. It features standard all-wheel drive, leather upholstery, ventilated front seats, and a premium sound system. However, range is a drawback: a 2023 model offers only 226 miles, while the 2024 Q8 E-tron increases that to 285 miles. Edmunds notes that buying a used EV makes financial sense, and buyers should remember the eight-year/100,000-mile battery warranty.
